The latest report from Ripple is more than impressive and brings good news to the community, which shows that the company and its digital assets are progressing rapidly.
The report reveals how much XRP is selling the company and the figures show a massive increase in the number of institutional players that are buying Ripple’s digital assets.
Ripple sold approximately $ 181 million in XRP in 2017. According to the latest Ripple report, that number increased to $ 535 million in 2018.
A trend among institutions protecting their money with digital assets
Of the $ 535 million, the company sold $ 171 million of XRP to institutions and the rest of the digital asset was sold to crypto exchanges and more companies that have had agreements with Ripple.
The report also notes that sales of XRP tokens in the fourth quarter of 2018 amounted to $ 129.03 million, equivalent to 0.24 percent of the overall volume of XRP.
The report also analyzed the correlation of XRP with Bitcoin (BTC) and Ethereum (ETH) during 2018.
“In the fourth quarter, we saw a general liquidation of the volatility of the XRP compared to the past of the quarters. The volatility of XRP’s daily returns was 5 percent, the lowest quarterly average since the fourth quarter of 2016. On the contrary, we observed that the average daily volume of XRP increased substantially by $ 595.7M, the highest average since the first quarter of 2018, “says the report.
Another interesting news of the report is that 30 more cryptos exchanges have included XRP in T4 2018 and the current number of cryptographic exchanges that have included the digital asset so far exceeds 100.
Before the release of the quarterly results, the encryption analysis firm Messari published a report, claiming that the market capitalization of XRP could be overvalued by up to 6 billion dollars. The report indicates that XRP’s liquid circulation offer can be overestimated by 48%, which puts the “real” market capitalization at $ 6.9 billion instead of the $ 13 billion currently reported in CoinMarketCap.
XRP holds the torch in cross-border transactions
Brad Garlinghouse compared BTC with XRP, and although he said that Bitcoin has great potential to become a solid store of value, XRP is much better when it comes to cross-border transactions.
He said that XRP is much more scalable and also lower cost and faster.
Anyway, with the latest news on the 30 new listings and the large number of companies that buy XRP, it seems that the digital asset is walking the road to mass adoption.
Earlier this week, the Fintech Research Institute at Tsinghua University in Beijing launched a Blockchain research grant with the support of Ripple.