Ripple surpassed $1 mark for the first time since 2013

In 4 years after its launch Ripple reached all time high of $1 for the first time after expanding its network to more than 100 financial companies
21 December 2017   2252

Ripple is one of the most famous cryptocurrencies in the world, which has almost always been in the list of top 5 cryptocurrencies, though having quite a low price, but being accessible for the users.

List of top cryptocurrencies ranked by market capitalizationList of the top cryptocurrencies ranked by market capitalization

During all 4 years since its creation the price of Ripple remained lower than $1, and on December 21 of 2017 it finally reached all time high of $1 for the first time. The highest price which Ripple has ever reached before was seen on May 17 of 2017 when it rose to $0,41.

Ripple Charts december 2017Ripple Charts

The reason for such an unexpected price jump is in the expansion of Ripple Network to more than 100 financial institutions. The organizations that partnered with Ripple include American Express, Credit Suisse, Santander Group, UBS, VISA, Bank of Ayudhya Public Company Limited, and at the same time, some institutions like the Australian Stock Exchange are experimenting with distributed ledger technology.

Moreover, next spring Japanese financial institutions will begin remittance experiments with Korean banks using the technology of Ripple.

Currently, the price of Ripple continues to rise, having increased 2,20% within 1 hour, which led to such numbers as 33% rise within past 24 hours and 72% rise during past 7 days.

At the moment of press, these are main market parameters of Ripple:

  • Average price: $1,05
  • Marketcap: $40 515 334 638
  • 24h volume: $2 476 380 000

Ripple to Sell $169.42M Worth XRP in Q1 2019

It's 31% more than in Q4 2018, when company was able to sell less than $130M worth XRP
25 April 2019   77

Ripple published a financial report for the first quarter of 2019, indicating that during this period it managed to gain $ 169.42 million from the sale of XRP cryptocurrency. The value increased by 31% compared with the fourth quarter 2018, when XRP was implemented at $ 129.03 million.

Direct institutional sales brought the company $ 61.93 million compared to $ 40.15 million in the previous quarter. The indicator of “programmable sales”, that is, sales carried out with the help of intermediaries, also increased and amounted to $ 107.49 million against $ 88.88 million.

XRP Sales Table, Q4 2018 | Q1 2019
XRP Sales Table, Q4 2018 | Q1 2019

Total XRP trading declined by about 2% to $ 53.85 billion in the first quarter of this year, against $ 54.82 billion in the fourth quarter of the previous year.

For comparison, for the same period last year, Ripple managed to sell XRP for $ 167.7 million, that is, a change in the indicator was about 1%.

In the first quarter, Ripple released 3 billion XRP from its escrow wallets. At the same time, 2.3 billion XRP were returned and entered into new escrow contracts. “The remaining 700 million XRP not returned to escrow are being used in a variety of ways to help support the XRP ecosystem,” explains the company.

In the middle of the month, it became aware of the decision of the Japanese bank Resona to withdraw from the MoneyTap payment project being developed by Ripple.