Ripple has released their Q1 report for 2019 with some exciting points for all concerned with XRP. Both institutional and programmatic sales increased, however total global volume was down slightly.
In total $169.42 million of XRP was sold by Ripple in Q1. The key aspects from the report outlined how projects which have been invested in by Xpring (Ripple’s initiative to help support blockchain initiatives) are both building and utilising XRP, the XRP Ledger and Interledger Protocol. This list of projects includes XRPL Labs, Kava and Forte; all three have seen “significant developments” respectively.
19 new exchanges listed XRP, taking the total number to approximately 120. Thirteen new financial institutions joined RippleNet, with five of these already confirming that they will be using XRP on-demand to source liquidity.
A further extract to take particular note of is the commentary regarding legacy players. Without mentioning specific names, Ripple have stated that the case for using blockchain technology and stablecoins to improve payments creates a “strong validation” for the market.
You can find Ripple’s Q1 2019 report here.
RippleNet image licensed via Shutterstock.