New Ripple report shows major surge in daily volume

Ripple published its quarterly XRP report, which it releases publicly as past of efforts to increase transparency. The report also includes updates regarding the firm’s views on the state of the market, relevant announcements, sales updates, and more.

What did the report reveal?

According to the report, XRP’s total sales in Q2 of this year were at $32.55 million. This represents a massive upgrade from only $1.7 million that XRP saw in Q1 of this same year.

However, the company paused programmatic sales, and it only focused on its OTC sales. It believed that this would be the best way to provide better liquidity to RippleNet’s ODL customers.

Of course, the XRP market still needs to grow into a healthy and orderly one, in order to minimize risk, cost, and to secure responsible liquidity. The liquidity is entering the XRP market naturally, as more and more financial institutions continue to use XRP products, but more is always better.

XRP did see a drop in daily volume when compared to Q1 of this year, going from Q1’s $322.66 million to $Q2’s $196.28 million. But, its volatility also reduced between the quarters, going from 3% to 6.2%.

XRP adoption continues

Q2 also saw 3 billion coins released from escrow, or about 1 billion per month. However, 2.6 billion were returned and put back into escrow.

The report then notes some of the most notable integrations from Q2, such as Sygnum Bank, which became the first fully-regulated crypto bank. The bank added XRP to its custody solution and financial platform. A similar move was made by Zero Hash, which also integrated the coin into its platform. Other than that, XRP also saw the launch on Swisscom Blockchain’s DAPPI platform, and lastly, it was integrated into a wallet by mobile payments startup, Uphold.