Does Ripple’s Second Quarter Report Suggest XRP’s Independence From Ripple?

BTC Wires: According to the second quarter reports of 2018 released on July 24 by Ripple for its digital asset XRP, the numbers relating to the sale of XRP assets were drastically low as compared to the total XRP market sale.

The recently released reports highlight $75.53 million sales during Q2 in total. In the entire sales of $75.53 million programmatic sales accounted for $56.6 million, which amounts to nearly 0.125% of Ripple’s entire sale of $45.35 billion received in the second quarter, through Ripple’s subsidiary XRP II, LLC, which is a registered and licensed money service business.

The report was instrumental in bringing forward the aspect of low volatility of XRP in Q2, signalling towards the 9% price decline along with the bitcoins 8.2% drop. The report also included details of the escrow activity, according to which 3 billion XRP has been released during the Q2 through the channels of escrow contracts, which basically means third-party contracts. Further, 2.7 billion has been employed in the fresh escrow contracts.

In Q4 2017, the company had placed 55 billion XRP in an encrypted escrow contract, which meant that they can only use 13% of the XRP in circulation. Ripple had also pointed out the fact that 300 million XRP remaining from the escrow contracts has been used for the XRP ecosystem.

The reports also provided information about the new entrants to the XRP ecosystem ion Q2. There were two new entrants in the XRP scene, which include micropayment application coil and content monetization platform SB projects. Both the new entrants were backed by the Ripple’s venture initiative Xpiring.

Considering the overall market in Q2, Ripple’s paid emphasis on XRP’s independence from Ripple itself. The decline that was witnessed in the XRP token price was quite similar to the overall existing trend in the cryptomarkets.