Ripple (XRP) shares the idea of complete transparency when it comes to performance of XRP and its native platform, and that is how in the spirit of Q1 of 2018 coming to an end, the XRP team has decided to share their report on how Ripple did during the first quarter, that way covering the state of XRP in the market, Ripple developments, important announcements and achievements. This is very important as Ripple community can follow up with how their favorite digital asset is doing. Let’s see what Ripple managed to achieve during the first quarter of 2018 according to the hardworking team behind XRP.
Ripple and Sales in Q1 2018
In accordance with the report published by the Ripple (XRP) team with the idea of complete transparency towards XRP community, it is said that Ripple managed to sell 16.6 million dollar worth of XRP through their official money service business XRP II.
During the analysis of sales made by Ripple through their official money service business, it was also determined that XRP did exceptionally well in the first part of the first quarter, which is the time when the majority of currencies were trading in the green as predicted in 2017. To get back to the end of 2017 for a brief moment; due to the benevolent current of rises at the end of the last quarter in 2017, many cryptoanalysts, as well as enthusiasts, predicted that the year of 2018 would be THE year for cryptocurrencies.
In fact, the performance of the majority of digital assets indicated that the upcoming 2018 will indeed make up for a year when cryptocurrencies will go through mass adoption and waves of increasing trading volumes.
Partially, this prediction was true, as many currencies had their all-time high prices at the beginning of 2018, mostly at the beginning of January and in mid-January.
At the end of their report regarding XRP sales, the team behind Ripple claims that the increased trading volumes have been noted almost during the entire first quarter, while the most activity regarding sales of XRP was noted at the beginning of Q1 of 2018.
Ripple (XRP) in Oppose to the Digital Asset Market in Q1 2018
In their quarterly report, Ripple team added that the market capitalization of Ripple matched the rate of rising of the rest of the market cap, although it sometimes seemed like Ripple was going up at radically high rates than compared to the rest of the market. The currencies continues with the pace of growth that was noted in the end of Q4 of 2017, which means that the 603 billion dollars of total market cap of all digital assets, ended up at over 800 billion dollars in market capitalization, rising for over 200 billion dollars in only 7 days, with Ripple being a part of this massive increase of the total market cap.
However, this market cap dropped significantly to 263 billion dollars of total market capitalization of all digital assets, as marked at the end of the first quarter of 2018.
That means that XRP and the rest of the market lost over 56% of the total market cap in a single quarter.
Ripple is also open about pointing out its own losses on the market, so the report states that XRP lost 73% of its market capitalization, during the period of the market crash with its losses going towards completing -100% since December till March 31st.
However, XRP has something to be proud of as this digital asset had its own highest volume of trading that went up to 160 billion of notional traded dollars in XRP, which was achieved in a single quarter.
Ripple (XRP) and the Market at the Beginning of Q2 2018
It seems that the period for recovering is now officially over as the first quarter of 2018 is closely coming to a closure. That is how the majority of currencies are now trading in the red with suffering from drops in the market.
After the most recent change in the market, the third-best currency according to its market cap is down today for -11.57% while it is dropping against the dollar and trading in the red.
In addition to a drop of nearly -12% against the dollar, XRP is also dropping against BTC by -8.13%, but still over 32 billion dollars worth of market capitalization.
After the latest change in the market and the initial drop of 11.57% against the dollar Ripple (XRP) can be purchased at the price of 0.82$ per one XRP unit.
This information should not be interpreted as an endorsement of cryptocurrencies or a recommendation to invest. Historic performance is no guarantee of future returns. As an investment class, cryptocurrencies are speculative investments and investing in cryptocurrencies involves significant risks – they are highly volatile, vulnerable to hacking and capital loss and sensitive to secondary activity. Before investing you should obtain advice and decide whether the potential return outweighs the risks.