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Ripple Q2 headway, XRP had the best quarter in history despite prices slump

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Ripple XRP
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The official XRP markets report of the second quarter of the year has just been released by Ripple Labs, a document that gives us a clearer definition of all of the developments and moves that took place over the last 3 months of the year with the XRP token. Like this, a broader view appears in the scene at an institutional level, and investors by their part can have a bigger understanding of the XRP landscape, what has been going on, and what’s most likely to occur in the coming days.

Similarly, one of the most important facts of the document is that shows the slump in the prices that the XRP token has been facing lately, is in fact, something that is more related to the conditions of a young and immature market, than with a relation to inefficiencies with the token and the strategies it has been deploying.

As it seems, the second quarter of the year was actually the best, historically speaking, when it comes to the number of users that signed in to Ripple. Let’s see the main reasoning behind this, and the fundamental facts of the report.

Numbers on the report

One of the most interesting facts explained in the report is that Ripple recently sold $73 million of XRP tokens which represent an account of 0.125% of the total transaction volume of XRP. The same way, 3 billion out the 55 placed in escrow was released in Q2, and 2.7 billion bounced back to the escrow.

Let’s recall that Ripple uses an escrow that parallelly depends on other independent escrows that release the amount of 1 billion XRP monthly. The way it functions responds to the target of constructing greater limits of new XRP put into circulation for users to interact with. Regarding this, Ripple has stated:

“The amount of XRP actually released into circulation will likely be much less than this. Any additional XRP leftover each month will be placed into a new escrow to release in the first month in which no escrow currently releases.”

Ripple’s ecosystem

Ripple has been working on the development of their very own ecosystem, and this is something that was supported by the remaining 300 million XRP in the second quarter. Consequently, the company announced back in May the launch of a financing program called Xpring with which the blockchain firm aims to help with the construction of the ecosystem and at the same time, the development of new uses for the XRP token.

That said, we also need to keep in mind that with the launch of Xpring, another masterpiece that enters the landscape is Coil, with a partnership that seeks to make usage of the XRP token along with ILP (Interledger Protocol) in order to allow support to digital content by utilizing micropayments.

Conclusion

At the moment of writing the price of the XRP token is priced at $0.460582, a value that actually has been oscillating between $0.40 and $0.50 during the last couple of months. This mainly responds to the immaturity of the market and the volatility that characterizes it, but in terms of signs and users Ripple actually closed the past quarter with one of the brightest results ever. Regarding this the company has stated:

“The tight correlation is indicative of a market that is still in its infancy. Traders have yet to distinguish among the intrinsic values of the best known digital assets. As the industry matures and decides what it deems most useful and valuable, we should expect to see more separation.”

To sum up, despite the results it seems like the market, and more specifically the XRP token, has been growing up and transforming into a valuable digital asset, so it’s just a matter of time while the conditions tend to be positive again.

In fact, every day, it results more notable how “financial institutions are beginning to build crypto divisions and establish technological solutions to take advantage of the opportunity at hand.” A fact that gives us a positive sentiment of what can happen with Ripple (XRP) next. So stay tuned. Great things are coming.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Maxpixel.net

Bitcoin

Investors Beware: Another Large Bitcoin Crash Might Be Coming

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Bitcoin crash
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The crypto prices have surged quite high in the last few months. Of course, their progress is nowhere near the one seen in 2017, but they appear to be getting there, one day at the time. However, things might not be as simple as that, and according to recent performance — it is more than possible that a major Bitcoin crash is incoming.

The fact is that cryptos saw a massive amount of growth in a very short period. Bitcoin itself more than doubled its price in only two months. Now, the rally is starting to crash in on itself, and the coin is already about $1,000 lower than last week. If such development does come to pass, a lot of people will experience quite large losses, although experienced investors might find some opportunities, and leverage in order to enhance their holdings’ long-term value.

For example, Bitcoin dominance is expected to crash very quickly, which will work in favor of quite a lot of altcoins. While this does not seem to be the best time to invest in BTC, altcoins are another story, and diversifying a portfolio now might end up being very profitable in days to come.

Bitcoin behavior mirrors the pre-bear market situation

The crash that analysts are predicting right now comes as a direct consequence of all the hype that has been building up in…

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Altcoins

Top 3 Coins to Buy Before They Go Big

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coins
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Crypto bulls are back, that much is clear. The long-lasting, harsh crypto winter is gone, and the new era in digital currency sector opens up some rather interesting opportunities. With many more bull runs expected to come in months ahead, a lot of coins are likely to blow up and maybe even hit new all-time highs, although that still remains purely theoretical.

On the other hand, the fact is that numerous coins are seeing prices that were not achieved since early 2018, and the overall momentum remains bullish. With that in mind, even if new records do not come for a very long time — chances are that many of the coins will blow up enough for investors to see some serious gains in months to come. As a result, investing in some of these coins now might be a very profitable decision, for those who have the patience to wait a few months. Here are some of the projects believed to have the greatest potential to go big in the second half of 2019 and beyond.

1. TRON (TRX)

Putting TRON on the list should not really surprise anyone, as the project constantly comes up with new project updates, partnerships, and alike. It also constantly breaks records, as is becoming one of the biggest players in the dApp and smart contract development sector.

In the past few…

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Blogs

Can Crypto Credit Cards Disrupt the Fight Against Financial Crime?

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crypto credit cards
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It is commonly known that the world of finances has the biggest problem with the crime of all existing industries around the world. It has been so throughout history. While the financial world has evolved, so did the criminal activities, and they continue to be an issue. With the arrival of cryptocurrencies, many were hoping that financial crime might be disrupted. However, for now, at least, it appears that cryptos themselves cannot find a way to resolve issues such as international money laundering.

In fact, when it comes to money laundering, the crypto sector appears to be the weakest link, especially because of the nature of digital currencies. The anonymity that cryptos are being praised for means that anyone can get a payment from an unknown source from anywhere in the world. This method can then be used for financing drug trafficking, cyberattacks, terrorists, and more.

Until recently, it was not easy for bad actors to make use of cryptocurrencies obtained for illegal purposes. The number of merchants willing to accept the coins was low, and criminals were forced to find a way to exchange crypto into fiat currencies. However, this came with a set of issues, such as taking foreign exchange risks and then sending the money through wallets and exchanges to a banking system that would allow withdrawal. The banking account was the biggest obstacle here,…

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