Ripple bull market transcript: XRP rose nearly 30%, daily average trading volume soared twice

Ripple released this quarterly report, and its sales and daily average trading volume have grown by leaps and bounds. But what's interesting is that Ripple is worried that his trading volume is exaggerated when the false reporting volume is widespread.

On Wednesday, Ripple, the payment giant in the blockchain segment, released its second quarter report for 2019. With the overall recovery of the market, XRP Q2 also performed very well.

The main contents of its report are as follows:

  • Market performance: XRP prices rose nearly 30% from the previous month, and the average daily trading volume increased nearly 2 times, XRP has launched 130 exchanges around the world;
  • Sales: XRP sales totaled US$250 million, and agency sales increased by nearly 73% quarter-on-quarter;
  • Other: In order to prevent others from exaggerating their trading volume, Ripple will adopt the CCTT benchmark in the future;
  • Market evaluation: the entry of technology such as Facebook and Amazon and the regulatory dynamics of various countries.

The price of XRP increased by nearly 30% from the previous month, and the average daily trading volume increased by more than 175%.

The digital currency market performed well in the second quarter of this year, with a total market capitalization of 122.86% higher than the first quarter, while XRP prices also rose by 28.2% in the second quarter.

According to CryptoCompare's Top Tier (CCTT) benchmark, XRP's average daily trading volume ($429 million) in the second quarter increased significantly by 175% from the first quarter ($156 million).

However, Coinmarketcap shows that the average daily trading volume of XRP is 1.74 billion US dollars. Interestingly, Ripple said that in order to avoid the exaggeration of market trading volume, Ripple will be in the future when many exchanges and project parties misrepresent the false transaction volume. Use CryptoCompare as a basic indicator to measure XRP market trading volume.

In addition, XRP's (average return per share) volatility for the quarter was 5.01%, a slight increase from the volatility of the first quarter. The correlation between XRP and BTC has decreased compared with the first quarter, but the correlation between the two is still high.

In the second quarter, XRP launched 12 new exchanges. As of now, XRP has been launched on more than 130 exchanges around the world.

XRP sales totaled 250 million US dollars, and institutional sales increased by nearly 73%

In the second quarter of this year, Ripple's Institutional Direct Sales (OTC) sales were $106 million, an increase of nearly 73% from the first quarter ($61.13 million), directly driving sales growth this quarter. In 2017, when XRP/USD liquidity was limited, Ripple subsidiary XRP II began to meet institutional needs through over-the-counter XRP.

But Rippl's programmatic sales still dominate, with sales of $140 million.

Ripple's total sales in the second quarter reached $250 million, a significant increase from the $169 million in the first quarter.

Company encryption hosting releases 3 billion XRP, 900 million for application case development

In the second quarter of 2019, 3 billion XRP was released from corporate custody (1 billion per month). Of these, 2.1 billion XRPs were returned to custody, and then entered a new hosting contract. The remaining 900 million XRPs are being used in various ways to develop XRP applications, including the Xpring program and RippleNet partners (such as MoneyGram).

From Q1 to Q2, the Ripple Group's Xrapid transaction volume increased by 170%, and Xrapid's number of partners increased by 30%. As more partners and customers come online, Ripple's trading volume is still rising.

In particular, Ripple has established a two-year strategic partnership with MoneyGram, one of the world's largest transfer companies, and is a key part of the company's cross-border payments and the use of digital assets for foreign exchange settlement.

In addition to the company's own business summary report, Ripple also evaluated the overall performance of the market in the second quarter, including the institutional entry blockchain field and national regulatory dynamics.

Technology giants such as Facebook and Amazon are flooding into the market

Facebook's Libra white paper released in June caught the mainstream attention, however, due to multi-party doubts and its compliance, Facebook faces serious regulatory resistance. But Facebook is not the only technology company that announced its break into the world of encryption and blockchain this quarter:

Amazon: Patented to build a POW system to defend against DDOS attacks. In addition, Amazon Web Services offers a service for hosting blockchains for its enterprise customers.

Yahoo (Japan): On-line cryptocurrency exchange Taotao , the exchange will be the first to support BTC and ETH transactions, while XRP and LTC conduct margin trading.

Google: Ethereum application builders using Google software will be able to work with Chainlink to integrate data beyond the blockchain.

Samsung: announced the development of a blockchain based on Ethereum and may issue its own tokens. In addition to technology companies, banks are continuing to bet on cryptocurrency and blockchain. Last quarter, a group of 14 financial companies led by UBS, including Barclays, Santander and the Imperial Bank of Canada Fnacity International was created to help develop and launch Utility Clearing Coins (USC) to improve cross-border payments. JPMorgan Chase announced that it will conduct trials of its corporate/institutional customers for JPM Coin, and the CEO of Goldman Sachs said the bank is conducting extensive research on asset-certification technology and stable currency technology.

Second quarter regulatory dynamics

America and Europe

The G20 officially announced support for the FATF's encryption guidelines and the ongoing work of the Financial Stability Board (FSB) to explore the impact of decentralized financial technology.

US SEC Commissioner Pierce said the current guidelines are not yet clear and the industry needs to continue to develop additional guidelines on encryption.

France urges the EU to adopt a cryptocurrency framework to achieve uniform legal regulation.

The UK Financial Conduct Authority (FCA) is negotiating a potential ban on the sale of crypto derivatives to retail investors.


The Reserve Bank of India (RBI) announced its FinTech sandbox framework, inviting blockchain projects to participate, but does not include cryptocurrency-related businesses.

The Japanese House of Lords passed new encryption regulations in the National Assembly (the Japanese bicameral legislature) to strengthen local regulations and cryptocurrency trading practices.

South America

Brazil has set up a new committee to consider the country's encryption regulations. In addition, the country's major financial institutions announced a regulatory sandbox for blockchain, financial technology and cryptocurrency.

The Chilean government introduced a bill on cryptocurrency to Congress.

Middle East and Africa

Egypt has lifted the ban and will allow licensed cryptocurrency companies to conduct business.

The Pakistani central bank announced plans to launch digital currency by 2025, and strive to achieve full digitization by 2030.

Source: Shallot blockchain