Ripple’s Q1 2019 XRP Market Report Takeaways
Ripple has announced results from its Q1 2019 Market Report. The results demonstrate the company’s current and future growth.
Ripple announced a few highlights from its operations from Q1 2019:
- Ripple sold $169.42 million worth of XRP compared to $129.03 in Q1 2018.
- XRP’s daily returns volatility over the quarter was only 2.9%, making Q1 2019 the second lowest quarter of volatility. This enhances Ripple’s money transfer usage as a lower volatility helps guarantee the value of the currency during transfer.
- Strong validation for blockchain-powered payments was evident in the quarter. Many legacy players (e.g. Fidelity, Eurex) have begun to use decentralized ledger technology and stablecoins to improve payments.
Our Take
For Ripple, the results of Q1 2019 report demonstrates its current growth and future potential. Using cryptocurrency and blockchain technology to “fix” the cross-border payments space is a great use case and it is evident as legacy players have begun to roll out their own solutions.