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Institutional Interest in XRP Is Surging, Ripple Reveals in New Quarterly Sales Report

by Daily Hodl Staff
October 25, 2018
in Altcoins

Ripple just released its XRP Markets Report for the third quarter of 2018, revealing a big jump in institutional interest.

According to the report, Ripple doubled its sales of XRP and sold a total of $163.33 million worth of the digital asset, compared to $73.53 million in the previous quarter.

The vast majority of the increase came from sales made directly to institutions. In the third quarter, Ripple sold $98.06 million to institutions, compared to just $16.87 million in the second quarter.

Ripple CEO Brad Garlinghouse recently hinted at a big jump in institutional sales of XRP, saying the company is seeing a record rate of interest from prospective buyers. “Q3 will definitely be a record of institutional participation in buying and interest in holding XRP,” Garlinghous teased back in August.

XRP Markets Report

Ripple released a total of 400 million XRP out of escrow in the last quarter. Those coins are being used “in a variety of ways to help support the XRP ecosystem,” according to the report.

Ripple owns 60% of the total supply of XRP, with approximately 91% of that investment locked in escrow.

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