Ripple Releases Report for Q1 2019 Amid XRP Downfall

Ripple, a leading American FinTech company, published a report for the first quarter of 2019. It provides information on the amount of XRP coins taken out of the escrow account, as well as the financial progress of the firm and the updates of the XRP market.

“Ripple’s Q1 sales accounted for 0.32 percent of global XRP volume. Three billion XRP were released out of cryptographic escrow, 2.30 billion returned to escrow. XRP is now listed on approximately 120 exchanges worldwide.”

The report also says that Ripple spent more than 700 mln XRP on the development of the ecosystem, and the remaining 2.3 bln of XRP were eventually returned to the escrow account. Nevertheless, the company's actions were perceived by the community ambiguously: many users criticized the actions of Ripple.

The inflow of coins on the markets, coupled with the recent rumors about the sale of XRPs by David SCHWARTZ, the CTO of the company, could have affected the cryptocurrency price — the XRP rate dropped significantly against both the dollar and BTC. At the time of writing, the XRP to USD is 0.2988, the XRP to BTC is 0.00005516.

Image courtesy of TheXrpNews