XRP remains surrounded by high expectations from the crypto support community
According to Ripple’s second quarter report, XRP, the sixth-largest cryptocurrency by market value, saw its turnover soar to $4.4 billion in the second quarter of the year, posting a 98 percent increase from the previous quarter.
It is noteworthy that XRP also had four days with the highest trading volume in its entire history.
Image by ripple.com
Ripple’s cryptocurrency affiliate started the second quarter with a bang. During the first two weeks of April, the XRP price skyrocketed 245 percent and hit a multi-year peak of $1.96.
The rally, however, had no legs. The XRP dropped 30 percent from its local top in a week and then succumbed to the broader cryptocurrency market correction in mid-May. Still, cryptocurrency appreciated around 15% in the second quarter.
Due to these upside-down movements, XRP’s volatility reached 11.5 percent, which is much higher than Bitcoin and Ethereum.
Ripple’s XRP Sales Up 5 Percent
Ripple — which was taken to court by the US Securities and Exchange Commission for allegedly violating federal securities laws with its XRP sales — sold another $157.92 of the tokens in the second quarter.
Its sales grew 5% to $150.34 million, reported by the San Francisco-based company in the first quarter.