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Ripple Price Climb in Q1 Saw XRP Sales Jump 31% According to Report

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Ripple Price Climb in Q1 Saw XRP Sales Jump 31% According to Report
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Because Ripple is a company – a cryptocurrency company with its own tokens – it has released a report which has tracked how these tokens have done over the first quarter of 2019. While the price of XRP has mostly been pretty stagnant, there has been growth in the market and that has reflected in XRP’s performance.

Ripple has released a report that has shown a 31 percent increase in the sale of the XRP tokens over Q1 of 2019. It is an interesting metric to view, especially in light of the climbing cryptocurrency prices over these past months.

Because Ripple caters to businesses, but individuals are involved, the growth of sales on their XRP token needs to be deciphered even further. Is it a case of the price jumps enticing more investors in, or rather that the crypto spring is also influencing institutions to use the token more freely?

Back on the up

The bearish market of 2018 of course played havoc on investors, but did not make life easier for the companies involved in cryptocurrency. However, Ripple has reported a 31 percent increase in sales of XRP over the first three months of the year.

The firm sold a total of $169.42 million in XRP in Q1, compared with $129.03 million in the previous quarter.

Ripple further said that direct institutional sales of XRP totaled $61.93 million in Q1 – 54 percent more than the previous quarter. Programmatic sales of the cryptocurrency, meanwhile, grew from $88.88 million to $107.49 million, an increase of 21 percent.

A bit of both

It is interesting to see the increase in sales to institutions as well as for general use. However, the fact that the institutions have increased their buying of XRP by as much as 54 percent is very noteworthy.

It seems to suggest that the institutional interest is growing alongside the increase in price activity. This is also coupled with an increase in general buying and interest in cryptocurrencies – probably another big sign that the bear market is over.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple's Partner Wants to Transform Gaming Industry with XRP

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    Forte reveals the benefits of using Ripple's XRP for creating digital economies

Ripple's Partner Wants to Transform Gaming Industry with XRP
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San Francisco-based company Forte, which formed a $100 mln fund in partnership with Ripple's investment arm Xpring back in March, keeps working on applying the blockchain technology in gaming.

Recently, Forte co-founder Brett Seyler explained the benefits of using XRP.  

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Blockchain-based gaming economies  

Forte is helmed by top-tier industry executives (including its founding CEO Kevin Chou) who are not focused on creating new powerful economies within the $140 bln gaming while making it more decentralized. 

There have been multiple attempts at creating a killer gaming dApp, but the technology is still way too cumbersome for the average Joe. Forte wants to address the adoption problem by making such games more approachable.       

“Creating game economies with multi-sided participation, open markets and increased transparency offer a potent solution to the challenge of the complexity plaguing game developers that result in stagnant economy design,” said Seyler.  

Blockchain is a perfect tool for creating peer-to-peer gaming economies since it could make in-game transactions easy, fast, and transparent.       

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The impact of XRP  

In order to make the magic happen, Forte utilizes the Interledger protocol (ILP) that was created by former Ripple CTO Stephan Thomas for establishing connections between multiple blockchains. 

On top of that, the startup also uses XRP for increasing the level of interoperability as well as security and liquidity.  

Since its inception, Xpring invested more than $500 mln in around 20 companies to streamline the adoption of XRP.  

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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