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Ripple’s Quarterly Report Shows A Huge Performance BUT $1 Xrp Is Out Of The Picture

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Ripple began the very first quarter of the year with a high of over $1.91 but they closed that very same quarter at $0.51. The price has been attempting to climb higher and higher but it has since been capped at $0.84. Ripple have also released their very first quarter report for the year 2018 and even though it did very well it did not surge to an incredible volume. Traders purchased $16.6 million from XRP and the company also sold $151.1 million programmatically.

In the first quarter of 2018, it is a known fact that over 3 billion was released from an escrow and 2.7 billion XRP was also put back into new contracts. The balance of 300 million XRP is now being used to try and support a lot of different causes in the ecosystem of Ripple. Ripple, or XRP began the first quarter of the year with a high of $1.91 and it also closed at the same quarter at $0.51 and this shows that the drop in price has gone down to well over 73%. The report puts the total market cap for the whole thing at $263.5 billion. This is at the end of the first quarter. This is actually a 56.3% drop from $603.7 and this was achieved at the very start of the year.

Ripple has stated that the decision of CoinMarketCap.com to remove their site from the roster was a huge influencing factor in the capitalisation. They have also stated that they have a large share of their market in South Korea and that this was also affected considerably when compared to other digital assets. Another problem that singles Ripple out is the fact that it has a status in South Korea. The rumours are that the digital assets will be banned in their entirety in the country and this could add to the volatility of the market. The growth can really be related to the fact that Ripple has been added to 18 brand new platforms. This ultimately means that it can be accessed by using over 60 different currency exchange platforms. The good performance can also be connected to the fact that there is a growing partnership and the fact that Ripple is entering it.

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