XRP’s second quarter report reported significant improvements on this project. These include low volatility and increased sales.
In the most recent XRP report, corresponding to the first quarter of the year 2020, it reports that there have been improvements on this platform. When compared to the results of the first quarter of the year or those of the second quarter of 2019, positive numbers can be observed.
With this new report, Ripple ensures that it seeks to build trust and show transparent results that benefit trust in the ecosystem. It also invites other projects to take similar initiatives for the common good of the new financial technology represented by cryptocurrencies.
On the other hand, the Ripple report performs a comparative analysis of the performance of XRP with other digital currencies such as Bitcoin and ETH. One of the most outstanding results is that it outperforms both cryptocurrencies at a low level of volatility.
Improvements in sales status, reports XRP report
The XRP report reports that there were improvements in regards to sales. In the second quarter of the year, they amounted to $ 32.55 million US dollars. The improvement is observed when compared to the level of the first quarter, where they were $ 1.7 million USD.
In addition, it is explained that Ripple has continued its policy of scheduled pause of sales. Now, the work focuses exclusively on Over-the-Counter (OTC) sales, to increase the liquidity of XRP. With this, it seeks to expand the project into new corridors, explains the report.
Market to minimize costs and risks
Furthermore, the report says, an orderly market is needed to minimize costs and risks for XRP users. In this case, Ripple “a responsible role in the entire liquidity creation process.”
It should be borne in mind that OTC operations are those that do not operate within a formal exchange. In other words, they do not leave public record or influence the market price. This makes them ideal for large-scale transactions such as institutional purchases, for example.
Some advantages of OTC
According to Bit2Academy, there are three fundamental advantages for those users who want to participate with OTC operations:
- Money saving: not being subject to market prices, operations can be organized into a win-win for both parties.
- Privacy: with them the market does not experience variations, since they are hidden.
- Large limits: not being subject to the rules of the stock market, OTC operations have the advantage of being able to move large sums of money.
The Q2 2020 XRP Markets Report provides an in-depth analysis of the current #crypto markets, highlights a continued pause in programmatic #XRP sales and explores the latest crypto market moves. https://t.co/IYK8agJgCY
— Ripple (@Ripple) August 3, 2020
Another facet reported by the XRP report is the improvement in terms of volatility. For this, in it a comparative analysis is performed with other cryptocurrencies such as Bitcoin and Ethereum.
The low volatility of XRP, expressed in this report for the second quarter of 2020, stands at 3.0%. Compared to two of the top cryptocurrencies Bitcoin (3.4%) and Ethereum (4.2%), the volatility of the Ripple project is among the best there is.
An important fact that should not be overlooked, is that the volatility of Bitcoin, as reported in CryptoTrend, kept historical levels very low. From May to early August, the volatility of the pioneering cryptocurrency was the second lowest in its history since March 2010 when it reached 0%.
Even so, with Bitcoin’s low level of volatility, it was not inferior to that of XRP.
Data to consider
- XRP’s total OTC sales, with its programmatic pause, ended the second quarter at 18 bps. They closed at 0.6 bps during the first quarter of the year.
- Regarding liquidity on demand (ODL), during the second quarter of the year, its volume was 20%.
- The XRP sales market experienced tremendous growth in the second quarter of the year. It was $ 32.55 million dollars. In the first quarter, it barely reached $ 1.7 million USD.
- Low level XRP volatility outpaced that of the two main cryptocurrencies, Bitcoin and Ethereum. With 3.0%, XRP outperformed the other two, which had a percentage margin of 3.4% and 4.2% respectively.