Two years ago, Ripple’s digital asset, XRP, has been at its top with a market price of 3.84 USD, however, the price of the currency has not been heading in a very positive direction. This crypto asset has become at one point the second largest in the crypto market and nowadays it has not been doing so great. Considering its current price, XRP is down 93 percent from the high of 3.84 USD. However, XRP investors might be seeing improvement in the value of the digital currency. In the last quarter of 2019, the sales of Ripple’s cryptocurrency decreased by 80 percent.
In the second quarter of 2019, Ripple made a statement that the company would be more selective when it comes to XRP sales. Hence, in the third and fourth quarters of last year, the company did just that and, based on the last report published by the crypto company, only slightly more than 13 million USD worth of crypto assets were sold. On the other hand, in the third quarter of the year, over 66 million USD worth of XRP was sold, which was 80 percent larger than the fourth quarter. This is also comparatively much lower than the 251 million USD XRP sales in the second quarter and, in the last half of 2019, the sales of XRP have been the lowest in the last years.
Ripple Labs stated that the company intentionally decreased XRP sales in the third and fourth quarters of last year with one of the most important reasons for this was to focus on institutional sales with Ripple partners in order to build liquidity of the crypto coin in different regions around the world.
In June of last year, Ripple Labs has also started using data from CryptoCompare, instead of CoinMarketCap. After that, the daily volume of the crypto asset dropped.