26 Oct 2018 Arjun Agarwal
Ripple Successfully Doubles Revenues in Q3 from Token Sale
In its Q3 market report, Ripple (XRP) shows that the company sold $163,33 million in XRP tokens, which doubles the Q2 $73,53 million sales. The revenue is being split between Ripple and its branch company XPR II, LLC. The latter saw a 30% rise from $65,27 million to $98.06 million.
Looking further into details, during the period Ripple (XRP) sold almost 3 billion tokens – 1 billion each month – which equals the tokens released from April to June.
The top 3 cryptocurrency team stated that the remaining 400 million XRP tokens, which weren’t returned to escrow would be utilized to support the XRP ecosystem.
Comparing the figures to the same period last year, Q3 2017 shows $19,6 million in revenue from XRP II, LLC, opposed to $32,6 million in revenue in Q3 2018.
Ripple also noted that despite cryptocurrency market volatility, XRP showed steady growth and an increase in trading volume in Q3.
In September, Ripple announced that the company would lead cooperation of fintech and crypto startups - Securing America’s Internet of Value Coalition. The primary objective for the association is to weaken the resistance of government institution in recognizing crypto. The Coalition aims to encourage crypto and blockchain innovation, and also support a transparent, competitive market.
Ripple plans to give $25,000 and 10,000 XRP tokens to Klein/Johnson Group, a lobby group, to convey regulators the blockchain and cryptocurrency industries need support from the government.Crypto Market Ripple