XRP volatility takes a dip while average daily volume increases significantly reports Ripple in its quarter 4 report. Meanwhile, XRP liquidity is on the rise as total exchange counts move over 100. Catalyst Corporate announces plans for xRapid and XRP integration.
Over $40 Million Worth of XRP Sold to Institutions
In its latest report covering the quarter 4, Ripple has sold nearly $130 million worth of XRP, that accounted for 0.24 percent of global XRP volume. While over half a million worth of XRP has been sold in the entire year of 2018.
“In addition, XRP II, LLC — a Ripple subsidiary that is a registered and licensed money service business (MSB) — sold $40.15 million worth of XRP in institutional direct sales.”
Meanwhile, three billion XRP has been released out of escrow, out of which 2.4 billion XRP was returned and 600 million XRP were used to support the XRP ecosystem.
XRP Liquidity Increases while Volatility Takes a Dip
During this quarter, the XRP volatility dipped in comparison to the previous quarter which as the report puts,
“XRP’s volatility of daily returns was 5 percent – the lowest quarterly average since Q4 2016.”
XRP 3-months price chart, Source: Coinmarketcap
While the average daily volume of XRP increased substantially amounting to $595.7 million that was the highest quarterly average since Q1 2018.
When it comes to liquidity, XRP added 30 new exchanges in Q4 that increased the number of exchange XRP is listed on, to more than 100. Another development came into the form of XRP as a base pair on nine exchange where Binance, the world’s largest crypto exchange was the biggest one.
Catalyst Corporate’s Biggest Plan: Strategic Partnership with Ripple
Back in October 2018, Ripple made xRapid that uses XRP for on-demand liquidity commercially available. MercuryFX Cuallix and Catalyst Corporate Federal Credit Union were the first ones to sign on for utilizing xRapid for cross-border payment service.
Recently, Catalyst shared its future plans for xRapid and XRP integration between the Mexico and the USA corridor.
“One of Catalyst Corporate’s biggest plans in 2018 was the conclusion of a strategic partnership with Ripple. The leading provider of Blockchain solutions for companies in payment transactions,” said Kathy Garner, the CEO of Catalyst Corporate Federal Credit Union. “Our goal is to send international payments to Mexico via Ripple’s blockchain solution. With this cooperation, known as “Currentz”, secure cross-border money transfers can be accomplished within minutes.”
The company’s COO, Brad Ganey believes Ripple has the potential to improve the international payments transfer.
“Traditional international payment processing does not meet today’s expectations in terms of price, speed, and ease of use. Ripple’s Blockchain technology and especially the xRapid product solve all three challenges simultaneously.”
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.