A Run Through on ‘Growing Ripple’s Utility’, $535 Million XRPs Sold in 2018

Ripple has sold a sum of $535.56 million in XRP tokens in 2018, as per the report. Out of which, approximately around a third of $171 million has flown in from institutional clients while over $363 million has been added in the form of revenues from third-party market makers.

Ripple has been steadily building an ecosystem, which happens to be a niche in the world of interbank payments. The Ripple company recently announced its collaboration with nearly about 200 clients and foresaw a 350 pct surge in the client base transacting live payments. The company's ability to transact overseas payments swiftly and efficiently is observed as a competitive edge, as a result, banks’ experimentation, if not, complete transformation from its current Society of Worldwide Interbank Financial Telecommunications (SWIFT) system to DLT system.

The gamut of financial services has been targeted market by the US-based start-up with two projects: xCurrent a DLT settlement system for international transactions as well as xRapid, which is an almost similar product, but with the utilization of XRP coins in the facilitation process.

Ripple reports that mounting utility for the XRP token is observed. XRP is now listed with over 100 platforms, which is almost a 100% surge in 2018.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -131 levels (which is bearish), hourly USD spot index was at -80 (bearish), while articulating (at 08:50 GMT). 

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