In the first quarter of 2019, Ripple sold the equivalent of $ 169.42 million in XRP, with a growth of more than 31% compared to the last quarter. This was revealed by the company on April 24th.
Although $ 169.42 million represents a 31% increase compared to € 129.03 million in the fourth quarter of 2018, Ripple's institutional direct sales figures show even greater growth. In the last quarter, the company's institutional sales touched $ 61.93 million, up more than 54% compared to the 40.15 million of Q4 2018.
As for the first quarter's escrow activity, the company reports having released 3 billion XRP (1 billion per month): however, of these, 2.3 billion would have been returned and included in new deposit contracts with warranty, while the remaining 700 million XRPs released are used in various ways to support the Ripple ecosystem.
The report states that the volatility of XRP in Q1 2019 daily yields was 2.9%, the lowest value since Q4 2013. As for the volatility of the token in 30-day returns, the report stresses that it is constantly decreased during the quarter, reaching levels not seen since Q3 2016.
The average daily volume of XRP is equal to 595.28 million dollars, even if the price of the token has decreased. Furthermore, the 30-day correlation with other important cryptoassets, such as bitcoin (BTC) and ether (ETH), remained consistently high throughout Q1 2019.
The RippleNet system was implemented by major new banks, including the India Federal Bank and BankDhofar. In January, when RippleNet outperformed 200 customers, company CEO Brad Garlinghouse declared that the volatility risk affecting fiat currencies during weekend market closures contributed to the network's popularity.