Major cryptocurrency companies have always taken it upon themselves to ensure that their users know all about their workings and achievements. This has enabled companies like Ripple to create an ecosystem for growth and the fans are loving it.
Just recently, Ripple released its XRP Markets reports for Q4 2019 which talked about all the developments, partnerships and updates conducted by the company.
The Brad Garlinghouse led company has repeatedly stated that the report was a way to voluntarily provide transparency and regular updates on the company’s progress. One of the areas touched upon in the report was about XRP’s movements on the ledger.
As of December 31, 2019, the number of closed ledgers on the XRPL had exceeded 51 million. The number of known validators on the RippleNet has also risen to 150.
The validators ensure that no single entity can decide which transactions succeed or fail on the XRP ledger. According to the company, this has been the reason why no transactions on the XRP Ledger has ever been discriminated against or censored.
Ripple further talked about how the last quarter of 2019 was highly beneficial to the XRP community, netting net sales of $13.08 million. Although it was lesser than the 66.2 million generated in the third quarter, the figure was still healthy in the face of the bear market.
Ripple claimed that the total sales at the close of the quarter were at 8bps of CCTT while the previous quarter was 46 bps of CCTT. This was a 78 percent drop in the quarter over the quarter time frame. One factor that Ripple might want to take care of in the first quarter of 2020 will be its programmatic sales. While the company oversaw 16.12 million in programmatic sales in Q3 2019, it had none in the final quarter.
Due to the bear market. the total XRP volume had also fallen in the final quarter. XRP’s volume in Q4 2019 was 17.24 while it was $900,000 more in Q3. There was a drop in terms of daily returns also compared to the previous quarter. While the volatility of return rates in Q3 was 3.6, the same figure in Q4 was 3.1 percent.
One thing to note is that XRP’s volatility over the quarter was similar to that of Bitcoin and Ethereum. The top two cryptocurrencies held volatility of 3 percent and 3.1 percent respectively,
The report also talked about Ripple’s escrow market. According to Ripple:
“In Q4 2019, three billion XRP were again released out of escrow (one billion each month). Of note, in December of this quarter, Ripple returned a full one billion back to escrow, for the first time ever. In total across the quarter, 2.7 billion XRP were returned and subsequently put into new escrow contracts.”
One key area of focus for Ripple in 2020 will be the derivatives markets. XRP derivatives are available on Binance, Huobi and FTX, amongst several others. Ripple believes that a growing derivatives market is essential in the maturation of assets and in turn the industry.