An overview of the Ripple Quarter 2 Report


hello folks you have reached the cryptocurrency portal here on Wednesday July 24th just going over some information about ripple ripple as you probably know over the last couple years and especially last year has come out with a wealth of information wealth of partnerships that they’re partnering with obviously summer under NDA’s non-disclosure agreements so we don’t even know about those yet we heard about MoneyGram a few weeks ago so they’ve just come out with their quarter to 2019 update in their market report we wanted to kind of go over it because with the plethora of information that has come out about ripple over the last quarter it’s interesting to reflect on what has actually happened in one document so we wanted to go through their quarter to market report which will actually link in the description at the bottom so if you’d like you can go read it yourself but we’re gonna sit here and go through it because I know that everyone learns differently some people might be driving to work some people might just be working out and you want to listen to the report so we’re gonna go through it for you but if you’re the type that learns by reading yourself again we will link it below so let’s go through this quarter to 2019 XRP Markets Report now ripples the quarterly XRP Markets report to provide regular updates on the state of the market including quarterly programmatic and institutional strategy and sales relevant XRP related ounces such as expert and ripple net partnerships in commentary on previous quarter market developments as an owner of XRP Rippa believes in proactively transparency and in vini responsible take stakeholder ripple urges others in the industry to follow its lead to build trust foster open communication and raise the bar industry-wide change in volume benchmark in June 2019 ripple shared that the company’s sales of X are P and quarter to 2019 would be a be lower as a percentage of a reported volume than the previous quarters due to the concerns about miss reported falsified and inflated reporting trading volume ripple worked with trusted partners to evaluate new source of legitimate trading volume after evaluation ripple decided crypto compares top-tier CCT the exchange is rated a a a and B by its exchange benchmark offers a more complex look of the quality regulatory environment management and structure of exchanges that filter out the majority of unverified volumes publicly available sources of trusted trading volume are still in relatively early stages but CC TT is in line with what Ripa believes to be more accurate XRP trading buttons for now ripple will use CC TT as its benchmark and will continue to work proactively with industry partners participants toward resolving the issues around unreliable industry volume data quarter two highlights overall market capitalization of digital assets sharply increase in quarter two ripples sold two hundred and fifty one point five 1 million x RP in terms of dollars in q2 2019 and a substantially reducing future sales of x RP that’s interesting focus on that piece they’re substantially reducing future sales of XRD x RP given the concerns about overstated market trading volumes crypto compare will be ripples primary benchmark for x RP market volume going forward three billion x RP were released out of the cryptographic xx 0 2 point 1 0 billion returned escrow x RP is now listed on over 100 in 30 exchanges worldwide so here’s how they break down their sales summary in terms of institutional direct sales problematic sales their total sales getting down that the 259 in quarter 2 as you see as this is 251 as you see is it just reported above quarter 1 was 169 and the global x RP volume you can see the average extra p dollars and millions excerpt total extra feet volume you see that their total sales as a percentage of total volume so that’s interesting there we go so quarter 2 in future XR p sales in quarter to 2019 XR p s– sold 106.8 seven million dollars of xrp in institutional direct sales and 144 point six four million in programmatic sales in total the company sold 250 1.51 into you two given the reports of inflated volumes which ripple took seriously the company may temporarily pause programmatic sales and place limits on institutional sales to evaluate the problem in early q2 Ripa later resumed XRP sales at a rate that was 50 percent lower than previous guidance a 10 basis points of coin market cap reported volumes future sales ripple plans to take a more conservative approach to XR period sales and in quarter 3 as noted the company’s switch to benchmarks to see CTT and will target programmatic sales at 10 basis points of CC tt reported volumes institutional versus programmatic sales institutional sales ripples long-term view is that efficient liquid XRP markets should resemble the traditional FX markets give an extra piece use case of global value transfer as a large portion of xx FX trading occurs on the OTC markets in 2017 ripple began providing through XRP to a licensed subsidiary OTC purchases of x arts P to meet institutional demand and in time when XR p to the u.s. dollar liquidity was limited since then XR p listings have increased as ripple is partnered with the top digital asset brokers and used inventories to serve as a backstop for XR p liquidity this allowed these OTC liquidity providers the ability to source x RP even win institutional quantities of x RP were difficult to access across exchanges riffle decided to pull back from providing XR p over-the-counter at scale towards the end of quarter 2 in light of the OTC desks ability to source institutional demand for x RP in the open markets going forward Ripa plans to focus institutional sales and markets where the on exchange liquidity for x RP is insufficient to meet institutional demand programmatic sales ripples programmatic x RP sales have been done with the goal of minimizing market impact the company did this through limiting XRP programmatic sales to what it considers a small percentage of trade volume which was executed to cross multiple exchanges rippled relies on programmatic sales partners who mainly execute trades passively their trading volumes do not vary based on changes in the price of XRP but they do increase his overall XRP trading volumes increase as discussed earlier because of misreported trading volumes ripple has changed as sales strategy and benchmark for quarter 3 and will continue to closely monitor the situation cute to escrow activity in q2 2019 3 billion XRP were released out of escrow 1 billion next month 2.10 billion XRP will return and subsequently put into their new escort contracts the remaining nine hundred million XRP not returned to escrow are being used in a variety of ways to develop use cases for XRP including ex spring initiatives and ripple net partners such as money groom all figures are reported based on transactions executed during the quarter XRD commentator commentary the overall market capitalization of digital assets increase by one hundred and twenty two point eight thirty six percent from q1 XRP price gain 28.2% over q2 ending the quarter at 0.40 on coin market capcom volume according to ccitt the volume daily volume XRP increased in q2 the average daily volume was four hundred and twenty nine point five million in q2 and 156 million in q1 huge huge difference there well for reference according to point marking up the average day of the XRP volume was one point seven fourth billion volatility and correlation XR peas volatility and daily returns over the quarter was five point zero one percent though there was a slight increase in volatility from q1 XRP was in line with other top top digital assets in addition XR peas correlation with Bitcoin dropped from q1 while its correlation with other ether remains the same and high in q2 twelve exchanges listed xrp bring the total number to over 130 exchanges worldwide ripple net q2 saw the highest number of customer transactions on ripple net in fact the number of ex rapid transactions increased 120 percent from q1 to q2 and ripple had a 30% increase in the number of live ex rapid partners in q2 ripple anticipates this momentum and transaction volume to continue as more partners and customers go live notably in q2 ripple announced it agreed to intern to a strategic partnership with MoneyGram on NASDAQ it’s Lissa’s MGI one of the world’s largest money transfer companies the company operates in in the 600 billion dollar global remittance market serving millions of customers in more than 200 countries in territory supporting multiple currencies through this partnership which will have an initial term of two years ripple would become money Gramsci partner for cross-border payment in foreign exchange settlement using digital assets in conjunction with the partnership ripple has agreed to provided capital commitments to MoneyGram which enables the company to draw up 250 million dollars in exchange over for equity over a two year period the partnership with ripple focuses on the ex rapid product X rapid as a solution for on-demand liquidity which leverages XRP the need of digital asset of XRP ledger as a real-time bridge between the sending and receiving currencies X spring X spring is ripples initiative the to support the open source community of developers building on the decentralized XRP ledger and use cases for XRP on that ledger this support is done in two ways number one helping an innovative blockchain projects and grow through partnership and investment and to building crypto infrastructure through contributions to open source crypto protocols such as the XRP ledger and inter ledger projects in addition X prime is building a developer platform to support open source developers to leverage these protocols X brain makes investments using a mix of traditional currency and x RP x RP investments are generally subject to sales restrictions and intended for direct use and the tools and services being developed these and developers continue to build on the XRP ledger and utilize the ILP the Internet ledger protocol and XRP significant developments from companies and projects which explain Vesta and supports include bolt labs is a privacy focused payment channel network supporting multiple digital currencies both scales off chain transactions while preserving privacy a goreck enables developers to build secure smart contracts and new digital assets that can connect to public and private blockchains robot ventures is a pre seed investor in early-stage companies in the centralized finance and blockchains face market commentary notable regulatory activity the SEC announced that it would establish nodes on certain open source permissionless Ledger’s such as the XRP ledger to help inform its policy making the UK’s financial conduct authority analyzed the X Arpita at eath which is recognized was a hybrid utility exchange token and not a security token technology companies enter this space new entrants into the ecosystem brought global awareness around crypto and blockchain most notably Facebook’s announcements of the Libre white paper in June brought mainstream attention from all audiences akin to JP Morgan’s announcement of its JPM coin trial the news brought market validation to the space highlighting the benefits that blockchain and crypto bring to payments however Facebook faced significant regulatory headwinds as regulators questioned the company’s ability to protect consumer data and comply with anti money laundering and know your customer laws Facebook was not the only tech company that announced it was breaking into crypto and blockchain this quarter Amazon was granted a patent to build a proof-of-work cryptographic system to fight DDoS attacks also Amazon Web Services launched its managed blockchain service which supports open-source framework hyper ledger fabric for its enterprise clients Yahoo Japan went live with tayo tayo it’s currently cryptocurrency exchange where Bitcoin and ether will be initially traded in margin trading of x RP and litecoin will be available Google announced that etherium app builders using Google software will be able to integrate data from source outside the blockchain through partnership with chain-linked Samsung announced the development of its own ethereal Facebook chain a May issue its own token increased institutional interest digital assets experienced the increasing levels of institutional interest over the past three months last quarter future trading and other crypto derivatives were widely discussed as the market capitalisation of digital assets increased cm e reached a record high for BTC futures and backed announced plans to begin testing its futures contracts banks continued to bet on crypto and blockchain established banks continue to show interest in blockchain and cryptos that build their own private blockchain solutions and tokens last quarter a group of 14 financial firms led by ups including Barclays Santander and Canadian Imperial Bank of Commerce created finality and international to aid the development and launch of a utility settlement and join USC to improve cross-border payments JPM JPMorgan announced that it will start customer trials office JPM coin with corporate clients and Goldman Sachs CEO said the Bank is doing extensive research on asset tokenization in stable coins crypto exchanges reported record trading volumes and profit traditional brokerage firms plan to offer cryptocurrency trading to their institutional clients additional regulatory highlights in q2 Americas in Europe the g20 officially announced his support of the F ATF’s crypto guidelines an ongoing work by the Financial Stability Board FSB to explore the implications of decentralized FinTech and how regulars can better engage stakeholders SEC Commissioner Hester Pierce said current guidance fall short of clarity that the industry needs to move forward to develop additional guidelines in the name regarding crypto France pushed for the EU to adopt a cryptocurrency framework to achieve uniform laws bitstamp was granted a virtual currency license by the New York Department of Financial Services the sec suit kick for allegedly running an unregistered security sale back in 2017 when it launched an IC o fort skin token UK’s financial conduct authority is consulting on a potential ban on the sale of crypto derivatives to retail investors APA see the Reserve Bank of India consider the law that mandates payments data should not be allowed to leave its borders and announced a framework for its FinTech sandbox that invites blockchain projects to take part but excludes cryptocurrency related businesses Nepal banned a leap a and WeChat pay citing their not registered as official payment systems Japan’s lower and upper houses passed new crypto regulations in National Diet Japan’s bicameral legislature to strengthen local regulations and cryptocurrency trading practices South America Brazil established a new Commission to consider crypto regulation in the country the Commission will be composed of 34 members in accordance with the house rules of procedure also the country’s major financial authorities announced a regulatory sandbox for blockchain FinTech and crypto the Chilean government introduced a bill and crypto currencies for Congress middle eastern Africa Egypt lifted its ban and will allow licensed cryptocurrency companies Pakistan central bank announced its intention to launch a digital currency by 2025 in an effort to go fully digital by 2030 in the conclusion q2 was marked by increased regulatory activity landmark partnerships and high-profile announcements from new entrants and key industry players these activities underscore the continued maturation of the blockchain and crypto markets in addition ripple has taken proactive steps to address the issues and inflated volumes by reducing future XRP sales and change in its volumes benchmark if interested please find the Q 1 2019 XRP market support here so that’s the latest q2 update from ripple folks thank you for tuning in again this is the cryptocurrency portal here on Wednesday July 24th we’re always just bringing information about the crypto space in general we always tip our hat to any project or block chain or crypto that continues to move the needle in this space so we’ll keep highlighting them no matter who the company is who the token is so keep sending us this positive information about the space in general and we’ll highlight it so again in the the comments section below the video we will give a link to this two to report and we’ll give the link to the q1 report in case you want to refer back to it so again thank you for tuning in we deeply appreciate please subscribe to the channel please comment below and thank you for tuning in [Music]

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