Ripple (XRP), a fintech startup building a global blockchain payment network for financial institutions, released its third-quarter market report this week, revealing that it sold $163 million in XRP during the quarter.
According to the report, Ripple sales accounted for 0.43% of global XRP volume. $65.27 million worth of XRP was sold programmatically by Ripple, while $98.06 million worth of XRP in institutional direct sales by XRP II, LLC, a Ripple subsidiary.
Sales of XRP were more than double that of the previous quarter, where Ripple’s programmatic sales totaled $56.66 million while the sales made by XRP II, LLC were $16.87 million.
Ripple also states in the report that it released three billion XRP out of cryptographic escrow, and returned 2.6 billion XRP to escrow. This leaves roughly 400 million XRP not in escrow, which the company notes will be used to further expand its business operations and ecosystem.
XRP is currently trading for $0.4543, giving the altcoin an $18.26 billion market cap and making it the 3rd largest coin in the AltDex 100 Index (ALT100), a benchmark index for large-cap cryptocurrencies and tokens.