Ripple Reports Uptick in Investor XRP Interest as Sales Triple in Q2

A new report from Ripple suggests institutional investors are increasingly interested in its native cryptocurrency.

AccessTimeIconJul 20, 2017 at 3:45 p.m. UTC
Updated Dec 11, 2022 at 1:53 p.m. UTC

A new report from distributed ledger startup Ripple suggests institutional investors are increasingly interested in its native cryptocurrency, XRP.

According to the San Francisco startup, its licensed subsidiary sold $31 million worth of XRP during Q2 2017 The figure was up threefold from Q1, when it recorded $6.7 million in sales.

According to the report, $21 million in such purchases came from institutional investors who actively approached the company through Ripple's licensed money service business. The company sold an additional $10.3 million XRP in a more passive way through sales of the asset to fund its operations.

On public exchanges, Ripple also noted an increasing volume of fiat-for-XRP purchases during the same period, again suggesting an increasingly more mainstream audience.

While bitcoin contributed to 85% of total exchange-traded XRP volume in Q1, this number dropped to 63% by the end of June, according to the company.

As of press time, XRP is trading at $0.17, down from $0.40 on May 17, its most recent all-time high.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Ripple token image via CoinDesk archieves


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.