This article was first published on: Insights – Ripple --
In order to continually improve the health of XRP markets globally, we will share regular updates on the state of the market including quarterly sales, commentary on previous quarter price movement and related company announcements.
In Q1 market participants purchased $6.7MM directly from XRP II, LLC*, Ripple’s registered and licensed money service business (MSB). These buyers tend to be institutional in nature and their purchases include restrictions that help mitigate the risk of market instability due to large subsequent sales.
Market Commentary: A Quiet Start to a Raucous Ending
Though Q1 2017 began much in the same way as Q4 2016, quietly, it ended with a dramatic spike in market activity.
During January and February daily volatility** decreased to 2.47%, significantly lower than Q4’s already stable 3.26%. Average daily volume in those first two months fell to $1.22M, 55% lower than Q4 volumes, and the price slowly moved lower, briefly touchin...
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