Ripple reports a 31% rise in XRP sales in the first Q1 of 2019

• The firm says that it sold a sum of $169.42 million in XRP in the first three months of the year.
• About 2.30 billion XRP tokens were put back into new escrow accounts.

The San Francisco-based blockchain startup Ripple has posted a 31% rise in the sale of XRP in the first quarter of 2019. The firm says that it sold a sum of $169.42 million in XRP in the first three months of the year in comparison to $129.03 million sold in the last quarter.

The firm that focuses on developing cross-border payments systems reported $61.93 million in direct institutional sales of its XRP token representing a 54% increase from the previous quarter. The company’s programmatic sales went up from $88.88 million to $107.49 million representing a 21% rise.

However, there were some setbacks in terms of the globally traded volume of XRP which thinned by about 2% to $53.85 billion in 2019’s Q1 in comparison to $54.82 billion in 2018 last quarter. If the year-over-year sales are considered, XRP sales corrected lower by 1.03% from $167.7 billion sold in the Q1 of 2019.

The report also said that the company removed 3 billion XRP from the escrow accounts in Q1 2019 while about 2.30 billion XRP tokens were put back into new escrow accounts. “The remaining 700 million XRP not returned to an escrow are being used in a variety of ways to help support the XRP ecosystem.”