Ripple, a San Francisco-based digital currency start-up, recorded $11.06 billion worth of transactions in the second quarter of 2017 as 25 new exchanges listed its token, XRP.
XRP finished the quarter priced at $0.263, up by 1,159 percent from the previous quarter and 3,977 percent higher year-to-date. It is currently listed on 30 exchanges.
The currency from the five-year-old company boasts the third-largest market capitalization in the space — behind bitcoin and ether.
XRP, unlike Ethereum and Bitcoin, is owned largely by Ripple. The company has released plans in May to structure the sale of its currency, and that announcement was instrumental to driving up interest in the second quarter, according to Miguel Vias, Ripple’s head of XRP markets
“With respect to XRP, we are incredibly focused on international payments, I think we are probably the only digital asset that has a clear use case with respect to what we are trying to do with the asset,” he said.
Trader I. Ivanov