Global XRP Volume Skyrocketed 98 Percent in Q2: Report

According to Ripple's Q2 report, XRP, the sixth-largest cryptocurrency by market cap, saw its trading volume soaring to $4.4 billion in the second quarter of the year, logging a 98 percent quarter-over-quarter increase.

It is worth noting that XRP also had four days with the highest trading volume throughout its entire history.

The Ripple-affiliated cryptocurrency started Q2 with a bang. During the first two weeks of April, the XRP price skyrocketed by an eye-popping 245 percent and reached a multi-year peak of $1.96.

The rally, however, didn't have legs. XRP crashed 30 percent from its local top within a week and later succumbed to the broader crypto market correction in mid-May. Still, the cryptocurrency was up roughly 15 percent in Q2.

Due to these topsy-turvy moves, XRP's volatility spiked to 11.5 percent, which is much higher than that of Bitcoin and Ethereum.

Ripple's XRP sales grew 5 percent

Ripple—which was taken to court by the U.S. Securities and Exchange Commission for allegedly violating the federal securities laws with its XRP sales—sold another $157.92 worth of the token in the second quarter.

Its sales grew 5 percent from $150.34 million the San Francisco-based company reported in the first quarter.