Ripple Sales of XRP See a Striking Downfall by 74% to $66.2 Million

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

Ripple’s Q3 2019 XRP Markets Report reveals a noticeable downfall in its XRP. With the sale of $66.2 million of XRP in Q3 2019, Ripple falls straightly down by 74% in comparison to its sale in Q2 which stood at $251.5 million.

According to an official report displayed by Ripple

“Ripple was gifted a portion of (the 100 billion units of) XRP and periodically sells a small amount of that into the market.”

While the overall market capitalization of the digital assets saw a decrease of 30.4%, the price of XRP fell by 35.4%. The same period also witnessed XRP volume decreasing by 53% from its initial $39.1 billion to eventually reducing to $18.2 billion.

The report also emphasized the ideal nature of XRP for global payments due to factors like fast speed and less cost while being far more scalable as compared to many other digital assets. Ripple had recently made a good comparison between XRP and BTC in which it markets the superiority of XRP over BTC by raising the many valid points. The first factor of comparison was the speed, while XRP speed is 3.80 seconds, BTC stands on a speed of 9.2 minutes. Likewise, the TPS for XRP was 1500+ against 7, the TPS of BTC. Another concrete parameter, they were compared through was the Fee, while the XRP was on $ 0.0003, BTC hits $0.758.

The report mainly revolved around and emphasized on fear, uncertainty and doubt regarding the misinformation spread about it. The report was mainly trying to address the FUD. Ripple claimed that it is absolutely untouched and plays a very limited role if it comes to ‘’ dumping XRP’’ and flooding the market via sales and of course the accusations associated with price manipulation.

Ripple says that it is totally depended on people how they perceive the FUD and overcome it and it concluded the report by stating that it would actively take steps to give a good answer to such misinformation and FUD keeping transparency as a priority.

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