September 18, 2020

Ripple reported a significant decrease in XRP sales in Q3 2019

Ripple reported a significant decrease in XRP sales in Q3 2019

Ripple reported to the community about the work done in the 3rd quarter of 2019. According to a document published on the official website of the company in questionperiod, XRP sales decreased almost threefold and amounted to $ 66.2 million. Note that this indicator is 74% lower than the record set a quarter earlier ($ 251.5 million).

The report states that the company intends to provideUnprecedented transparency in XRP coin operations while encouraging the industry to follow suit. Such steps will help build confidence and raise the bar in the industry.

According to the report, in the third quarter the price of XRPdecreased by 35.4%, while the total market capitalization of digital assets in the same period decreased by 30.4%. XRP trading volume fell 53% from $ 39.1 billion to $ 18.2 billion. During the quarter, 3 billion XRPs were released from escrow, while 2.3 billion were included in new escrow agreements.

The report says XRP is perfect“For global settlements, because the token is faster, cheaper, and much more scalable than other digital assets.” Compared to BTC, Ripple claims the following benefits from XRP:

  • Speed: 3.80 seconds (XRP) vs 9.2 minutes (BTC);
  • TPS: 1500+ (XRP) vs 7 (BTC);
  • Commissions: $ 0,0003 (XRP) versus $ 0,758 (BTC).
  • Ripple paid particular attention to the spread of FUD and misinformation about XRP. According to the report, the Internet was filled with "bots" that supply the network with unreasonable information on price manipulation.

    According to Ripple, we need to be above this and see technology as an opportunity to solve existing problems, and not as a religion.

    In conclusion, the company announced Ripple’s intention to continue to take active steps to eliminate misinformation and FUD, as a responsible and transparent participant in XRP.