Ripple Reaches “Huge Milestone” as It Now Holds Less Than Half of Total XRP Supply

Oct 30,2022
Ripple Reaches “Huge Milestone” as It Now Holds Less Than Half of Total XRP Supply

ThenRecently publishedIn the third quarter statement, Ripple revealed that the total output of XRP cryptocurrency held by Ripple at this stage was less than half for the first time

Ripple CEO Brad Garlinghouse described this event as a "great milestone" of the enterprise, and added that it was very obvious that XRP had "real effect"

XRP cryptocurrency is often blamed for its so-called centralization. Such accusations stem from Ripple's control over most of the supply of tokens.

In the middle and late December, Ripple determined 55 billion XRP (the vast majority of its supplies) in a series of escrow wallets, and promised to sell 1 billion tokens every month to ensure price stability.

In the statement, the enterprise claimed that it only operated 4 of the 130 verifier connection points on XRPL ledger, denying the centralized accusation

Ripple sold a significant $310 million XRP in the third quarter

imageReported by:Ripple sold $408 million in the second quarter. According to its latest report, XRP's total sales fell to 310.68 million dollars in the third quarter

The company claims that it once again only markets tokens on ODL products. ODL solution uses tokens to seamlessly connect two currencies

Since February 2019, the enterprise has not made any targeted marketing

In the third quarter, Ripple's total sales accounted for 0.42% of the world's XRP sales