Ripple Cuts Down its XRP Sales by 73% in Q3; Inflation Rate Lower Than ETH And LTC
- XRP inflation rate drops, now lower than that of ETH and LTC
- Ripple customers live with on-demand liquidity (ODL) increased by 75% last quarter
- Ripple clears FUD: XRP whales weren’t behaving any different than BTC or ETH whales
Ripple delivered on its promise to “take a more conservative approach to XRP sales in Q3” and “substantially” reduce the sales as in its Q3 report the company reported a whopping 73.7% decrease in Q3.
In comparison to Q2’s $251.51 million, in Q3 2019, total XRP sales were just about $66.24 million.
While the goal for programmatic sales for Q3 has been 10 basis points, Ripple ended below that at 8.8 bps. The fact that they pause the programmatic sales altogether contributed to that along with its focus on over-the-counter sales for a few strategic partners.
Now for Q4 as well, the company is planning to maintain a similar approach to Ripple’s XRP sales.
In this quarter, the company released 3 billion XRP but returned 2.30 to escrow.
In Q3 the overall market capitalization of digital assets lost 30.4% while XRP price declined 35.4% Q/Q.
The daily volume of XRP decreased as well, going from $429.51 in Q2 to $198.10 million in Q3, however, it was higher than that in Q1 at $156.01 million. XRP volatility took a hit as well, reducing from 5.0% to 3.6%, beating BTC (3.9%) and ETH (4.3%).
Additionally, XRP is now listed on over 140 exchanges worldwide.
Ripple further put light on its partners, stating its customers live with on-demand liquidity (ODL) increased by 75% last quarter while dollar volume on ODL increased over five times than Q2.
Ripple Clears FUD
This time, Ripple addressed the FUD even in its quarterly report, saying last quarter saw an uptick in fear, uncertainty, doubt, and misinformation around XRP.
About the dumping XRP allegations, Ripple said large movements of XRP were actually the transfer between Ripple treasury and escrow management accounts and that XRP whales weren’t behaving any different than BTC or ETH whales.
As for the price manipulation allegations that Ripple “made XRP price fall,” in its defense, the company said it cannot control the price and that “XRP exists independently of Ripple.” It further stated that Ripple is aligned with other XRP stakeholders and is an interested party in its success, so this allegation won’t even make sense.