Ripple announced that it sold $66.24 million worth of XRP in Q3 2019, down by 73.66 percent against the previous quarter’s record sales of $251.51 million. Ripple’s XRP Sales dropped 73% in Q3 to $66.24 million.
Ripple previously announced the plan to sell XRP tokens less aggressively in Q3, according to the quarter’s report released on Oct. 18.
In a press release, Ripple stated that an “XRP distribution rate since the beginning of the quarter has been lower compared to the inflation rates of ETH and LTC, and similar to BTC.”
The overall market capitalization in Q3, fell for digital assets, with the overall market cap falling 30.4%. XRP price dropped quarter-on-quarter (QoQ) by 35.4 percent.
Three billion XRP has been issued from cryptographic escrow, 2.30 billion XRP has been returned to escrow. As of now, XRP is listed on over 140 exchanges worldwide.
The company said that it is looking ahead to Q4:
“we will continue to monitor volume developments closely and intend to maintain a similar approach to Ripple’s XRP sales as compared with Q3.”
Comparing XRP to Bitcoin, the company said that it believes that “bitcoin’s utility is often highlighted as a store of value, we believe XRP is by far the best digital asset for global payments.”
Ripple is rapidly expanding its staff on a global scale to keep up with strong customer demand. Iceland will act as one of Ripple’s technology hubs with plans to bring more technical talent to Europe.
The following benefits for XRP were claimed by Ripple
- Speed: 3.80 seconds (XRP) vs. 9.2 minutes (BTC)
- TPS: 1500+ (XRP) vs. 7 (BTC)
- Fee: $0.0003 (XRP) vs. $0.758 (BTC)
As per Ripple:
“It’s on all of us to rise above the FUD and the tone-deaf who treat digital assets like a religion instead of technologies that can solve real-world problems.” The company closed its report by stating that “Ripple will continue to take proactive steps to address misinformation and FUD while being a responsible and transparent stakeholder of XRP.”