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Ripple’s XRP Sales dropped by 80% in Q4 2019; hit an all-time low

Ripple’s XRP sales have hit an all-time low in the 4th quarter of 2019. Ripple announced the reports in a blog post a couple of days ago. In Q4 2019, Ripple has sold XRP tokens worth $13.08 million, which is 80% lower than that sold in Q3.

Quarterly XRP sales have dropped consistently throughout 2019, and this was expected. In the middle of 2019, Ripple paused programmatic sales. It then stated, “In the short term, this means Ripple’s sales of XRP in Q2 2019 will be substantially lower (as a percentage of reported volume) than in the previous quarter. Our stated target of 20bps for programmatic sales of XRP volume, as reported by CoinMarketCap, is likely to drop to less than 10bps. Longer-term, by being more demanding about our expected standards for market structure and reporting, we hope to begin raising the bar industry-wide.”

Ripple paused programmatic sales to address the issue of misreported trading volumes on cryptocurrency markets. In July 2019, Ripple announced, “Ripple’s programmatic XRP sales have been done with the goal of minimizing market impact. The company did this by limiting XRP programmatic sales to what it considers a small percentage of traded volume, which was executed across multiple exchanges. Ripple relies on programmatic sales partners who mainly execute trades passively. Their trading volumes do not vary based on changes in the price of XRP, but they do increase as overall XRP trading volumes increase.”

The price of XRP has also not been impressive in 2019, with a two year low of $0.183 in December. 
The post Ripple’s XRP Sales dropped by 80% in Q4 2019; hit an all-time low appeared first on BlockInspect . shares this Contents always with License.

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