Ripple Slashes XRP Sales in Q3 – Selling $66,240,000 in Crypto to Institutions and Exchanges
Ripple dramatically reduced the amount of XRP it sold in the third quarter of 2019.
In its lastest Q3 XRP Markets Report, Ripple says it sold $66.24 million compared to $251.51 million in the second quarter.
Ripple sells portions of its XRP holdings to institutions and programmatically on crypto exchanges. Here’s a breakdown of Ripple’s Q3 numbers compared to Q2.
Ripple owns about 55 billion XRP, with the majority locked in escrow.
Back in December of 2017, the company created 55 escrow accounts, each containing 1 billion XRP, in an effort to assure investors that it would not sell off its holdings all at once.
Each month, Ripple releases 1 billion XRP from escrow, sells a portion and returns the rest back into a new escrow account.
Ripple hasn’t indicated whether it plans to sell more or less XRP in the fourth quarter of 2019 but says it is exercising “continued discipline” in the way it handles its XRP holdings.
You can check out the full report here.