Ripple’s XRP Sales Are Down By 73% In Q3: Analysis

Ripple’s XRP sales are down by 73 percent in the third quarter compared to the previous one and it seems like that the blockchain payment network sold $66.24 million worth of XRP in Q3 2019. Let’s find out more about the statistics in the XRP news today.

The payment processor announced that their sales are down by 73% which is a huge drop from the previous $251 million in the second quarter. According to the third quarterly report which was released a day ago, Ripple’s XRP sales resulted in a drop since the company announced its plan to slow down with the sales in the third quarter.  Ripple also stated that the XRP distribution rate since the start of the quarter has been lower compared to the inflation rates of ETH and LTC and BTC.
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The company also noted the allegations that it is dumping XRP on the market and it is trying to manipulate the price by claiming that a significant portion of such ideas will be spread by bot accounts on Twitter. According to the report:

‘’ The dumping accusations usually point to large movements of XRP as proof but those were in fact transfers between ripple treasury and escrow management accounts. Such transactions have no impact on the market since they do not introduce new coins to it.’’

What is also interesting is that Ripple also claimed that according to a new tool that was developed by the Indiana University, the bots are seemingly responsible for 49 percent of the share of conversation about BTC, 71 percent about ETH and 50 percent about XRP. The reports add that this quarter has also seen increased XRP-related activity among the Twitter bots. As it was previously reported, the London-based Finstra which is the third-largest financial services technology company in the world has partnered with the blockchain payment network Ripple to grant its customers access to the RippleNet blockchain network. Also, the CEO of the company claimed that Ripple has more than $300 million in cash in their bank accounts and that it makes up to 30 deals per week. This was slightly made fun of in the crypto space but in the upcoming days, we are about to see what the future brings for Ripple.