Ripple has stressed that XRP is not centralized after slashing its holdings to less than half of the cryptocurrency’s total supply
in his recently published Reporting Q3, Ripple has revealed that it now accounts for less than half of the total supply of the XRP cryptocurrency for the first time ever.
Ripple CEO Brad Garlinghouse described this event as a “huge milestone” for the company, adding that it is clear that XRP has “real utility.”
The XRP cryptocurrency has been regularly criticized for its alleged centralization. This criticism stems from the fact that Ripple controls most of the supply of the token.
In mid-December, Ripple locked 55 billion XRP (the majority of its supply) in a series of escrow wallets, pledging to release a billion tokens per month in order to ensure price stability.
In its report, the company claims that it operates only four of the 130 existing validator nodes on the XRPL Ledger, denying allegations of centralization.
Ripple sold $310 million worth of XRP in Q3
As reported by U.Today, Ripple sold a total of $408 million in the second quarter. In the third quarter, total XRP sales declined to $310.68 million, according to its most recent report.
The company claims that it continues to sell tokens only in relation to an On-Demand Liquidity (ODL) product. The ODL solution uses tokens to seamlessly bridge the two fiat currencies.
The company hasn’t conducted any programmatic sales since February 2019.
Ripple’s total sales in the third quarter accounted for 0.42% of global XRP volume.
