Ripple’s XRP treasury has dropped below 50 percent of the total circulating supply for the first time in the company’s history.
Ripple has faced a lot of criticism for holding large amounts of XRP in the past. It was alleged that the company centrally controlled the XRP Ledger (XRPL) with the XRPs it bought. The foundations were laid for the beginning of a long-running lawsuit regarding the Token. XRP also plays the leading role in the court diaries between the SEC and Ripple.
XRP Amount in Ripple’s Vault Is 50 Percent Below Total Supply
In Ripple’s third-quarter report, it was reported that XRP savings fell below 50 billion tokens, or 50 percent of the total supply.
In response to the criticisms made for XRP, Ripple said that the fact that the company owns XRP is not correct, indicating that the XRP Ledger is managed by Ripple.
Below 50% – a huge milestone! For 10 years, Ripple has focused on using XRP & the XRPL within our products for its speed, security and scalability for movement of value. As more customers use XRP in their payments flows, it’s clear there is real utility here. https://t.co/jKZwye17uZ
— Brad Garlinghouse (@bgarlinghouse) October 27, 2022
Ripple’s third-quarter report stated that total net sales of XRP fell to $310.68 million, compared to $408.9 million in the second quarter.
The report also noted that Ripple continues to sell XRP only in conjunction with ODL transactions, and ODL volumes are increasing as Ripple’s ODL [Liquidity On Demand] business expands globally.
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