Ripple is notorious for offloading a large amount of XRP, a move that has angered investors for a long time. A new report might tick off investors a bit more, as it has highlighted specifics on Ripple’s consistent dumps. The report said Ripple has sold at least 5.4 billion since 2017.
The XRPArcade report says that over a period of 27 months, the company unlocked 27 billion XRP from escrow. However, XRPArcade says that a total of 21.6 billion was returned, leaving 5.4 billion XRP which Ripple sold. This figure means that on average, Ripple dumped about 200 million XRP every month.
Ripple CEO Brad Garlinghouse has said many times that XRP is very different from the company. Garlinghouse says that while Ripple holds a large amount of the asset, XRP would keep on trading if something ever caused Ripple to shut down.
This explanation has done nothing to placate members of the XRP community who are largely unimpressed with Ripple’s moves.
Ripple has also said a few times, that the frequency and volume of XRP it dumps, is a little too small to have any effect on the market price of XRP. The company has now quite significantly reduced the volume and frequency of XRP sales.
Image Credits: Pixabay
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