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Historic Lows for Ripple as Q4 of 2019 Saw XRP Sales Drop

 
Historic Lows for Ripple as Q4 of 2019 Saw XRP Sales Drop
Breaking News / Ripple
  • In the fourth quarter of 2019, Ripple’s sales took a bit of a hit... 
  • The sales of the token ended up reaching a historic low, near the end of the year. 

In the fourth quarter of 2019, Ripple’s sales took a bit of a hit... 

The sales of the token ended up reaching a historic low near the end of the year. 

Lows 

According to a blog post published earlier this week, the firm took a slight tumble in the fourth quarter of last year. The total sales of XRP accounted for around $13.08 million overall. This was a drop of more than 80 per cent compared to the third quarter of last year which was in at $66 million.

This big drop that Ripple experienced was quite unexpected by some for sure, but many still think that this would have ended up happening one way or another. The quarterly sales of XRP were consecutively dropping over the last year as Ripple ended up pausing problematic sales in the summer of last year. In June, it was announced that Ripple was expecting the XRP sales to drop so in many ways, this was a given for the community and hard-core XRP.

“In the short term, this means Ripple’s sales of XRP in Q2 2019 will be substantively lower (as a percentage of reported volume) than in the previous quarter—with our stated target of 20bps for programmatic sales of XRP volume, as reported by CoinMarketCap, likely dropping to less than 10bps. Longer term, by being more demanding about our expected standards for market structure and reporting, we hope to begin raising the bar industry-wide.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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