Ripple Lab's XRP token holdings have seen a massive drop in the total diffusive supply. This reduction is said to have hit a figure below 50%, and this happens to be the first time in the company's history of emergence that the token will be dropping. In the past few months, Ripple has been on the receiving end of severe and harsh criticism because of observations raised about the company's symbolic massive ownership of XRP.
They combat this by proposing that this method saddles the company with utmost centralized control over its XRP Ledger (XRPL).
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Ripple reports XRP holdings below 50% for the first time
The Q3 report published on 27th of October reveal a rebuttal of the criticism thrown its way by Ripple once again. It further showed that its XRP holdings has surprisingly not stop reducing-- falling below 50% of the total supply or 50 billion tokens. "Critics highlighted the company's XRP ownership as a huge red flag and a signal that the XRP Leger is regulated by Ripple. This is false," Ripple mentioned, adding that:
The firm further by disclosing that it presently controls 4 out of 130+ validator notes on the XRPL. "
Ripple revealed in the same report that the valuation of its complete net sales of XRP for Q3 dropped down from $408.9 million in Q2 to $310.68 million in Q3. Let us know what your thoughts are about Ripple's decline in the comment section below.
