Ripple’s XRP Holdings Dropped Below 50% Of The Total Circulating Supply For The First Time

For the first time in the company’s history, Ripple Lab’s XRP token holdings have fallen below 50% of the total circulating supply.

Ripple has previously experienced criticism from individuals who questioned the corporation’s considerable ownership of XRP, claiming that it provides the business consolidated control over its XRP Ledger (XRPL).

Ripple countered that accusation in a Q3 report issued on October 27 while also pointing out that its XRP holdings continue to shrink, going below 50 billion tokens, or 50% of the total supply. The company said:

“Critics have pointed to the company’s XRP ownership as an indicator that the XRP Ledger is controlled by Ripple. This is not true.

The XRP Ledger uses Federated Byzantine Consensus to validate transactions, add new features, and secure the network, which means that each validator node gets one vote regardless of how much XRP they own.”

The company went on to say that it presently manages four of the XRPL’s 130+ validator nodes.

Ripple reported that its overall net sales of XRP for the third quarter were $310.68 million, down from $408.9 million in the previous quarter.

Ripple’s cross-border payments service ODL is one of the company’s core commercial services. The company stated that it expanded the product in Q3 through cooperation with currency firm Travelex to allow transactions between Brazil and Mexico.

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