Coming as the latest development in cryptosphere, the company behind the third largest cryptocurrency by market cap, Ripple published XRP’s market report of third quarter this year. Well, the revealed numbers do not look that promising. As per the report, the total XRP sales in the 3rd quarter were $66.2 million. This has declined considerably as compared to $251.5 million in the preceding quarter. Ripple lays the blame on a momentous upsurge in FUD for the declined sale.
Ripple sales of XRP saw an enormous waning in the 3rd quarter of 2019. Particularly, the sale of XRP shrunk by around seventy four percent from the previous quarter, as per the report published by Ripple. Moreover, in the 3rd quarter, XRP’s price deteriorated by 35.4%.
XRP Coin News and Ripple Coin Price Decline
Notably, the price of XRP declined by over thirty five percent in Q3. The overall market cap of the third largest cryptocurrency diminished by over thirty percent during the same period, as per the report. Additionally, the volume of XRP also declined by around fifty three percent from $39.1 billion to $18.2 billion.
It is to be noted that Ripple has been recurrently held responsible for dumping XRP into the market for its own advantage. As a result, XRP stays away from gaining any uphill impetus. However, Ripple denied such claims, in the report. Interestingly, XRP coin is not like other virtual currency. This is because it is pre-mined and Ripple has control over the majority of it. Nevertheless, Ripple has recurrently claimed that the the digital asset is absolutely decentralized.
At the time of reporting, XRP is changing hands at $0.29 a pop, as per Coinmarketcap. The XRP cryptocurrency is showing a gain of 0.27% on a 24-hour scale. Also, XRP is having a market cap of $12.6 Billion, per Coinmarketcap, at the time of reporting.