Ripple’s share of XRP among holders falls below 50% for the first time

For the first time in history, the volume of XRP tokens held by Ripple Labs has fallen below 50% of the total supply. The figures are from the company’s third-quarter performance report.

In the latest XRP Markets report, we discuss Ripple’s XRP holdings (now <50% of total supply), the state of global crypto regulation 🌎, macroeconomic moves and On-Demand Liquidity continued domination. 👇 https://t.co/sKSN5g9I5C

— Ripple (@Ripple) October 27, 2022

The fintech startup runs only four of more than 130 nodes in the XRP Ledger (XRPL).

The figures presented come in response to claims of a high degree of centralisation of the project.

«XRP Ledger (XRPL) uses federated Byzantine consensus to validate transactions, add new features and ensure network security. This means that each validator gets one vote regardless of how much XRP it holds», — the report says.

During July–September the fintech startup’s total XRP sales amounted to $310.7 million ($408.9 million in Q2).

«Ripple continues to sell XRP only in tandem with On-Demand Liquidity (ODL). The volumes of the cross-border payments service have increased as this line of business expands», — the document explains.

In Q3 the firm forged a partnership with forex dealer Travelex to facilitate payments between Brazil and Mexico.

Ripple Labs also commented on the longstanding dispute with the SEC. In October the firm received internal documents from the regulator regarding речи by the former director of the regulator’s corporate finance division William Hinman.

«The SEC continues to deliberately sow ambiguity rather than provide clear guidance. This approach is used to justify coercive actions to suppress innovation in the United States», — the report says.

In October, the Ripple team began testing EVM-compatible sidechain.

In March the firm promised to allocate 1 billion XRP to the XRP Ledger ecosystem development program. The firm highlighted priorities as sidechains, NFTs, infrastructure and network-security projects, and developer tools.

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