Ripple, one of the largest companies in the cryptocurrency world, has released a new report on the third quarter of the year.
According to the company's data, the total value of the cryptocurrency market fell by 30% in the third quarter compared to the previous quarter. The XRP was also affected and lost 35% in value compared to the previous quarter.
The volume of XRP is also thought to have decreased during this process. According to data shared by Ripple, the volume of $ 429.5 million dropped to $ 198.10 million in the third quarter. However, it is still more than $ 151 million in the first quarter.
The company made a decision in recent months and announced that it will now sell a smaller amount of XRP.
When we look at the report published by Ripple, we can see that the company has kept this promise. The company, which sold $ 251 million in XRP in the second quarter, reduced the number by 73 percent to $ 66 million in the third quarter.
Ripple was heavily criticized for these XRP sales. So much so that some XRP followers even said that Ripple directly manipulated the XRP and stressed that the company had a negative impact on the XRP price.
According to information shared by Ripple, most of the followers who made these claims about the company were actually social media bots.
Referring to a study by Indiana University, Ripple explained that these bots increased the spread FUD about XRP by 179%.
In this report, it is possible to find more detailed information about XRP's performance in the third quarter, what the company has done in this quarter and the differences between this quarter and the previous quarters.