Ripple Releases XRP Sales Figures for Q1: 840 Million Sold
CryptoNewsTerminal Staff18 May, 2024
Ripple Releases XRP Sales Figures for Q1: 840 Million Sold
Ripple has released its XRP sales figures for the first quarter of 2023, revealing that it sold over 841 million XRP. This represents a decrease from the 1 billion XRP sold in the fourth quarter of 2022. According to data from CryptoCompare, Ripple sold 841,491,161 XRP in Q1. The total value of the XRP sold in Q1 is approximately $400 million at the current price. Ripple also reported that it is holding 44.9 billion XRP in escrow, down from 48 billion XRP at the end of 2022. The sale of XRP by Ripple has been a contentious issue in the cryptocurrency community. Some argue that Ripple's sales are putting downward pressure on the price of XRP, while others believe that the sales are necessary to fund Ripple's operations. Despite the ongoing debate, Ripple has continued to sell XRP. The company has said that it plans to use the proceeds from these sales to fund its operations and invest in new projects.
