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Ripple revenue from XRP sales fell 73% in the third quarter



In the third quarter of this year, Ripple received revenue of $ 66.2 million – that is 73% less than in the previous quarter when it was possible to raise $ 251.5 million.

Today, the Ripple team presented a quarterly report stating that it wants to voluntarily maintain an appropriate level of transparency regarding its activities. The blockchain project called on other participants in the crypto industry to follow its example, as this will help build confidence and ensure open interaction.

The company notes that the fall is due to a change in the project action plan, which were identified in the second quarter. For example, the company decided to suspend the so-called "programmed sales" of altoin through a network of partners, instead focusing on over-the-counter XRP sales to certain strategic investors. This step led to $ 50.12 million for direct sales, and $ 16.12 million for “programmed” ones.

In addition, the report notes that Ripple is an ideal solution for global payments, the Alctoin network is able to provide users with efficiency, scalability, acceptable commissions. The XRP report compares with BTC. So, in a second, more than 1,500 transactions are processed on the Ripple network, and BTC only 7. The XRP commission is $ 0,0003, and BTC – $ 0.758.

Note that in the third quarter, the value of Ripple collapsed by 35.4%, over the same period, altcoin trading volumes fell by 53% – from $ 39.1 billion to $ 18.2 billion.