Ripple (XRP) Q3 Report Shows the Company Still Holds 4.43B Tokens, Despite SEC Battle-web3.0-php.cn

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Ripple (XRP) Q3 Report Shows the Company Still Holds 4.43B Tokens, Despite SEC Battle

Mary-Kate Olsen

Nov 02, 2024 am 06:32 AM

xrp Tokens Ripple

San Francisco-based enterprise blockchain company Ripple holds 4.43 billion tokens, according to its recently published Q3 report.

Ripple (XRP) Q3 Report Shows the Company Still Holds 4.43B Tokens, Despite SEC Battle

Enterprise blockchain firm Ripple had 4.43 billion tokens in its hot wallet at the end of Q3, the company revealed in its recently published quarterly report.

The stash of XRP held by Ripple decreased by approximately 5.24% over the second quarter.

The total number of XRP tokens locked in the company's escrow reserve dropped by roughly 1.5% over the same period of time (from 39.5 billion to 38.9 billion). Ripple originally locked a total of 55 billion XRP tokens (more than half of XRP's maximum supply) in escrow wallets back in 2017.

The Ripple-affiliated token experienced "elevated" trading volumes in the third quarter, the report showed.

Of particular note, the XRP/BTC ratio logged a substantial 27% increase in the third quarter despite the fact that the Bitcoin dominance metric was on the rise.

The report identified Ripple's ongoing legal battle with the SEC as the key factor affecting the price of the XRP token.

The seventh-largest cryptocurrency by market capitalization is changing hands at $0.51 at press time, according to CoinGecko data.

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