On June 3, Ripple (XRP) released a report on its Ripple Insights blog, where the company spoke about the inflated XRP volumes that have been stated on exchanges worldwide (as is the case with other tokens) and promising to take whatever possible steps to curb associated worries about market structure. The steps the team is taking, detailed below, is expected to cause XRP Q2 sales to drop.
In the report, Ripple states 3 actions that it has undertaken:
1. We are actively working with trusted partners in the space to better understand the scope and scale of the problem.
2. We are evaluating our approach to XRP volume reporting, including reviewing new options and requirements for sourcing market data.
3. We are taking a more conservative approach to XRP sales this quarter.
By intending to establish better volume metrics, Ripple is hoping that it will not negatively impact the market by selling too much through programmatic sales of XRP, dropping it down from 20 bps to 10 bps. The report…