{"id":412051,"date":"2020-01-23T13:00:33","date_gmt":"2020-01-23T13:00:33","guid":{"rendered":"https:\/\/wncen.com\/?p=412051"},"modified":"2020-01-23T13:00:33","modified_gmt":"2020-01-23T13:00:33","slug":"ripple-succumbs-to-community-pressure-to-halt-xrp-dumping","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/ripple-succumbs-to-community-pressure-to-halt-xrp-dumping\/","title":{"rendered":"Ripple Succumbs To Community Pressure To Halt XRP Dumping"},"content":{"rendered":"

Ripple bows to pressure from the XRP community and pauses “programmatic sales.” Following the much-publicized practice of XRP dumping<\/a>, Ripple finally halts its monthly sales of escrow released tokens.<\/p>\n

Ripple Sales Have Sunk<\/h2>\n
San Francisco based fintech firm, Ripple, has released its Q4 2019 report<\/a>. And total sales have sunk to $13.08 million, down 80% from the previous quarter.<\/p>\n
The company attributes this to a shift towards more cautionary accounting methods. Which, they say, is a move designed to address concerns over fake XRP volume on exchanges that allow wash trading.<\/p>\n
“Ripple shifted to a more conservative volume benchmark for XRP sales, away from CoinMarketCap and to CryptoCompare Top Tier (CCTT) and significantly reduced XRP sales.”<\/p><\/blockquote>\n
$\"Ripple's$
Latest quarterly sales and volume report. (Source: Ripple.com)<\/figcaption><\/figure>\n
Indeed, in a report filed with the SEC last year, Bitwise Asset Management<\/a> claimed that as much as 95% of the reported volume on exchanges is fake.<\/p>\n
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1\/ New Research from us @BitwiseInvest<\/a>.<\/p>\n
As part of 226 slides presented to the SEC on our ETF filing, we did a first-of-its-kind analysis of order book data from all 81 exchanges reporting >$1M in BTC volume on CMC.<\/p>\n
TLDR: 95% of reported volume is fake but LOTS of good news! pic.twitter.com\/TuXLlDCRyP<\/a><\/p>\n
— Bitwise (@BitwiseInvest) March 22, 2019<\/a><\/p><\/blockquote>\n