Ripple Reports XRP Holdings Under Fifty Percent For The First Time In History

Ripple Lab’s XRP token holdings have plummeted under fifty percent of the total circulating supply for the 1st time in the organization’s history.

In the past, Ripple has faced criticism by some that have raised concerns over the company’s remarkably large ownership of XRP, arguing that it gives the firm centralized control over its XRP Ledger.

In the 3rd quarter report published on 27th October, Ripple once again disproved that criticism while also pointing out that its XRP holdings continue to lessen, dropping under fifty billion tokens, or fifty percent of the total supply.

Ripple stated,

“Critics have pointed to the company’s XRP ownership as an indicator that the XRP Ledger is controlled by Ripple. This is not true.”

It further added,

“The XRP Ledger (XRPL) uses Federated Byzantine Consensus to validate transactions, add new features, and secure the network, which means that each validator node gets one vote regardless of how much XRP they own.”

At press time, XRP is down 1.3 percent over the last 24 hours to sit at $0.45 and is down over two percent over the past week. Unlike a host of other key crypto assets that hit new all-time highs last year, XRP’s peak was almost 5 years ago at 3.40 USD on 7th January, 2018.