Bleeding Quarter: Ripple’s Q4 Sales Declined by 80%

The company paused programmatic sales, contributing to the slumped figure.

Ripple XRP’s figures took a massive hit in the last quarter as total sales plummeted to $13.08 million from $66.24 million in the previous quarter – a decline of 80.2 percent.

Revealed at the quarterly market report, all the market figures showing a major decline. Notably, the San Francisco-headquarters company has reduced XRP sales and paused programmatic sales since the third quarter of last year. The numbers clearly show this effect as programmatic sales went down from $16.12 million in Q3 2019 to zero in the following quarter.

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The company also moved to a more conservative approach to evaluating its sales numbers.

“In Q4, CCTT changed the methodology it uses to determine which exchanges it lists in the TopTier, which is reflected in the numbers above. Ripple continues to evaluate its benchmarks given challenges, such as fake volume, that continue to persist in the industry,” the report stated.

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The average daily volume of XRP in the market also declined from $198.1 million in Q3 to $187.34 million in Q4. Compared to the last two quarters, the average daily volume was reported $429.51 million in Q2.

With over $10 million in market capitalization, XRP is the third-largest digital currency in the market. The coin is trading at $0.22 apiece after trading flat for the last 24 hours.

Maintaining escrow practices

The market report also outlined that the blockchain startup released 3 billion XRP tokens from its escrow last quarter. However, the company also returned 1 billion tokens back to the escrow from circulation.

Meanwhile, the company is adding more and more partners to use its blockchain-based solutions. In November only, Ripple added “two dozen” companies, including MoneyGram, goLance, and Viamericas, as customers of its on-demand liquidity.

“In 2019, dollar value transacted through ODL increased more than a hundred times between Q1 and Q4, and specifically from Q3 to Q4, by 650%,” Ripple added. “The number of ODL transactions also increased by 390% from Q3 to Q4, showcasing high customer demand for leveraging digital assets, specifically XRP, in cross-border transactions.”

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