According to the report, Ripple’s XRP holdings dropped below 50 billion or 50% of its ideal supply for the first time since its development. Over the years, critics have mounted pressure on the company’s XRP holdings to indicate that Ripple controls the XRP Ledger (XRPL). Ripple has denied the claims and highlighted that it uses Federated Byzantine Consensus to add new features and validate transactions. 

Ripple’s XRP sales in the third quarter were down to $318.68 million as against the second quarter of $408.90 million. Ripple has maintained its stance of only selling XRP in connection with ODL transactions and not through programmatic sales, which it stopped in the Q4 of 2019. Ripple has expressed confidence in increasing ODL volumes as the service expands to new territories.