XRP News: Ripple’s XRP Holdings Decline by 5.24% While XRP/BTC Trading Volume Surge

The post XRP News: Ripple’s XRP Holdings Decline by 5.24% While XRP/BTC Trading Volume Surge appeared first on Coinpedia Fintech News

Ripple is currently engaged in a tough legal battle against the United States Securities and Exchange Commission. Certain important network developments, revealed by its Q3 Report, have triggered discussions within the cryptocurrency community. Let’s dive into the details! Ready?

Ripple’s XRP Holdings and Escrow Reserve 

The report mainly brings attention to two important points: Ripple’s XRP holdings and its escrow reserve. It reveals that the XRP holdings of Ripple decreased by at least 5.24% in Q3. Right now, Ripple’s XRP holdings stand at 4.43 billion XRP.

It also highlights that Ripple’s escrow reserve decreased by around 1.5%. The report points out that the escrow reserve shrank from 39.5 billion XRP to 38.9 billion XRP. Notably, in 2017, the reserve held nearly 55 billion XRP. 

Increased Trading Volume and XRP/BTC Ratio Growth 

The report indicates that during the third quarter, XRP experienced increased trading volumes. Increased volume is a strong indicator of market activity and interest. 

On July 1, the price of XRP was at 0.00000737 BTC. By mid-July, it touched a peak of 0.00000976 BTC. In early August, it further grew to 0.00001088 BTC. On the last day of September, it slipped to 0.00000966 BTC. In Q3, the XRP/BTC market achieved 31.07% growth. 

The report points out that the XRP/BTC ratio increased in Q3. It also notes that the dominance of Bitcoin also witnessed a rise during the period. 

XRP’s Current Market Status 

In the last 30-days, XRP price has seen a decline of 3.9%. On October 1, it was $0.6114. It plummeted to a low of $0.5219 on October 3. From October 4 to October 24, the XRP market fluctuated within the range of $0.5482 and $0.5216.

On October 25, the market slipped below the range, touching a low of $0.5021. The market has not yet recovered from the fall suffered on October 25. With the price of $0.5129, the market is currently struggling to break above the crucial range of $0.5319. In the last 24 hours, the market has witnessed a drop of 0.3%.  

In conclusion, Ripple’s Q3 report shows a shift in XRP holdings and rising trading interest. 

Stay tuned to Coinpedia for more updates on the Ripple market!