Ripple Labs released its third quarter report, and the results showed that the total supply of XRP has dropped below 50%. This is the first time in Ripple's Chinese history. In particular, Ripple now operates 4 of 130 verifier connection points on XRP Ledger (XRPL).
RippleCEOBrad Garlinghouse posted this information on Twitter:
In the past, some critics suspected that the total amount of XRP loans held by Ripple was unusually large, and claimed that doing so would allow enterprises to manipulate XRPL. Ripple rebutted some of the charges, calling them untrue; Add further:
XRP Ledger (XRPL) applies Byzantine consensus of the federal government to verify sales, add features and protect network security, which means that no matter how many XRPs each verifier's connection point has, it can get a vote.
As mentioned above, Ripple is often regulated to limit the supply of its assets. Some critics have indicated that XRP cannot be regarded as a digital currency because of its high concentration.
The quarterly summary report emphasizes:
Once again, Ripple only sells XRP in the ODL transaction process, and with the global expansion of Ripple's ODL (liquidity based on demand) business process, ODL trading volume is also growing.
In relevant news, Ripple announced that it has cooperated with Travelex to introduce ODL in Brazil, which is the first trade between Brazil and Spain. In addition, some current customers of Ripple, FOMO Pay and iRemit, announced that ODL was applied in daily business processes.
Although the SEC v. Ripple case is close to the final judgment, it is believed that if the two people reach an agreement, the price of XRP will rise rapidly, which is higher than the record breaking US $3.40 at this stage. XRP investors and traders are optimistic that their previous investment in the currency project is not easy to be futile.