Ripple plans to reduced sales of XRP in Q2
Home News Ripple plans to reduced sales of XRP in Q2
Marcus Misiak –
Ripple, the company’s Token behind the XRP, has stated that in the short term it is expected that the turnover of XRP-Token will be in the second quarter of 2019, significantly lower than in the previous quarter. The reason for this is commendable: Ripple plans to review its Standards for reporting on crypto volumes and market data.
It appears, taking into account the current market conditions, curious that Ripple would report lower Q2, since the Situation for the market, it has developed towards the end of this quarter, has only improved. The justification of the Ripple is, however, worthy of praise. It is the concern about false volume notifications on exchanges is growing.
The step is carried out after an intensive review and criticism of the way that crypto-exchanges volume of trade, report data. A recent report by the crypto-Index – and funds-party Bitwise showed that about 95% of the on CoinMarketCap reported in the volume are fake. In response, Ripple, announced that it will review its approach to the reporting of volume data in its Q2 XRP Markets Report, which is expected to be published at the beginning of July, and change. It also will address the company with the sale of XRP on the open market.
Ripple will address this, by taking measures to increase the reliability of the market structure and the reporting to the global Digital Asset exchanges. The fact that there are fake volumes, is both disturbing as well as harmful to the crypto-currency Ecosystem. It leads to untruths for the investors in the use of different stock exchanges, and it also increases unfounded, the value of certain Coins like Ripple has found.
The company has therefore presented in three ways, as it is working on the analysis and Revision of its future reporting standards:
- “Active collaboration with trusted partners,” in order to understand the scope and extent of the problem better.
- Evaluation of the approach for the XRP-volume reporting, including Review of new options and requirements for the procurement of market data.
- A more conservative approach for the XRP sales this quarter, keep track of, to learn more about fake volume in the crypto area.
Ripple has admitted that it has tried, the falsehoods, the volume of coverage that you expect them to be made in their own forecast for the second quarter of up to 50 percent. The programmatic sales of XRP consists Essentially of the sale of XRP on crypto-exchanges. The Startup sold in the first quarter of this year 107,49 millions of dollars in program-controlled sales of XRP.
Although we do not claim to have an exact solution, we at Ripple steps to address these concerns and the related questions as to the General reliability of the market structure and of the reporting system to address the global Digital Asset exchanges. […] We actively collaborate with trusted partners on the ground, to understand the scope and the extent of the problem better. We evaluate our approach to the XRP-volume reporting, including Review of new options and requirements for the procurement of market data.
The entire industry needs to assess its approach for reporting on the crypto-trade volume new, says Ripple, in order to ensure that the emerging space wins the trust of regulators, investors and the Mainstream.
We hope that others will follow in the crypto-Ecosystem in our example, and in the end that our common efforts will create a growing level of trust in institutions and consumers, and the entire Digital Asset market will flourish. As long as we don’t do this, can’t we expect the widespread introduction of digital Assets or Blockchain technology.
Featured Image: stanslavs | Shutterstock