Ripple News

Report: Ripple has a discrepancy of 200 million XRP in the amount sold

 Ripple has a discrepancy of 200 million XRP. In a report detailing an analysis of XRP’s ledger, Ripple Labs misreported the amount of XRP it returned to escrow by 200 million XRP worth circa $84 million.

In October 2018 ripple said:

“Three billion XRP released out of cryptographic escrow, 2.6 billion XRP returned to escrow.”

According to the ledger data report, 2.5 billion XRP was returned to escrow, 100 million XRP less. At the beginning of 2018, ripple said: “Three billion XRP was released out of cryptographic escrow, 2.30 billion returned to escrow.”

Actually, according to a ledger analysis start-up Coin Metrics, 2.2 billion XRP was returned. Coin Metrics reached out to Ripple for clarification, but they haven’t received any response yet. While this might be a clerical error, it’s too much of a coincidence. In last year’s Q3, they misreported the amount released from escrow by 20% i.e 500 million of XRP had been released instead of 400 million. In Q1 this this year, 10% was not reported.

According to the report, Ripple has released 17 billion XRP in total from escrow and has returned 12.5 billion XRP. Since December 2017, Ripple had sold 4.5 billion XRP which at current prices would be sold for $2 billion.

Ripple escrowing 55 billion XRP means Ripple is still in possession of 50 million XRP. The circulating supply is 42 billion XRP

Even though Ripple has a discrepancy of 200 million XRP, it’s still among the most efficient and flexible cryptocurrency platforms. Ripple (XRP) is placed at 3rd position of top coins according to coinmarketcap.

The price of XRP currently ranges between $ 0.47 and $ 0.28. If the same pattern continues, the coin will be able to recover the amount misrepresented.

Do you believe it was a clerical error?

You may also be interested in:

Ripple’s XRP trading now available in New York

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coinmag

Philip is an experienced blogger keen on staying updated with trends and news surrounding the blockchain and Bitcoin space. With several years of freelance experience in various industries, Philip brings his knowledge and experience into the crypto space.

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