Ripple reports XRP holdings below 50% for the first time

The company pointed out that its relatively large ownership of XRP is shrinking and that it only operates "4 validation nodes out of over 130 on the XRPL".

Ripple Lab's XRP (XRP) token holdings have fallen below 50% of the total circulating supply for the first time in the company's history.

Ripple has come under criticism in the past by some who have raised questions about the company's significantly large ownership of XRP, arguing that it gives the company centralized control over its XRP Ledger (XRPL ).

In a third quarter report published on October 27, Ripple once again refuted this criticism while pointing out that its XRP holdings continue to decline, falling below 50 billion tokens, or 50% of the total offer.

“Reviews have pointed to the company's XRP ownership as an indicator that the XRP Ledger is controlled by Ripple. This is not true,” Ripple said, adding that:

“The XRP Ledger (XRPL) uses the Federated Byzantine Consensus to validate transactions, add new features and secure the network, which means that each validating node gets one vote, regardless of how much XRP he owns."

The company went on to state that it is "currently operating 4 of over 130 validation nodes on the XRPL".

Below 50% - a milestone! For 10 years, Ripple has focused on using XRP and XRPL in our products for its speed, security and scalability for the movement of value. As more customers use XRP in their payment flows, it's clear there's real utility here. https://t.co/jKZwye17uZ

Ripple revealed in the report that its total net sales (sales minus purchases) of XRP for the third quarter fell to $310.68 million from $408.9 million in the second quarter.

"Ripple continued...