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Ripple CTO Confirms Ripple Sells XRP to Reduce its Holdings

Ripple generates most of its revenue from selling its XRP holdings, according to David Schwartz, CTO at Ripple. Schwartz confirmed in a series of tweets that selling XRP accounted for 98% of the firm's revenue and that Ripple only has two options regarding its XRP holdings: to sell or hold them. Selling the tokens is seen as a better choice, as it contributes to decentralization. Ripple sells XRP tokens in connection with its On-Demand Liquidity solution, which caters to multiple entities across nearly 40 payout markets. Ripple's report on XRP for Q4 2022 revealed that the technology firm sold $226.31 million worth of XRP in the quarter alone.

(By ALBERT BROWN)

XRP XRP $0.51
-2.12%
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