In contrast, XRP underperformed with losses of 7 percent while Ripple and its CTO David Schwartz have continued to sell-off their holdings.
This change in value is reflected in the dominance of XRP relative to BTC. During that period, XRP climbed from 5.8 to 11.5 percent market dominance, even surpassing Ethereum as the number two cryptocurrency by market cap in 2018.
XRP is now underperforming compared to its peers, especially BTC.Expanding Circulating Supply Puts Pressure on Price.
One area of concern for XRP holders is the downward price pressure resulting from Ripple and its associates regularly selling XRP. Ripple owns roughly 58 billion of the 100 billion XRP in existence.
In Ripple's Q1, 2019 report, the company posted $62 million in institutional sales and $107 million in exchange sales for a total sales of $169 million, 563 million XRP at current prices.
Ripple increased its sales of XRP by 31.3 percent from Q4, 2018.
Schwartz started regularly selling his XRP holdings in April of 2017 and has continued at an increasing pace to the present day.
His wallet currently holds 3.16 million XRP worth $923,000 at current prices.
Since the beginning of 2019, Schwartz sold 2.8 million XRP worth roughly $810,000.
Some within the Ripple community also voiced concerns that the sales represented a lack of confidence in XRP's potential to appreciate in price.
As XRP underperforms Ripple and CTO David Schwartz sell-off holdings
gepubliceerd op Apr 26, 2019
by Cryptoslate | gepubliceerd op Coinage
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