Ripple sales of XRP saw a massive decline in the third quarter of this year. According to the report published by Ripple, the sale of XRP declined by 74% from the previous quarter. The company blamed an increase in FUD surrounding XRP was one of the main reasons for the decreased sale in this quarter.
The price of XRP also declined by 35.4% in Q3. According to the report, the overall market capitalization of the cryptocurrency decreased by 30.4% during the same period. The volume of XRP also decreased by 53% from $39.1 billion to $18.2 billion.
Ripple has been repeatedly accused of dumping XRP into the market for its own benefits, which in result, keeps XRP from gaining any upward momentum. But in the report, Ripple denied such claims. XRP is not like other cryptocurrencies as it is pre-mined, and Ripple has control over the majority of it. However, the company has repeatedly claimed that the cryptocurrency is totally decentralized.