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American blockchain payments firm Ripple Labs Inc has released its Q2 performance report showcasing the total number of XRP coins it has in its coffers. As the company revealed, its ownership of XRP falls within two broad categories, including the XRP in escrow and those it currently holds as a firm.
As of the end of the second quarter in June, the Brad Garlinghouse-led company said the total XRP subject to on-ledger escrow is pegged at 41,900,000,005 while the total XRP it holds as a company at that time was pegged at 5,551,119,094. This figure compares to the escrow-bound XRP as of the end of the first quarter in March, which comes in at 42,800,000,013.
Yuri MolchanThe difference is accounted for by the more than one billion XRP tokens it released from escrow in that quarter. However, the company grew its total XRP holdings as the Q2 figures are a slight step up from the 5,506,585,918 it said it holds at the end of the first quarter.
The XRP coins in escrow are on a fixed schedule to be released over the next 42 months as it seeks to boost operations on the XRPL and other areas of its operations.
Ripple debunks misconception in XRP ruling
In addition to the transparency with respect to its XRP holdings, Ripple also debunked some of the misconceptions in the community with respect to the recent XRP ruling by Judge Analisa Torres.
Gamza KhanzadaevAccording to Ripple, the ruling shows that XRP in itself is not a security, a stance it noted it has maintained since the start of the lawsuit to date. The firm noted that the ruling has notably set a precedent for the crypto industry.
Another important clarification it made is that the XRP ruling protects every class of investor associated with Ripple Labs, including both retail and institutional investors.
Alex Dovbnya
Vladislav Sopov
Dan Burgin