It's not all hunky-dory for Ripple as the company had reported the sales in Q1 2020 suffered an 87% drop compared to the previous quarter. The numbers fell substantially and from selling $13.08 million worth XRP in the last quarter of 2019, Ripple was reduced to selling just $1.75 in the first quarter of 2020.

The <a href="https://ripple.com/xrp/q1-2020-xrp-markets-report/" target="_blank" rel="noopener">announcement </a>was made by the company on Thursday. Ripple decided to do away with the sales of XRP on cryptocurrency exchanges, which is being cited as the biggest reason behind such a sharp decline in XRP sales as it led to a drop in institutional sales.

The company stated that it has shifted its focus primarily towards selling XRP strategically in regions of Asia, Europe and the Middle East through over the counter channels. Until Q2 2019, programmatic sales accounted for the majority of Ripple's sales volumes. But the firm decided to part away with these sales because of reports of inflated volumes.
<h2>Lack of Programmatic Sales Behind Ripple's XRP Falling Sales Numbers</h2>
Ever since Ripple's XRP broke away from the programmatic sales, the sale numbers have continued to dwindle. The company first announced this decision in Q3 of 2019, and in the following quarter, sale declined by 80%.

Up until q2, programmatic sales made up a chunk of the volume figures. However,  after continuous reports that the volume numbers were inflated, Ripple decided to bin them. The firm said that issues of fake volumes persist in the industry and the company don't want to be involved in it.

Ripple’s Q1 2020 sales are the lowest ever since it started announcing these numbers in Q4 of 2016, according to reports.

<img class="aligncenter wp-image-168537 size-full" src="https://www.cryptoknowmics.com/crypto/wp-content/uploads/2020/05/XRP-Price-and-Volume.png" alt="" width="862" />.

Ever since the firm has decided to publish these figures, the sale in q1 2020 is the lowest ever recorded.  The price fell steeply too and went from being $0.1928 in q4 2020 and fell to $0.1763 in q1 2020.

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Ripple's XRP Registers Its Lowest Sales in Q1 2020

There was a drop of 87% in Ripple's XRP sale figures in the first quarter of 2020, from the last one in 2019, price dropped too.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Ripple's XRP Registers Its Lowest Sales in Q1 2020

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