Ripple (XRP) has released a report that details the volume of XRP tokens sold, a decision that appears to be a result of reports released earlier this year by BitWise, the Blockchain Transparency Institute, and others, suggest that wash trading is common in the market, with exchange volumes being greatly exaggerated.
Reddit users, of course, have a range of opinions on the decision, with some saying that “Ripple is signalling to financial institutions that discounts are over” and that it would “increase real volume.”
The Ripple team says that it is “taking steps” to address the issues, though it does not claim to have guaranteed solutions to what is a deep and widespread problem. The blog post describes the 3 steps that are initially being taken: working with trusted partners to get a better understanding of the problem, considering a new approach to reporting XRP volumes, “including reviewing new options and requirements for sourcing market data”, and taking a more conservative approach to XRP sales report in Q2 2019.
This means that the next Ripple sales report will show lower figures than before.
Some users have looked at this from a cynical perspective, saying that more accurate metrics used to measure trade volumes might give Ripple a comparatively worse outlook than before.