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Answer: Example of sale of XRP by Ripple?


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I understand how Ripple sells XRP from their accounts. In this case I am referring to the sales that contribute to the numbers that are published in their quarterly reports. I understand that they sell to banks and institutions as well as programmatically to exchanges and through OTC trades. I also understand that you can at least see the XRP side of the sale on the Ripple ledger. But I have a few remaining questions to clear things up. 

1) I want to make sure that there is no way to see the other side of the transaction. Meaning, the currency that the buyer of the distributed XRP pays Ripple Labs/Ripple for the XRP. Does Ripple accept payment for newly distributed XRP in cryptocurrencies?

Edited by rippleHero
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You would have to look at Ripple's accounting books to know. That information is not on the XRPL. I've never hear of Ripple taking cryptocurrencies. The main reason Ripple sells at all, is to pay empl

@rippleHero Do you have anything to declare? For example, are you with Forbes?

11 minutes ago, rippleHero said:

2) What is an OTC trade of XRP? I have been told this is done through a third party hired by Ripple.

Not by me you weren’t....   :)    If that was what you got from what I said then I mustn’t have been clear...  sorry about that.

OTC means OverTheCounter.  Basically a private sale by Ripple to someone.  That someone might be an individual or corporate entity.   It’s not done by a third party...  the third party thing is the “at market” sales done on public exchanges at current market price.

I know you wanted Bob and he will be much better, but I thought I should clarify that misunderstanding as soon as possible.

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11 hours ago, EcneitapLatnem said:

For example, are you with Forbes?

No I am not. I am just trying to understand how this works. There have been many posts about the distribution of XRP and people who have done an analysis of these sales. This is exactly why XRP Chat was created. 

Edited by rippleHero
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23 hours ago, rippleHero said:

1) I want to make sure that there is no way to see the other side of the transaction. Meaning, the currency that the buyer of the distributed XRP pays Ripple Labs/Ripple for the XRP. Does Ripple accept payment for newly distributed XRP in cryptocurrencies?

You would have to look at Ripple's accounting books to know. That information is not on the XRPL. I've never hear of Ripple taking cryptocurrencies. The main reason Ripple sells at all, is to pay employees. They get paid in fiat. I've never heard of Ripple buying or holding other crypto.

People get suspicious about the OTC transactions not going through exchanges. But to me, it makes perfect sense if you think about it. Ripple would be selling the XRP on the exchange and the OTC party buying it at the same time. Ripple would just but in a big sell order at the market price. The buyer would put in an equal bit buy order at the same price. It wouldn't move the market at all. All it would result in, is unnecessary fees paid to the exchange.

Everyone would like those buyers to buy on existing thin markets when Ripple is not selling at all. There is ZERO chance these types of buyers would spike the market. They are sophisticated and know what an awful price they would get. They also have now NEED to buy immediately. It is that NEED that spikes the price.

23 hours ago, rippleHero said:

2) What is an OTC trade of XRP? I have been told this is done through a third party hired by Ripple.

That magic is all handled by teams I haven't worked with day to day.

23 hours ago, rippleHero said:

3) Looking at the following address: https://bithomp.com/explorer/rHjJwY4maqRyUxCnJ9bNNQ2Tva9fe9T8ud 

I can't say that I know anything at all about that. It could be moving funds to exchanges for program trading. But I really have no more information than you do. Just guess based on the same known facts that you listed.

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