Ripple is taking steps to improve the accuracy of XRP's volume and sales data, per a company blog post this week. In the post, Ripple cited multiple recent reports that have highlighted significantly overstated cryptocurrency volume and sales figures. These reports, issued by Bitwise, the Blockchain Transparency Institute and others, suggest inaccuracy and exaggeration of up to 95% of volume, per the Bitwise report.
Ripple says "as an industry, we can and must do better," although the firm isn't "claiming to have an exact solution." Instead, Ripple is taking direct steps to address concerns and questions about cryptocurrency market structure and reporting at digital asset exchanges. Per Ripple, the steps are as follows: