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Home » Number of XRP Large Holders Grows Amid Ripples Controlled Supply from Escrow System
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Number of XRP Large Holders Grows Amid Ripples Controlled Supply from Escrow System

By adminJun. 26, 2024Updated:Jul. 15, 2024No Comments2 Mins Read
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Sure heres a revised version of the news title while maintaining accuracy and clarity

Number of XRP Large Holders Grows Amid Ripples Controlled Supply from Escrow System
Sure heres a revised version of the news title while maintaining accuracy and clarity Number of XRP Large Holders Grows Amid Ripples Controlled Supply from Escrow System
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Rising Whale Holdings Pose Threat to Retail Access of XRP
Ripple’s controlled supply of XRP tokens has resulted in a situation where a significant portion of the circulating supply is held by a small number of high-volume addresses. The recent surge in whale accumulation has exacerbated concerns about accessibility to XRP for regular traders. Currently, the top 10 XRP addresses collectively control approximately 11.2 billion XRP, while the top 50 addresses manage a total of 26.9 billion XRP, representing almost half of the current supply.

The situation is further complicated by Ripple’s escrow system, which gradually releases a limited amount of XRP each month, artificially constraining its availability. Notably, about 40 billion XRP coins are locked in this escrow mechanism, effectively reducing the amount of XRP accessible to the general public. This controlled supply paradigm has led to an unusually low circulating supply, intensifying the pressure on the limited XRP available in exchanges due to high demand.

These developments have drawn attention to the scarcity of XRP, a cryptocurrency initially launched with 100 billion tokens in circulation, which despite its substantial theoretical availability, remains relatively rare. The concentration of XRP among whale wallets has been underscored by supply data, demonstrating a remarkable level of control by a small number of addresses.

Chad Steingraber, an avid XRP enthusiast, recently highlighted this phenomenon on social media, casting a spotlight on the imminent supply constraint that XRP is likely to face as the SEC case against Ripple nears its conclusion. His analysis suggests that the public supply of XRP is considerably less than commonly perceived, hinting at an impending scarcity that could significantly impact the cryptocurrency’s market dynamics.

The imbalance between the growing demand for XRP and the restricted release of available tokens has contributed to a mounting concern regarding its retail availability. As a result, retail trading is anticipated to play a decisive role in determining the future price of XRP. Despite the current negative trend in XRP’s pricing, recent data from CoinGecko indicates an increase in trading volume, signaling substantial market interest in XRP.

Furthermore, the XRP Ledger’s automated market maker (AMM) pools currently lock approximately 10 million XRP, reflecting ongoing engagement with the cryptocurrency. These factors, coupled with the escalating concerns around scarcity, underscore the complex dynamics shaping XRP’s market landscape.

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