- The whale accumulation, which controls almost half the current supply of XRP, threatens to restrict retail availability.
- Ripple’s escrow release system releases limited amounts of XRP each month, creating artificial scarcity.
XRP definitely has more whale addresses in it than people think. The supply data reveals a curious concentration within these whale wallets.
Social media has recently drawn attention to this phenomenon by XRP enthusiast Chad Steingraber. The SEC’s case against Ripple As the distribution of XRP’s supply is coming to a close, it appears that XRP may soon experience a constraint in supply.
You can also find out more about the following: #XRP Public supply is much lower than most people think. On the open market, you will never find 100Billion.
The amount will be reduced to a tiny, scarce quantity.
The retail trade determines price. 👍 https://t.co/BBWpJeSljl pic.twitter.com/m8BBirjJd3
— Chad Steingraber (@ChadSteingraber) June 22, 2024
The scarcity of XRP whales has increased.
When XRP launched, 100 billion XRP coins were in circulation. But XRP Despite the large number of tokens theoretically available, there are very few. Steingraber brought to light this fascinating difference, recently pointing out the fact that public supply is much less than what people believe.
Ripple is responsible in part for XRP’s scarcity. They control the majority of its supply via an escrow method that only releases a very small amount each month. This escrow system is said to hold about 40 billion coins of XRP that are not available for the public.
The controlled supply model has led to an abnormally low circulating supply. The limited amount of XRP available on exchanges faces tremendous pressure from buyers as the demand for this small supply far outstrips its release.
The Whale Population Threatens Retail Access
The whale accumulation of recent months, in addition to the approximately 39 billion XRP Tokens in escrow puts XRP at risk for normal traders.
There are 55.6 billion dollars. XRP Currently, there are approximately 11,2 billion XRP in circulation. More than half the supply of XRP is controlled by just 50 top addresses.
The top 103 Bitcoin address, for example, owns less than 16%. The disparity is even more apparent when comparing the total supply of the two cryptocurrencies. This supply-and demand imbalance creates the ideal environment for XRP to maintain control of its circulating supply.
CoinGecko’s data indicates that the current price of XRP stands at approximately $0.4739 As of the date this was published, 0.58% The previous day. It also shows that the stance is negative. 3.69% Drop within the past seven days
CNF previously announced that XRP traded volume was up by a significant amount. increased 170% of $1.035 Billion. The AMM pool of the XRP Ledger contains about 10,000,000 XRP.
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