On-chain data reveals that over half a million #Xrp๐ฅ๐ฅ wallets are sitting on idle balances โ holding a combined 10.77 million XRP worth more than $33M.
๐จโ๐ป Dr. Artur Kirjakulov, co-founder & CEO of XPMarket, first highlighted this fascinating trend.
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๐ Key Insights
โจ 538,586 wallets still hold 20 XRP each (~$62 at todayโs ~$3.1 price).
โจ These make up 7.64% of total XRPL wallets (7,048,872+ in total).
โจ Originally, 20 XRP was the minimum reserve set back in 2013 to prevent spam accounts.
โจ Community votes later reduced the reserve:
10 XRP (Sept 2021, when XRP was ~$1.2)
1 XRP (Dec 2024, after XRP broke $2 ๐)
But many old accounts were left untouchedโฆ meaning those 20 XRP remain dormant for years.
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๐ Bigger Picture
10 XRP wallets = Most common (592,818 wallets).
20 XRP wallets = Second most common (538,586 wallets).
Together, 1.13M wallets hold 16.7M XRP (~$51.7M)!
๐ This fuels the idea that XRPโs real circulating supply is tighter than many think โ a potential supply shock brewing? ๐
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๐ Fun Fact: California Law AB 1052
Some worried this law could impact idle wallets. But relax ๐:
โ๏ธ It only applies to centralized exchanges (like Coinbase).
โ๏ธ On-chain XRPL wallets = Safe.
โ๏ธ Even seized funds are not liquidated and can be reclaimed.
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๐ What This Means for XRP Holders
The numbers prove it: millions of XRP are effectively locked away in inactive wallets. Thatโs bullish long-term ๐ฅ.
๐ก If demand rises while supply is tighter than expected โ price shock incoming?
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