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Ripple Unveils Its Total XRP Holdings: Report

Wed, 08/02/2023 - 08:16
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Godfrey Benjamin
Ripple Labs has published its second quarter (Q2) report with detail on its XRP holdings
Ripple Unveils Its Total XRP Holdings: Report
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American blockchain payments firm Ripple Labs Inc has released its Q2 performance report showcasing the total number of XRP coins it has in its coffers. As the company revealed, its ownership of XRP falls within two broad categories, including the XRP in escrow and those it currently holds as a firm.

As of the end of the second quarter in June, the Brad Garlinghouse-led company said the total XRP subject to on-ledger escrow is pegged at 41,900,000,005 while the total XRP it holds as a company at that time was pegged at 5,551,119,094. This figure compares to the escrow-bound XRP as of the end of the first quarter in March, which comes in at 42,800,000,013.

1 Billion XRP Released From Escrow as New Nuances of Ripple Court Ruling Emerge

The difference is accounted for by the more than one billion XRP tokens it released from escrow in that quarter. However, the company grew its total XRP holdings as the Q2 figures are a slight step up from the 5,506,585,918 it said it holds at the end of the first quarter.

The XRP coins in escrow are on a fixed schedule to be released over the next 42 months as it seeks to boost operations on the XRPL and other areas of its operations.

Ripple debunks misconception in XRP ruling

In addition to the transparency with respect to its XRP holdings, Ripple also debunked some of the misconceptions in the community with respect to the recent XRP ruling by Judge Analisa Torres.

Ripple v. SEC: Ex-CFTC Lawyer Reveals True Meaning of XRP Ruling

According to Ripple, the ruling shows that XRP in itself is not a security, a stance it noted it has maintained since the start of the lawsuit to date. The firm noted that the ruling has notably set a precedent for the crypto industry.

Another important clarification it made is that the XRP ruling protects every class of investor associated with Ripple Labs, including both retail and institutional investors.

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About the author

Godfrey Benjamin is an experienced crypto journalist whose main goal is to educate everyone around him about the prospects of Web 3.0. His love for crypto was birthed when, as a former banker, he discovered the obvious advantages of decentralized money over traditional payments. With his vast experience covering various aspects of Web3, Godfrey's articles has been featured on, Cryptonews and Coingape, among others.