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XRP Closes In on 5 Million Holders: Discover Key Insights

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Sun, 17/09/2023 - 16:15
XRP Closes In on 5 Million Holders: Discover Key Insights
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XRP Ledger is steadily approaching a significant milestone with nearly 5 million accounts, currently numbering 4.78 million. According to data from XRPL Services, these accounts collectively hold a substantial 58.682 billion XRP, which translates to 58.68% of the total token supply.

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What stands out prominently in this burgeoning XRP ecosystem is the fact that out of these millions of accounts, only a meager 1,115 of them boast a zero balance. This implies that the vast majority of XRP accounts are actively used, either holding XRP as account reserves or owner reserves.

This refers specifically to the number of XRP holders in the XRPL blockchain directly, without taking into account various kinds of wrapped variations and accounts on centralized exchanges. For example, the number of tokens offered on decentralized platforms is 17.2 trillion.

Ripple and XRP

The remainder of the digital asset, approximately 41.3 billion XRP, remains securely held in Ripple's escrow accounts. Importantly, these holdings are being managed in accordance with established regulations, aimed at reducing their size.

As it stands, there are currently 10,141 such escrow accounts in operation. This prudent management of XRP holdings plays a crucial role in maintaining market stability and instilling confidence among XRP investors.

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The steady increase in the number of XRP Ledger accounts reflects growing interest and participation in the XRP ecosystem. As the community continues to expand, the broader cryptocurrency market is keeping a close eye on XRP, which has established itself as a prominent player in the digital asset space. Especially after the favorable ruling in the SEC v. Ripple court battle.

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