The circulating supply of XRP continues to grow at a steady clip as Ripple sells portions of its holdings and more institutional players enter the space.
There is a total of about 100 billion XRP in existence, and Ripple owns more than half of that amount. Crypto aggregator CoinMarketCap does not consider Ripple’s XRP holdings to be part of the circulating supply, which makes it easy to track new XRP entering the market.
On December 16th of last year, the crypto aggregator reported XRP’s circulating supply at 40.9 billion, according to historical data. Today, that number stands at 41.9 billion.
CoinMarketCap, December 16, 2018
CoinMarketCap, April 20, 2019
Ripple keeps the vast majority of its XRP locked in escrow. Every month, the company releases one billion XRP, sells a small portion of it over-the-counter, and returns the rest back into escrow. CoinMarketCap says it uses Ripple’s own network data on “distributed and “undistributed” coins to determine how much XRP is currently in circulation.
The circulating supply data we are reporting for XRP is directly from the Ripple network stats. The “distributed” portion of the XRP supply is what is currently in circulation. The “undistributed” portion of XRP is not circulating as indicated by Ripple. https://t.co/jTcjaQg7gX
— CoinMarketCap (@CoinMarketCap) December 4, 2018
Crypto whale watchers are tracking Ripple’s movements of XRP.
In the last week, Ripple transferred a total of 107,000,000 XRP worth $36.1 million. Of those transactions, one in particular appears to be Ripple selling about $6.7 million of its digital assets to a third party.
Here’s an overview of the rest of Ripple’s transactions in the past week, in addition to the transaction above.
- 28,000,000 XRP worth $9.4 million transferred from Ripple to XRP II wallet
- 30,000,000 XRP worth $10.1 million transferred from Ripple to unknown wallet
- 9,000,000 XRP worth $3.0 million transferred from Ripple to Ripple OTC Distribution wallet
- 10,726,155 XRP worth 3.6 million transferred from unknown wallet to Ripple OTC Distribution wallet
- 10,000,000 XRP worth $3.3 million transferred from Funding Wallet 1 to unknown wallet
Ripple says it sold a total of $535 million worth of XRP in 2018. Of the $535 million, the company sold about $171 million XRP directly to institutional participants. The rest of the XRP was sold programmatically to crypto exchanges and other companies that have ongoing deals with Ripple.
Join us on Telegram Follow us on Twitter
Check Out the Latest Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.