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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Here’s The Total Number Of XRP That Ripple Currently Holds

Scott Matherson
Scott Matherson
1 year ago
2 mins read
Ripple XRP crypto currency theme concept. Ripple coin or XRP icon on modern circuit board background

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Ripple Labs Inc., the company behind the XRP token, has released its Q2 XRP Markets report. As part of the report, the company shared its XRP holdings as of March 31, 2023, and June 30, 2023. 

Ripple’s XRP Holdings

Ripple revealed that its XRP holdings fall into two categories; wallet-held XRPs and ones in escrow lockups (Ripple releases one billion XRP monthly as part of its monthly token unlock). As of March 31, 2023 (representing the first quarter of the year), Ripple held  5,506,585,918 XRP and a further 42,800,000,013 XRP subject to on-ledger escrow. 

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Meanwhile, as of June 30, 2023 (representing the second quarter of the year), the company held 5,551,119,094 XRP, and a further 41,900,000,005 XRP were subject to on-ledger escrow. 

From the report, Ripple grew its XRP holdings in Q2 as the Q2 figures are slightly up from the Q1 figures. However, its XRP tokens in escrow at the end of Q2 slightly reduced compared to the Q1 figure. 

Ripple (XRP) price chart from Tradingview.com

XRP price still holding $0.69 | Source: XRPUSD on Tradingview.com

Ripple Addresses Popular Misconceptions

Ripple also addressed some misconceptions from the recent court ruling that XRP isn’t a security. On July 13, 2023, Judge Analisa Torres ruled in favor of Ripple in the ongoing case between the crypto company and the United States Securities and Exchange Commission (SEC).

The first misconception Ripple addressed in the report was whether or not the ruling was a split decision, as several media outlets had tagged Ripple’s victory again the SEC as a ‘partial victory.’ The crypto firm has debunked this claim by categorically stating that the ruling isn’t a split decision. 

Ripple stated that the ruling was a big win for its firm and the crypto industry as it provides regularity clarity not only for Ripple but also to other token issuers, as they can now determine that their tokens, in and out of themselves, are not securities. 

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The company also stated in the report that its XRP tokens were never a security. It admitted that there are instances where XRP (just like “an orange grove or a gold bar”) can be sold as an investment contract. However, such events don’t “magically transform” the token into a security. 

Ripple’s XRP enjoyed a significant rally following the court’s ruling, but there remain concerns that an appeal from the SEC could see the token lose most of its gains from the post-lawsuit rally. As of the time of writing, XRP is trading at $0.69, according to data from CoinGeko.

Featured image from iStock, chart from Tradingview.com

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

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Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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