XRP Supply Shock: Only 225 million XRP are available for sale on 64 exchanges
If large investors enter the market, and the number of tokens available for sale remains low, XRP may face even greater buying pressure. An analysis of 64 crypto exchanges found that there are approximately 225 million XRP tokens listed for sale between the current market price and $5.
This study covered 171 trading pairs, including XRP / USD, stablecoins, the euro, and other currencies. The research found that the quantity of XRP available for purchase on exchanges is significantly less than the total amount held in exchange wallets.
The billions of XRP held by the exchange do not equate to those that can be sold.
Analysis estimates that there are approximately 35 million XRP tokens listed for sale at a price within 2% above the market price; at the same time, buyers have placed buy orders for about 44 million XRP tokens at a price within 2% below the market price.
Among all exchanges, there are approximately 225 million XRP coins available for sale at a maximum price of $5 each. On some major exchanges, this number is around 100 million XRP coins. The Binance wallet holds about 2.6 billion XRP coins, but within 2% of the market price, only 2.8 million XRP coins are listed for sale.
The difference is that the tokens held in the exchange wallets belong to the customers, and these customers may not necessarily be willing to sell them. Only the sell orders actually placed by traders will appear in the exchange's order book.
These data reflect the order situation that is visible during the course of the research. As traders add or cancel sell orders, the quantity available for trading also changes.
How might large-scale purchases of XRP affect prices?
If a large buyer purchases more of XRP than the quantity that sellers are willing to supply at the current price, then the buyer may have to buy the remaining tokens at a higher price.
Researchers use a hypothetical purchase of $1 billion to illustrate this possibility. According to the data in the study, such a purchase could consume all of the XRP tokens listed at or below $5. However, this does not mean that XRP will necessarily rise to $5, as the number of sellers and the available tokens can change.
Large investors may also purchase XRP through over-the-counter private transactions, rather than placing orders directly on exchanges. Such transactions allow them to acquire large positions without exposing all their orders to the public market.
Arthur Britto related XRP wallet transfer
According to wallet information related to Arthur Britto, one of the architects of XRP Ledger, XRPScan identified 12 wallets associated with Britto. These wallets collectively hold approximately 1 billion XRP. Researchers highlighted that in November 2024, there was a transfer of 80 million XRP. Subsequently, these tokens were transferred through wallets allegedly funded by Ripple before reaching Bitstamp.
Some of these tokens may be related to the on-demand liquidity service of Ripple (from On to Demand Liquidity), which utilizes XRP to facilitate cross-border payments.
However, these transfers do not prove that these tokens were used for payment or have been sold. Public blockchain records can only show the flow of tokens, but they do not always reveal the reasons behind the transfers, or what happens to the tokens after they reach the exchanges.
Brad Garlinghouse Explains the Driving Factors Behind the Value of XRP
Ripple CEO Brad Garlinghouse once linked the value of XRP to the supply and demand relationship. He said:
“The price is simple: supply and demand.”
Garlinghouse also emphasized liquidity and the use of XRP in payments. The more financial institutions use it, the higher the demand may be, but the impact on prices depends on how much XRP they need, as well as how the market reacts.
The maximum supply of XRP is 100 billion tokens. However, the number of tokens available for sale depends on how many holders are willing to sell at a certain price.
Evernorth reveals holdings of approximately 473 million XRP. Tokens held by large investors or treasuries may remain outside the market for some time, but their impact on the available supply depends on whether these holders decide to sell or use these tokens.
This study indicates that the quantity of XRP offered for sale may be significantly less than the total amount held by the exchanges. Whether this will lead to higher prices in the future will depend on subsequent buying demand and how many holders are willing to sell.
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