The XRP Army recently stumbled upon a fascinating document that sheds light on Ripple’s plans for the XRP supply. Authored by three Ripple employees and Roman Leal from Goldman Sachs, the report reveals that Ripple intends to hold onto 25% of the total XRP supply while distributing the rest for further development.
Ripple currently holds 25 billion XRP, which is equivalent to around $12.5 billion. This reserve will be used to fund the company’s operations and generate profits. It’s important to note that Ripple has been selling XRP for several years and will continue to do so in the future. As a result, the company currently has 4.87 billion XRP in spendable balance and 39.5 billion in escrow, bringing its total XRP reserve to over 44.36 billion tokens.
Back in 2017, Ripple secured 55 billion XRP in escrow, but before that, it held 61.68 billion in spendable wallets. With only 44.36 billion XRP remaining, it’s clear that Ripple has liquidated over 17 billion XRP over the years.
The document also reveals that Ripple plans to distribute the remaining 75% of XRP’s supply to incentivize market makers, gateways, and consumers to use its Ripple protocol. This move aims to create a demand chain that will drive up the value of XRP. Currently, there are 55,618,185,850 XRP in circulation.
It’s worth noting that this document was published in November 2014, shortly after the company’s inception. Some community members have dismissed its relevance, considering its age and the possibility of Ripple deviating from its original plans.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The author’s opinions expressed in this article do not necessarily reflect those of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic holds no responsibility for any financial losses incurred.
