Ripple’s Q3 2024 XRP Market Report: Holdings, Escrow, and Unprecedented Sell-off

Ripple has issued a new quarterly report concentrating on the XRP market, which reveals statistics about the company’s overall XRP holdings. The report released over the weekend also focused on the lawsuit.

The Q3 ‘24 XRP Markets Report is now live.
Last quarter saw major milestones and partnerships including the ETH ETF launch, rising speculation around the U.S. presidential election and the announcement of RLUSD exchange partners and advisory board. https://t.co/BHJ1QViLlH

— Ripple (@Ripple) November 1, 2024

According to the report, XRP’s position as a non-security will remain unchanged. XRP and Bitcoin are the only cryptocurrencies with legal clarity, and every US exchange that had delisted XRP has subsequently relisted it.

In response to the SEC’s appeal of a judgment that certain XRP dividends constituted securities, Ripple has escrowed the necessary amounts and is drafting a cross-appeal, the report stated.

Given that the parties are challenging the Court’s judgment, Ripple deposited the $125 million set aside for remedies in an escrow account.

Among the primary aspects of the most recent report are the exact records that indicate how much XRP Ripple possesses.

How Much XRP does Ripple hold?

Ripple reports its XRP holdings at the beginning and conclusion of each quarter. The company’s XRP reserves are separated into two categories:

• Available XRP: This is the amount of XRP that Ripple currently has in its wallets and can be accessed immediately.
• Escrowed XRP: This category covers XRP that is held in on-ledger escrow accounts and is slated to be released on a monthly basis.

Ripple lacks access to this XRP until it is released from escrow. Each month, Ripple receives a portion of the escrowed XRP—specifically, 1 billion tokens. During this release, the business usually takes 200 million XRP tokens and puts the rest back into escrow.

As of June 30, 2024, Ripple reported owning 4,682,112,997 (4.68 billion) XRP. Additionally, the corporation held 39,500,000,005 (39.5 billion) XRP in escrow at the moment.

By September 30, 2024, Ripple’s holdings had dropped to 4,436,713,796 (4.44 billion) XRP, with the amount subject to on-ledger escrow somewhat lower at 38,900,000,005 (38.9 billion) XRP.

In other words, at the start of the fourth quarter of 2024, Ripple’s total balance was 43.33 billion XRP.

Ripple’s XRP Balance Based on API Data

Ripple’s spendable balance was around 4.42 billion XRP as per the most recent API entry on October 27. Meanwhile, the escrow balance was $38.7 billion.

On November 1, Ripple released 1 billion tokens, reducing the escrow balance to 37.7 billion XRP. If Ripple returns the 800 million tokens, the balance will grow to 38.5 billion XRP.

Ripple transfers XRP to ETPs and Trusts.

Besides, Ripple stated that it occasionally transfers XRP to third parties, including trusts, exchange-traded products (ETPs), and other investment companies.

Ripple’s massive XRP sell-off

Moreover, On November 1, Ripple carried out a sell-off that varied from its regular escrow pattern. Ripple typically reserves roughly 200 million XRP of the 1 billion unlocked each month, but  this month, an additional 270 million XRP were delivered to Ripple (1), the account designated for monthly sales.

## RIPPLE PREPARES FOR WHAT COULD BE THE LARGEST XRP DUMP IN 7 YEARS

November has arrived, and Ripple has shocked the market, preparing what could be its largest monthly dump in seven years.

The company, XRP Ledger’s core developer and largest holder, reserved 470 million $XRP… pic.twitter.com/Dhf1q4FViy

— Vini Barbosa (@vinibarbosabr) November 2, 2024

This raises the total reserved XRP to 470 million, a significant increase from the typical 200 million. This decision has alarmed investors, as such a huge sale could put downward pressure on the XRP price, perhaps leading to more volatility and a loss of shareholder confidence.

Ripple’s major sell-offs have historically resulted in significant price decreases. This is evidenced by a 400 million XRP dump in June 2024, which resulted in an almost 20% price reduction within a week.