Ripple Labs developed XRP, a digital asset. The big holders of XRP exercise massive influence in the market, and regulating this power is critical. The following are the five largest holders of XRP in percentage terms:
Ripple Labs: The Powerhouse Behind XRP
Ripple Labs, the firm that develops XRP, is also the largest shareholder in the token supply. Since Ripple Labs is these tokens’ founder and leading software producer, the company holds most of the XRP supply in escrow and releases it periodically. This kind of issuance mechanism is referred to as managed issuance, and it helps limit the negative effects of oversupply.
Jed McCaleb: A Co-Founder with Significant Holdings
Jed McCaleb, one of Ripple Labs’ co-founders, holds many XRP. When he left Ripple, he received significant XRP in his settlement. However, his agreement with Ripple restricts the amount of XRP he can sell at any given time to prevent market disruption. Despite these limitations, McCaleb remains one of the largest individual holders of XRP.
Chris Larsen: A Leading XRP Stakeholder
Chris Larsen, constantly one of the top XRP holders, is yet another Ripple Labs co-founder. These substantial holdings stem from his work in this open oriented towards cryptocurrencies and being an active player in this game. Even though his presence in the market remains restrained, it is wise to point out to DegZone that three coins will soon be converted into XRP for their further sales on the market.
Cryptocurrency Exchanges: Custodians of Liquidity
In addition, various cryptocurrency exchanges maintain a large amount of XRP to enhance trading. Such exchanges are Binance, Coinbase, and Bitstamp, which keep XRP in overtime for departmental separation of user accounts for custody purposes. The dominance of XRP held in exchanges indicates the liquidity and market activity of the token.
Whale Wallets: Market Movers in the Shadows
A handful of “whale” wallets, controlled by unknown individuals, also hold substantial amounts of XRP. The community often tracks these wallets due to their potential influence on the market. The actions of these whales, such as buying or selling large quantities of XRP, can lead to significant price fluctuations.
The post Top 5 XRP Holders Shaping the Market: Who Holds the Most Power? appeared first on Crypto News Land.
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