Identify the CEO of XPMarket 538,586 wallet
Contains a minimum of 20 XRP tokens as reserve balances.
The total number of inactive accounts is 1.13 million wallets containing 16.7 million XRP tokens.
Historical reductions of the reserve from 20 to 1 XRP keep the old balances intact.
Analysis on-chain reveals that over 1.1 million XRP Ledger wallets contain dormant balances totaling $51.7 million of inactive XRP tokens. Dr. Arthur Kerjakulov, co-founder and CEO of the analytics platform XPMarket, identified this pattern while studying the distribution of wallets across the XRPL network.
Data shows that 538,586 wallets currently hold exactly 20 XRP tokens, valued at approximately 62 US dollars each at current prices nearing 3.10 US dollars. These accounts represent 7.64% of a total of 7,048,872 active wallets on the XRP Ledger, making a balance of 20 XRP the second most common wallet balance across the network.
Changes in XRP reserve requirements leave behind old balances.
The prevalence of 20 XRP balances is due to historical reserve requirements that have been lowered several times as the price of XRP increased. Initially, XRPL mandated 20 XRP as the minimum to activate a wallet, but community votes gradually reduced this threshold.
In September 2021, XRPL validators reduced the base reserve requirement from 20 XRP to 10 XRP when the trading price of the currency was around 1.20 US dollars, making the requirement's value approximate to 12 US dollars at that time. The network implemented another reduction in December 2024, lowering the reserve from 10 XRP to 1 XRP after the price of XRP rose to over 2 US dollars.
XRPL statistics data indicates that 10 XRP represents the most common wallet balance, held by 592,818 accounts, which is equivalent to 8.4% of the total wallets. This pattern reflects the minimum reserve period from September 2021 to December 2024.
In total, the number of wallets containing 10 or 20 XRP is 1.13 million accounts, holding 16.7 million tokens, valued at over 51.7 million US dollars. These balances appear untouched despite reductions in reserve requirements that would allow partial withdrawals.
The analysis of dormant wallets sparked a discussion about the effectiveness of trading XRP, as some market participants noted that these dormant balances reduce the available trading supply. However, wallet owners retain full control over these funds and can activate them at any time.
The recent interest in partially dormant cryptocurrency assets stems from California law number 1052, which allows the state to claim dormant assets held on trading platforms after three years. However, this law only applies to centralized trading platform accounts, not to self-custody XRPL wallets, and their owners can reclaim seized assets through identity verification.
