CandleFocus Report: Chris Larsen’s 2.75B XRP Could Soon Support Ripple ODL as Supply Tightens
2024-10-19
Author: Content Editor
According to XRPWallets, a community-driven account that tracks flows around Ripple's On-Demand Liquidity (ODL) service, there has been a significant reduction in XRP's market supply. They speculate that Ripple Chairman Chris Larsen's 2.75 billion XRP could potentially be used to support ODL in the future. On-chain data shows that a total of 45 million XRP tokens have been moved from one of Larsen's wallets, with only 5 million tokens remaining. This trend of reducing XRP supply in the open market is due to Ripple's consistent purchases of XRP to power its ODL service. While it is still speculative, XRPWallets suggests that Ripple may turn to Larsen's XRP holdings as a source of tokens for ODL.
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