Glassnode blockchain researcher uncovers distribution error declare it’s $XRP Provide on exchanges fell to 1.6 billion.
declare of $XRP provide shock Resurfaced after Glassnode knowledge confirmed change balances had fallen to 1.6 billion $XRPcomparable to solely 2.6% of 60.9 billion. $XRP In circulation. Some commentators and media platforms interpreted this determine to be a complete $XRP will be offered, and such low overseas change reserves tighten provide.
Nevertheless, Glassnode blockchain researchers lately defined that this indicator solely tracks wallets that Glassnode has recognized as belonging to an change. that This additionally contains storage holdings, with out distinguishing between what is definitely being offered.
Vital factors
- Glassnode knowledge confirmed 1.6 billion $XRP The quantity in circulation on exchanges is equal to 2.6% of the circulating provide of 60.9 billion cash.
- In consequence, $XRP Group celebrities and media platforms interpreted this quantity because the change's whole provide, reinvigorating the availability shock debate.
- Blockchain researchers at Glassnode debunked this and confirmed that the metric solely exhibits wallets that Glassnode has confirmed are exchange-owned, and likewise contains custodial holdings.
- He defined that Glassnode solely tracks a small portion of change wallets, which makes the reported balances seem unusually low.
- Glassnode plans so as to add extra change addresses recognized by means of the XRPL block explorer, which can enhance reported balances.
- In accordance with XRPScan knowledge in December 2025, exchanges held as much as $16 billion $XRPin 10 billion $XRP It spans Upbit, Binance, Binance.US, and Uphold.
Glassnode researchers approve $XRP Change provide exceeds 1.6 billion
The researcher's reply was: share Beneath a pseudonym $XRP Commentator, Crypto Arsenal. He stated posts circulating on-line misunderstand what the change steadiness indicator really measures.
$XRP Steadiness | Glass Node
Blockchain researchers imagine that Glassnode’s “change steadiness” metric is just $XRP It’s saved in wallets that the corporate has internally recognized and verified as belonging to the change.
These wallets embrace all the things $XRP It’s saved there, together with storage holdings. In different phrases, this indicator is just not: one other Tokens that may be actively traded from What’s saved in your behalf.
Crypto Arsenal then identified that Glassnode solely tracks a restricted portion of change wallets. The corporate has not but recognized all exchange-related addresses, so massive share of $XRP held in change do do not need seem With the present knowledge. This confirms why the numbers we report are low.
On-chain knowledge has limitations
He additionally stated nobody may assess how a lot. $XRP You’ll be able to really promote utilizing solely on-chain knowledge. Specifically, pockets balances don’t reveal whether or not the tokens belong to long-term holders, custodial accounts, or lively merchants. In consequence, drawing agency conclusions about “out there provide” based mostly solely on recognized change wallets can result in deceptive claims.
In the meantime, he confirmed that Glassnode plans to develop its monitoring by incorporating change addresses recognized up to now. XRPL block explorers like XRPScan. This course of will start shortly.
Sooner or later, GN will take into account incorporating addresses recognized by the XRPL Block Explorer to enhance the scope of knowledge on which GN resides.
This course of will start quickly, so don't panic if you happen to see the change's provide rising…it's simply chosen data being up to date. pic.twitter.com/h5uGmI4VVs
— CryptoArsenal (@_CryptoArsenal) February 10, 2026
Reported change provide could enhance as extra change wallets are added to the system. He suggested that market contributors don’t must panic even when the overseas change steadiness determine rises. such a change would do present Improved knowledge assortment quite than new knowledge assortment $XRP flowing change.
Change holds almost $16 billion $XRP
Notably, this isn’t the primary time the availability shock argument has confronted criticism. Fundamentals of cryptography Discovered final december that the thought $XRP The collapse of change balances was flawed. Knowledge from XRPScan confirmed The change held 16 billion belongings. $XRP, symbolize 26% of circulating provide.
Additional knowledge reveals as much as $10 billion is held on simply 4 main exchanges together with Upbit, Binance, Binance.US, and Uphold $XRP token. These numbers exceed the numbers that have been in style on the time and are totally different from 1.6 billion. $XRP Displayed in Glassnode's present metrics.
