Official reports from XRP Ledger or major cryptocurrency analytics platforms

XRP Reduces Wallet Reserve Requirement by 90% to 1 XRP ($2.56) Amid Price Surge, Active Users at 5,000

Dec 3, 2024, 09:49 AM

XRP has announced a significant reduction in its reserve requirement for creating new wallets, decreasing it by 90%. This change allows users to start an active wallet with just 1 XRP, equivalent to approximately $2.56, making the cryptocurrency more accessible to a broader audience. The adjustment comes amid a price surge for XRP, which has been noted by various sources, including developers from the XRP Ledger. The previous requirement had been 10 XRP to activate an address and 2 XRP for each token transaction, aimed at preventing disorderly expansion of the ledger. The move is expected to increase user engagement, although current active wallet usage remains limited, with the largest browser wallet reporting only 5,000 monthly active users and lacking a first-party client wallet.