10 XRP limit might be a major roadblock for onboardng on XRP Ledger, XPMarket cofounder says
10 XRP, the minimum reserve an XRPL account needs to be transacting on the network, is an obstacle for new user inflow. Such a"popular" opinion was shared by CEO and founder of XRPL-centric NFT and GameFi ecosystem XPMarket.10 XRP, a minimal reserve for on-chain accounts to be activated in XRP Ledger, is too high, Dr. Artur Kirjakulov, CEO and founder of XPMarket, claims in his recent X thread.
After seeing its impact on user on-boarding this week, I’m convinced it's unreasonable to maintain such a high reserve. Anyone claiming otherwise is sabotaging retail-driven…He opined that such a threshold might be associated with"penny gap," i.e., a psychological barrier preventing new customers from exploring pay-to-use applications.While he claimed that this opinion is a popular one in the XRP community, some enthusiasts of the XRP Ledger ecosystem disagreed with Dr.
Also, withdrawal fees on both the Bitcoin and Ethereum networks are much higher than those of XRP account activation.As of press time, the minimal reserve for XRP Ledger account activation is equal to $5.37. The XRP price added 0.65% in the past 24 hours on falling trading volume. For a long time, the discusion over minimum reserves was running in the global XRP community. Its proponents claimed that this is a useful instrument to protect XRPL resources from being drained by spammers.Crypto Whale Tracker - How do traders make money analysing wallets? Find out at the ArbitrageScanner.io Event
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