About 225 million XRP was visibly offered for sale up to roughly $5 across the exchanges surveyed, according to an analyst who says he examined 64 venues and 171 trading pairs. The video challenges a common assumption behind the supply-shock debate: that billions of tokens held in exchange wallets are necessarily available to buy at current prices.
Edo Farina cites roughly 22 billion XRP in tracked exchange wallets, including about 2.6 billion on Binance. Those balances, however, include customer holdings that have not been placed into sell orders.
A narrow snapshot of available liquidity
With XRP trading near $1.31 at the time of recording, the analyst reports approximately 35 million XRP in sell orders within 2% above the market price on exchanges they classified as trusted. Buy orders within 2% below the price totaled about 44 million XRP.
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That indicates greater displayed buying interest within those bands—not necessarily more buyers overall. Orders can be canceled, replenished or hidden, and the transcript does not provide the underlying dataset or a reproducible methodology.
Across all surveyed venues, the reported sell-side total reached about 225 million XRP between the prevailing price and $5. For the analyst’s trusted-exchange subset, it was closer to 100 million XRP. Farina says duplicate books, inactive markets and extreme-priced orders were excluded.
“An order book is like a picture, not a movie,” Farina acknowledges. That qualification matters more than the headline totals: a static snapshot cannot establish how much buying would sustainably lift XRP to a particular price.
The institutional buying argument remains conditional
The YouTube video considers a hypothetical $1 billion purchase, while acknowledging that a large institution would likely seek over-the-counter liquidity rather than sweep public order books. BlackRock appears as an example, not as a confirmed XRP buyer.
Edo Farina also discusses transfers involving wallets attributed to XRP Ledger co-creator Arthur Britto and movements toward Bitstamp. The proposed connection to Ripple’s payment liquidity remains a hypothesis; transfers alone do not establish their purpose or reveal subsequent activity inside an exchange.
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