Minimum Amount Required For The XRP Wallets Reduced

Minimum amount required for the XRP wallets has been reduced. The requirement for XRP wallets, which was 20 XRP, has been lowered to 10 XRP.

The minimum amount requirement of 20 XRP for XRP wallets has now been officially lowered to 10 XRP after several weeks of voting. As is known, in order for a wallet to be actively used in XRP, there was a requirement to have at least 20 XRP in the wallet. This situation, which does not usually apply to exchange accounts, concerns users who store their XRP in their own wallet, separate from the exchange. Now, having 10 XRP in the wallet is enough for that wallet to be active. Also, when the account is closed, 2 XRP will now be lost instead of 5 XRP. The change in question was proposed by David Schwartz, Ripple's technology director. In April, Schwartz emphasized that if the XRP price stays above $1 for at least two weeks, he will support this change. It is also said that it may take some time for the relevant change to be implemented in all service providers, and it is possible to revert to the 20 XRP/5 XRP requirement if a validator or validator changes their mind.