XRP Ledger Proposes Zero-Reserve Wallets for Payment Apps
Developers are moving to enable XRP Ledger wallets that don't require upfront XRP deposits.
Developers are moving to enable XRP Ledger wallets that don't require upfront XRP deposits. XRP (XRP) is trading at $1.31, down 0.8% since this brief published. This is an original TLT brief synthesising 3 outlets (Blockonomi, The Cryptonomist, Crypto Economy), plus live market data, as of Wed, 28 Oct 2026 15:15:03 UTC.
This change could significantly lower barriers to entry for payment apps and automated services using XRP Ledger, making it easier to create and manage wallets at scale while shifting reserve costs to sponsors.
- Proposal would allow zero-XRP wallets via sponsored accounts
- Sponsors would cover XRP reserve requirements for new wallets
- Change targets payment apps and automated payment systems
- XRP market cap at $83.45B with price at $1.32
Both Blockonomi and The Cryptonomist report that the XRP Ledger community has proposed the SponsoredAccountCreate amendment, allowing developers to create wallets without requiring XRP deposits by shifting reserve costs to sponsors. The Cryptonomist specifies the proposal was submitted on October 15, 2023, while Blockonomi highlights Ripple's partnership with Privy for embedded wallets and notes that the Sponsor amendment had 10 supporting validator votes on October [...], suggesting differing levels of detail in their coverage.
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- XRP Ledger Proposes Zero-Reserve Wallets for Payment Apps — this brief
Developers of the 
XRP Ledger have proposed a new amendment called SponsoredAccountCreate that would enable the creation of wallets without requiring an initial XRP deposit. This change would allow sponsoring accounts to cover the necessary reserve requirements, while users retain full control over their wallets.
The proposal, submitted on October 15, 2023, is designed to facilitate the development of payment applications and automated payment systems by removing the need for each wallet to hold XRP. Instead, sponsors would bear the reserve costs, making it easier to deploy and manage large numbers of wallets.
Multiple outlets confirm that this proposal aims to lower barriers to entry for developers and businesses using the XRP Ledger. While Blockonomi emphasizes Ripple's partnership with Privy for embedded wallets and automated payments, The Cryptonomist provides details about the submission date and the mechanism of having another account pay the required reserve.
This development comes as the total crypto market cap stands at $2.77 trillion, with XRP's market cap at $83.45 billion. XRP is currently priced at $1.32, showing a 24-hour increase of 0.68% and a 7-day decrease of 2.96%. The broader market remains relatively flat, with a Fear & Greed index of 51 indicating a neutral sentiment.
The introduction of zero-reserve wallets could potentially boost the adoption of XRP Ledger for various applications, particularly in the realm of payments. It remains to be seen how the community will respond to this proposal and whether it will be implemented in the near future.
Since this brief published about 2 hours ago, XRP (XRP) has moved from $1.32 to $1.31 — -0.76%.
The chart plots XRP's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 XRP ≈ ₦1,815.97 (about $1.31), down 0.1% over 24 hours. The naira itself trades about 2.4% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
XRP Ledger Proposes Zero-Reserve Wallets for Payment Apps — questions & answers
What is the SponsoredAccountCreate proposal?
It's an amendment that would allow XRP Ledger wallets to be created without requiring an initial XRP deposit, with sponsors covering the reserve costs.
How would zero-reserve wallets benefit developers?
They would lower barriers to entry by removing the need for each wallet to hold XRP, making it easier to deploy and manage large numbers of wallets.
What is the current status of the proposal?
The proposal was submitted on October 15, 2023, and has received support from 10 validator votes as of October [...], according to Blockonomi.
How much is 1 XRP worth in naira today?
About ₦1,815.97 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $1.31. The naira price moves with both XRP's US-dollar price and the USDT/NGN rate; use our XRP in naira page for any amount.
Has XRP's price moved since this brief was published?
XRP is down 0.76% since this brief first published — trading at $1.31 now versus $1.32 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from Blockonomi, The Cryptonomist, Crypto Economy, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.