My phone got some splash water. Unfortunately some water drops landed in the usb charging port. The phone gave me the error message that it detected moisture and i should dry it.
At some point the phone died because of low battery. I did not have charged it yet because of the concernings that the water and charging could damage the phone.
UPDATE: i used paper towels and let it dry overnight. I charged and there was no warnings.
Numerous tests have been done about this already. Nearly every tech related blog site has a version of this test somewhere in their archive if you look for it.
The conclusion is always the same, rice is no more effective than just leaving the device sitting on a counter in open air. Having a fan blowing on the device is more effective. The best option is putting it in a container with desiccant gel packets, ideally unused packets. This is what those water damage bags sold at some stores are, they are filled with desiccant beads.
Of course physically opening the device to dry and clean it internally is the most effective, but not something most users can do.