The world of cryptocurrency continues to evolve at a rapid pace, and XRP — the native digital asset of the Ripple network — has re-emerged as a major player in the market. With a significant price surge in recent months, XRP has climbed the ranks to become the third-largest cryptocurrency by market capitalization. This resurgence has drawn renewed attention to its supply distribution, particularly the concentration of tokens among top wallet addresses.
As of early 2025, XRP maintains a fixed total supply of 100 billion tokens. Of this, approximately 57.64 billion XRP are in active circulation. What’s particularly striking is how unevenly these circulating tokens are distributed. Data reveals that a small fraction of wallets controls a majority of the available supply — raising questions about decentralization, market influence, and long-term ecosystem health.
The Concentration of XRP: How Much Is Too Much?
One of the most discussed aspects of XRP’s ecosystem is the dominance of top wallet holders. According to blockchain analytics from Coincarp, the top 20 wallets collectively control over 50.31% of the circulating supply. That number climbs to 63.74% for the top 50 and reaches 71.76% for the top 100 addresses.
With just 100 addresses holding nearly three-quarters of all circulating XRP, it’s natural to question whether this level of concentration poses a risk to market stability or investor confidence.
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However, it's important to understand who owns these wallets and why such concentration exists.
Who Are the Biggest XRP Holders?
The largest XRP holdings are primarily linked to three key entities: Ripple Labs, its co-founders, and major cryptocurrency exchanges.
Ripple Labs: The Institutional Backbone
Ripple Labs, the company behind the XRP Ledger and Ripple payment protocol, originally held a substantial portion of the total XRP supply. While much of this has been gradually released into circulation, a significant amount remains under controlled conditions.
Approximately 46 billion XRP are still associated with Ripple Labs, though the vast majority are locked in escrow accounts. These escrowed tokens are released monthly in predetermined amounts — typically up to 1 billion XRP — with any unused portion returned to escrow. This mechanism was designed to prevent sudden market flooding and promote price stability.
Despite these restrictions, Ripple retains access to a meaningful amount of liquid XRP. Blockchain explorer Bithomp shows that one of Ripple’s active wallet addresses holds over 1.3 billion XRP, making it one of the most prominent single holdings on the network.
This structured release model helps maintain transparency and reassures investors that Ripple cannot arbitrarily dump large volumes onto the market.
Chris Larsen: The Largest Individual Holder
Chris Larsen, co-founder and former CEO of Ripple, stands as the largest individual XRP holder, with an estimated 5+ billion tokens to his name. His stake, acquired during the project’s early days, positions him among the wealthiest figures in the crypto space.
While such ownership may seem excessive, it reflects common practices in early-stage blockchain projects where founders receive large allocations to support development, adoption, and ecosystem growth.
Major Exchanges: Custodians of User Funds
A significant portion of top XRP holdings belongs to centralized exchanges like Binance, Uphold, and Upbit. For example:
- One Binance wallet holds over 1.3 billion XRP (~1.33% of circulating supply).
- Upbit controls approximately 4.38% of the total supply across its addresses.
Crucially, these holdings represent aggregated deposits from millions of retail users rather than strategic reserves controlled by exchange executives. Therefore, while they appear as centralized concentrations on-chain, they actually reflect decentralized ownership patterns behind the scenes.
Does Wallet Concentration Pose a Risk?
At first glance, having over half the supply held by just 20 wallets may raise red flags about centralization and potential manipulation. However, context matters.
Unlike some lesser-known altcoins where anonymous whales can influence prices through coordinated dumps or pumps, XRP’s top holders include transparent institutions with long-term interests in the asset’s success.
Ripple Labs, for instance, benefits more from a stable, growing XRP price than from short-term volatility. Similarly, exchanges hold funds on behalf of users and generally avoid engaging in market manipulation due to regulatory scrutiny and reputational risk.
Furthermore, the escrow system governing Ripple’s holdings adds a layer of predictability and trust. Investors can view upcoming release schedules and plan accordingly — a level of transparency not always present in other crypto projects.
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That said, sudden large transfers from dormant wallets or unexpected exchange outflows could still trigger short-term volatility. Monitoring on-chain activity remains essential for informed trading decisions.
Current Market Performance and Investor Sentiment
At the time of writing, XRP is trading at $3.10**, having recently hit a seven-year high of **$3.38. This rally has been fueled by several factors:
- Positive developments in Ripple’s ongoing legal battle with the SEC.
- Growing adoption of RippleNet by global financial institutions.
- Increased speculation ahead of potential ETF approvals or broader regulatory clarity.
With strong fundamentals and renewed investor confidence, XRP continues to attract both retail and institutional interest.
Frequently Asked Questions (FAQ)
Who owns the most XRP?
The largest holder is Ripple Labs, which controls around 46 billion XRP — mostly held in escrow. Among individuals, co-founder Chris Larsen holds over 5 billion XRP, making him the top private owner.
Is XRP supply centralized?
While ownership is concentrated among top wallets (with the top 20 holding over 50% of circulating supply), much of this is due to institutional holdings and user deposits on exchanges. The escrow system also limits Ripple’s ability to freely sell large amounts.
Can Ripple manipulate the XRP price?
Not easily. Ripple releases only up to 1 billion XRP per month from escrow, with unused tokens returned. This structured approach minimizes sudden market impact and aligns Ripple’s incentives with long-term value growth.
How many XRP are in circulation?
As of early 2025, approximately 57.64 billion XRP are in circulation out of a fixed total supply of 100 billion.
Are exchange-held XRP dangerous for decentralization?
Not necessarily. Exchange wallets hold funds for millions of users. While they appear centralized on-chain, they represent distributed ownership. However, users are encouraged to withdraw funds to personal wallets for greater control.
What factors are driving XRP’s price increase?
Key drivers include favorable legal developments, expanding use cases in cross-border payments via RippleNet, and increased market speculation tied to broader crypto adoption trends.
Final Thoughts: Power Players and Market Dynamics
The XRP ecosystem presents a unique blend of centralized oversight and decentralized usage. While a small number of wallets dominate the supply landscape, their roles vary significantly — from corporate stewardship to custodial services for everyday users.
Understanding who holds what — and why — is crucial for assessing risk, anticipating market moves, and making informed investment decisions.
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As XRP continues to gain traction in both financial markets and regulatory conversations, monitoring these top holdings will remain an essential part of any serious investor’s toolkit.
Whether you're tracking Ripple’s monthly escrow releases or watching for large exchange withdrawals, staying informed gives you an edge in navigating one of crypto’s most watched assets.