In recent months, XRP, the digital currency linked to the Ripple network, has experienced a remarkable surge in value, surpassing several other cryptocurrencies with substantial market capitalizations. As of now, XRP ranks as the third-largest cryptocurrency by market capitalization, and the current buying patterns indicate it may hold this position for some time.
As of January 25, 2025, XRP has a total supply capped at 100 billion tokens, with about 57.64 billion tokens circulating. Interestingly, a large portion of these circulating tokens is concentrated within a small group of wallets. For instance, the top 10 wallets alone account for approximately 20.99% of the circulating supply, while the top 50 wield around 53.3%. This concentration poses questions about wealth distribution within the ecosystem and identifies the key beneficiaries of the ongoing price increase.
Top 20 Wallets and Their Influence Over XRP Supply
A significant portion of XRP’s holdings can be traced back to Ripple Labs, its founders, and major crypto exchanges. According to Coincarp data, out of the 4,840,747 registered addresses, the top 20 account for 50.31% of the supply, while the top 50 and 100 account for 63.74% and 71.76%, respectively.
Analyzing Ripple’s Share
Ripple Labs currently controls around 46 billion XRP tokens, although most remain locked in escrow. This setup means the tokens are released gradually, which curbs Ripple’s ability to freely manipulate these funds. Despite these limitations, the company still holds a sizable amount of liquid XRP. For example, a blockchain explorer named Bithomp shows that a single Ripple-controlled wallet contains over 1.3 billion XRP.
Furthermore, Ripple Labs’ co-founder Chris Larsen is the biggest individual XRP holder, owning over 5 billion tokens, placing him among the wealthiest figures in the space. Major exchanges like Binance and Upbit also play significant roles, managing a noteworthy portion of XRP. One of Binance’s wallets, for instance, contains over 1.3 billion XRP, which makes up about 1.33% of the circulating supply. Meanwhile, the South Korea-based Upbit exchange holds approximately 4.38% of the total supply.
What’s the Takeaway on Holdings Distribution?
The dominant holdings by exchanges and entities linked to Ripple suggest a landscape where a relatively small group of stakeholders exerts considerable influence over the XRP ecosystem. However, these holdings are not concentrated within any private entity likely to manipulate prices for individual gain.
Moreover, the holdings by exchanges largely represent pooled assets belonging to countless individual users. Consequently, these holdings do not inherently skew the natural price movement of XRP.
At the moment, XRP is priced at $3.10, having recently achieved a seven-year peak of $3.38.
The image above highlights the current trading scenario of XRP, showcasing its recent price trends and market movement.
Image Credit: Medium, Tradingview.com
