Ripple Labs stands as the largest holder of XRP, commanding approximately 42% of the total supply, which is capped at 100 billion tokens. The company’s ownership is substantial, comprising 4.5 billion XRP in liquid assets dedicated to operational use and a staggering 35 billion held in escrow. This strategic handling of XRP includes a systematic release mechanism where 1 billion XRP is made available each month via a smart contract, a measure aimed at maintaining price stability and managing supply.
Ripple’s careful management means that a significant portion of the unlocked XRP—around 60% or more—is typically relocked to avoid inundating the market, allowing the company to only release what it needs for operational costs. If Ripple were to cease this relocking, the escrow reserves could be exhausted in just three years, underlining the importance of this strategy. This dominance in supply raises concerns among cryptocurrency enthusiasts about decentralization and the ethos of XRP.
Currently, there are over 6.6 million active XRP wallets, but many of these are smaller or inactive, suggesting that the true number of unique holders may be less than 1 million.
In the individual realm of ownership, Chris Larsen, co-founder and executive chairman of Ripple, is the foremost individual holder with over 2.5 billion XRP, valued at roughly $7 billion. His extensive holdings span eight separate wallets, with the first four containing over 500 million XRP each, untouched since he received them as a founder’s gift in 2013. Recent sell-offs have seen him reduce his holdings, notably moving $175 million worth of XRP onto exchanges in July 2025, just as XRP reached seven-year highs. Despite these actions, Larson’s holdings still represent 4.6% of the overall market cap of XRP.
In the landscape of exchanges, platforms like Upbit, Binance, and Coinbase are notable players in the XRP rich list. Upbit leads with around 6 billion XRP in custody, driven by strong retail demand from Korea. Binance follows with 2.7 billion XRP, while Coinbase has seen its holdings drop significantly to 780 million due to potential strategic repositioning amidst a changing regulatory landscape. Only 100 addresses control an astonishing 68% of the circulating supply of XRP, pointing to a high concentration of ownership.
2025 has proven to be a transformative year for XRP, transitioning from a contentious asset embroiled in legal disputes to one with clearer legal standing. As of June 2025, the number of wallets holding over 1 million XRP reached an all-time high of 2,708, reflecting a surge in both institutional and retail confidence. This uptick has coincided with an increase in daily active addresses on the XRP Ledger, signaling growing interest.
The current landscape reveals not only the dominance of Ripple Labs and Chris Larsen in the XRP ecosystem but also the concentration of holdings among a few large investors, raising important questions about decentralization amidst a backdrop of increasing whale activity and growing institutional interest. The ongoing confidence in XRP among retail investors is highlighted by the rising total of customer custody deposits across exchanges, suggesting continued engagement despite internal market power dynamics.
