Wealth concentration is a fundamental aspect to consider when analyzing cryptocurrencies, given the impact whales can exert on price. When talking about XRP, Ripple is the most relevant entity to consider and the biggest whale.
In particular, the company controls the top 10 addresses, holding over 42% of all XRP tokens ever created.
Interestingly, 38.5% of this featured supply is currently locked in escrows — out of circulation. The accounts holding it are Ripple’s 9, 10, 11, 24, 25, 26, 27 and 28. The resting 3.5% of the top 10 whales are Ripple 29 and 39, holding over 1.96 billion and 1.54 billion liquid XRP, respectively.
Top 10 accounts by XRP balance. Source: XRP Scan
These 42 billion XRP holdings are worth $23.5 billion. However, Ripple can only sell the unlocked supply at any moment, which is the one with the effective economic impact.
Top 20 XRP whale addresses
In the meantime, Ripple still dominates the 11th and 12th positions as the largest XRP addresses. Ripple 22 and 23 accounts hold 500 million liquid XRP and 1 billion locked tokens each, for 1.5% of the total supply.
These are the accounts Finbold has been monitoring since September 2023, and they are responsible for recent XRP unlocks.
Looking further, Binance is the largest XRP holder, excluding Ripple, followed by Uphold, UPbit, and Kraken. Nevertheless, these are custody accounts owned by centralized exchanges. Essentially, these entities mostly hold third-party tokens and have a lower theoretical influence on price than Ripple.
Top 20 accounts by XRP balance. Source: XRP Scan
As of writing, XRP is trading at $0.56, up 1.1% in the last 24 hours. The cryptocurrency market now waits for the SEC decision on the Bitcoin ETF, influencing all cryptocurrencies. In this context, Finbold already spotted and reported this week’s Ripple’s sell-off of 100 million XRP ($56 million).
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
