Ripple’s controversial cryptocurrency XRP continues to see strong demand from investors despite the years-long SEC lawsuit. According to on-chain data, the number of addresses in the top 0.01%, meaning wallets with at least 5.75 million XRP, has risen to 486, while the number of millionaire addresses has decreased to 1,970 during this period.
Top 10 Holders Control 11% of XRP
As of December 25, there were more than 59 billion XRP coins in circulation, and the market value of XRP was approximately $34.44 billion. According to data provided by XRP Scan, the top 10 addresses on the list of XRP rich control about 11% of all existing XRP coins, which corresponds to a value of more than $4 billion considering the market value. Meanwhile, according to the ranking, the top 50 XRP owners control more than 26.24% of the total circulation value of XRP, which is over $10 billion.
Top 10 XRP Holders by Percentage
The largest share of XRP coins belongs to Ripple, Executive Chairman Chris Larsen, and CEO Brad Garlinghouse, who were cleared of all charges by the US Securities and Exchange Commission (SEC) in October. Cryptocurrency exchanges such as Binance, Kraken, Uphold, and Bitbank also appear to hold significant amounts of XRP.
Here is a list of the top ten XRP addresses in 2023:
Examining the table above, it is seen that one of Ripple’s addresses holds approximately 1.96 billion XRP coins in a single wallet. This address appears to investors as the largest XRP holder. The second address on the list also appears to be associated with Ripple.
On the other hand, there is a view that XRP coins held by centralized exchanges are generally customer deposits in reserves. For example, Binance appears to be one of the largest XRP investors. Just the top 10 addresses on the BNB Chain hold 168 million XRP.
The supply of XRP is limited to 100 billion units. During the early stages of the project, Ripple co-founders Chris Larsen, Jed McCaleb, and Arthur Brito received 20 billion XRP. Jed left the company in 2014 and has since sold all of his XRP holdings. However, it is known that the other co-founders still hold most of their XRP.
Speaking of Larsen, he is known to be one of the largest XRP holders with over 5 billion coins. It is known that at least five addresses holding a total of 2.5 billion XRP belong to him. In addition, Ripple CEO Brad Garlinghouse also owns a significant amount of XRP, but the exact number of coins he holds is not known.
