Data from the XRP rich list has revealed that the top 10 XRP wallets control 11% of its circulating supply, with over 59 billion XRP tokens in circulation. As expected, crypto firm Ripple makes the list, with major crypto exchanges like Binance forming the remainder of the list.
Top 10 XRP Wallets
The top two XRP wallets belong to Ripple, with the crypto firm holding over 1.7 billion and 1.5 billion XRP tokens in both wallets, respectively. These two wallets alone account for 3.5% of XRP’s circulating supply.
A wallet belonging to Binance comes in at number 3, with a holding of over 1.48 billion XRP tokens. The next on the list happens to Ripple’s partner and Web3 financial platform Uphold, with over 1.37 billion XRP tokens being held in one of their wallets. NewsBTC had previously reported how Uphold was said to have held over $1.25 billion XRP tokens under management for its customers.
Uphold also came in at number seven on the top 10 XRP wallets, with over 796 million XRP tokens held in another of its wallets. Besides some forming part of customers’ funds, Uphold’s significant XRP holdings are also due to the fact that the platform provides its infrastructure to facilitate Ripple’s payment service.
Other crypto exchanges like Upbit, Kraken, and Bitbank also made the list, coming in at fifth, eighth, and tenth, respectively. Bitbank being on the list isn’t so surprising, considering the amount of interest that XRP has managed to gain in Japan. The region contributes to a huge part of the Spot trading volume on XRP.
Meanwhile, it is also worth mentioning that Ripple’s XRP holdings extend beyond the ones in circulation. Data from the XRP rich list also showed that the crypto firm still has over 40 billion XRP tokens in escrow lock-up. Ripple is known to release 1 billion XRPs monthly from these escrow lock-ups.
Token price retraces to $0.62 | Source: XRPUSD On Tradingview.com
Ripple’s Co-Founder Makes Top 50 XRP Wallets
Ripple’s co-founder Chris Larsen made the list of the top 50 XRP wallets, with five different wallets attributed to him on the list. These five wallets hold a cumulative sum of 2.5 billion XRP tokens. These XRP tokens are believed to be the ones that were distributed to the Ripple co-founder when the crypto firm initially launched.
Wallets belonging to Ripple’s CEO Brad Garlinghouse were nowhere to be found in a list that covers the top 10,000 XRP wallets. There is, however no doubt that Garlinghouse holds a significant amount of XRP tokens. Back in 2020, the SEC had accused Larsen and Garlinghouse of making personal unregistered sales of their XRP tokens.
At the time of writing, XRP is trading at around $0.62, up over 1% in the last 24 hours, according to data from CoinMarketCap.