The undisputed XRP rich list
Ripple Labs is by far the largest XRP (XRP) owner, controlling around 42% of the total 100 billion supply. This is unsurprising, as it is the company that developed the XRP Ledger and created the XRP digital currency.
The San Francisco-based operation has its massive stake broken down into two categories:
- 4.5 billion XRP in liquid holdings for operational use
- 35 billion locked in escrow.
Ripple runs an escrow release system where a predictable monthly amount of XRP is unlocked. Typically, 1 billion XRP is released per month using a smart contract mechanism on the XRP Ledger.
This is a method for managing supply and maintaining price stability. These released funds are used to fund Ripple’s operational expenses and provide liquidity for its On-Demand Liquidity Service (ODL).
As a part of careful treasury management, Ripple doesn’t flood the markets with fresh XRP every month. Instead, 60% or more of monthly unlocked funds are relocked, with the company not needing the full complement for operational costs.
In an extreme example, if Ripple were to stop relocking tokens, the whole 35-billion escrow stash would be depleted in just three years.
The relocking pattern currently in place means Ripple will likely continue to top the XRP rich list for years to come. For many crypto users, such large control of the supply is uncomfortable. The 42% controlling stake gives it unprecedented influence on the marketing dynamics.
It is basically a double-edged sword that offers flexibility but raises concerns about decentralization and the ethos it backs.
Did you know? There are over 6.6 million active XRP wallets; however, many of these may actually be very small or inactive wallets. Additionally, a notable share of those wallets likely belongs to repeat users who maintain multiple addresses. So, in reality, there might be fewer than 1 million unique XRP holders worldwide.
Chris Larsen’s billionaire empire
You might not be surprised to learn that Ripple co-founder and executive chairman Chris Larsen is the largest individual XRP owner with over 2.5 billion XRP worth around $7 billion.
He distributes his holdings across eight distinct crypto wallets, which are tagged by blockchain explorers.
Of his eight wallets, No. 1 through 4 still contain just over 500 million XRP and have never made any outbound transfers. He received these funds as a founder’s gift in 2013. Although wallet No. 5 has been in selling action during 2025, reducing holdings from 500 million XRP to 280 million.
In July 2025, Larsen made significant sell-offs, hitting the headlines when $175 million worth of XRP was transferred onto exchanges after July 17. These sales coincided with XRP reaching seven-year highs above $3.
Still, Larsen’s total holdings represent 4.6% of the entire XRP market cap. This makes him not just one of the wealthiest XRP owners, but one of crypto’s richest individuals.
Even as an individual, he retains enough XRP to significantly influence market dynamics.
“Wallets linked to Chris Larsen only have another 2.81B XRP ($8.4B) left!” noted ZachXBT on X.
Did you know? To enter the top 10% of the XRP rich list, you only require 2,396 XRP, which is about $7,000 as of August 2025.
XRP exchange powerhouses
Billions of dollars in customer funds live on exchange platforms either during daily trading activity or for storage. A selection of the world’s most popular exchanges make the XRP rich list.
Upbit, the Korean giant, is the XRP exchange leader with around 6 billion XRP in custody. It shows that Korean retail demand is incredibly strong, along with the institutional trading volume.
Elsewhere, Binance is in second place on the exchange list with over 2.7 billion XRP across its multiple custody wallets. Similarly, Uphold has been growing its position recently with nearly 2 billion XRP, followed by Coinbase at 780 million XRP.
Interestingly, this number for Coinbase has dropped substantially since Q2 2025. It’s likely to be strategic repositioning rather than potential regulatory caution, especially since the US Securities and Exchange Commission’s case against Ripple Labs was dropped earlier in August 2025. This gave XRP unprecedented judicial standing in the United States.
Still, Coinbase slashed holdings by 57% in a single month, while competitors continue to expand their reserves.
It is worth mentioning, though, that the exchange holdings are primarily customer assets rather than institutional trading positions. So, understanding what exchanges hold large XRP amounts can give insight into retail ownership and demand as opposed to institutional control.
Did you know? Only 100 addresses control around 68% of the total circulating supply of XRP in 2025. This gives it one of the highest concentration rates among the top market cap cryptocurrencies.
Whales accumulate record-breaking XRP
2025 has been a watershed year for XRP. It’s gone from a crypto pariah embroiled in a fight with the SEC to an asset with clear legal standing.
Momentum has been building as whales collect XRP. In June 2025, it hit another milestone where wallets holding more than 1 million XRP reached 2,708 addresses. This is the highest level in XRP’s 12-year history.
Each of these whale wallets contains over $2 million worth of XRP at 2025 prices. It reflects institutional confidence in the asset, with the XRP Ledger daily active addresses climbing to 295,000 in June 2025.
This is an activity spike, which indicates interest from both retail and institutions. It’s a jump of nearly seven times the trailing three-month average of 35,000-40,000 active addresses.
XRPScan can give you a peek into the rich list, with the top wallets held by Ripple holding 5 billion XRP in escrow. Outside of these, you can see notable rich list wallets are linked to known global exchanges, with only two anonymous trader wallets making their place in the top 20.
What’s clear from the XRP rich list 2025 is the revelation of highly concentrated ownership.
Ripple Labs dominates at every metric, including Larsen, whose stake totals over $8 billion of XRP holdings.
It raises valid decentralization concerns, especially when combined with record-breaking whale accumulation and growth in institutional wallets. That said, the legal clarity that has emerged following a five-year lawsuit is fueling increased confidence in the asset among institutional investors.
Exchanges, too, are accumulating funds at historic levels, with customer custody deposits swelling these numbers on the rich list. It’s a metric that suggests token ownership is still of interest to retail investors despite concerns.
