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The native cryptocurrency of the payment network Ripple, XRP, has been making headlines almost since the project began in 2012.
Ripple seems to have overcome most of the Securities and Exchange Commission (SEC) troubles and is moving forward with new goals, such as a native stablecoin.
But with any crypto project, it is important to know how centralized or decentralized the coin holders are.
So, let’s explore who holds the most XRP, accurate as of October 2024.
Key Takeaways:
- Knowing who the biggest XRP token holders are could help future XRP investors understand the token’s potential price movements.
- The top 10 XRP holders collectively own over 39% of the total token supply, and the top 100 hold more than 72% as of October 2024.
- Ripple’s legal battle with the SEC had an influence on XRP’s price in the early days of the lawsuit. However, the positive outcome in July 2023 led to a swift recovery, with institutional investors gaining interest in the cryptocurrency once again.
- Experts suggest that regulatory clarity, positive developments, and decentralized ownership structures could encourage broader participation in XRP.
Top 10 XRP Holders
Cryptocurrency whales can exercise a lot of power over the digital assets market because they hold significant values of a certain token.
Their trading activities, for example, can lead to significant price fluctuations by either selling a big portion of their holdings or buying even more, which could force a certain cryptocurrency to either drop or surge in value.
What does the concentration of XRP ownership look like in 2024, and who owns the most XRP tokens?
The total number of Ripple tokens in circulation exceeds 56.7 billion coins as of October 18, 2024, according to data published on CoinMarketCap.
As of the same date, XRPScan’s data suggests there were 5,232,469 active XRP wallets.
| Wallet Address | Wallet Name | Balance (XRP) | Value ($) (October 2024) | % |
| rB3WNZc45gxzW31zxfXdkx8HusAhoqscPn | Ripple11 | 5,000,000,222 | $2,750,000,122.10 | 5.00% |
| r9UUEXn3cx2seufBkDa8F86usfjWM6HiYp | Ripple10 | 5,000,000,220 | $2,750,000,121.00 | 5.00% |
| r9NpyVfLfUG8hatuCCHKzosyDtKnBdsEN3 | Ripple9 | 5,000,000,204 | $2,750,000,112.20 | 5.00% |
| rMhkqz3DeU7GUUJKGZofusbrTwZe6bDyb1 | Ripple28 | 5,000,000,202 | $2,750,000,111.10 | 5.00% |
| rGKHDyj4L6pc7DzRB6LWCR4YfZfzXj2Bdh | Ripple26 | 5,000,000,201 | $2,750,000,110.55 | 5.00% |
| rHGfmgv54kpc3QCZGRXEQKUhLPndbasbQr | Ripple27 | 5,000,000,200 | $2,750,000,110.00 | 5.00% |
| rDdXiA3M4mYTQ4cFpWkVXfc2UaAXCFWeCK | Unknown | 3,000,000,201 | $1,650,000,110.55 | 3.00% |
| rKDvgGUsNPZxsgmoemfrgXPS2Not4co2op | Unknown | 2,700,000,201 | $1,485,000,110.55 | 2.70% |
| rw2hzLZgiQ9q62KCuaTWuFHWfiX7JWg3wY | Ripple24 | 2,000,000,258 | $1,100,000,141.90 | 2.00% |
| rDqGA2GfveHypDguQ1KXrJzYymFZmKxEsF | Ripple25 | 2,000,000,200 | $1,100,000,110.00 | 2.00% |
So, who has the most Ripple tokens?
The top 10 Ripple token holders hold over 39% of the total token supply, and the top 100 wallet holders hold over 72%.
All of the wallets named RippleX are linked to Ripple itself, which can lead to centralization fears.
Most wallet addresses in the top 100 Ripple billionaires and millionaires list are linked to a number of prominent exchanges, including Ripple itself, Binance, Uphold, and Kraken.
As Dmitry Mishunin, the CEO of HashEx Blockchain Security, said:
“A high concentration of XRP ownership suggests that a small number of investors hold a significant portion of the currency. This situation can lead to price manipulation and increased volatility, potentially deterring broader investment due to perceived centralization and lack of market fairness.”
Who Owns the Most XRP: Are Institutional Investors Still Top XRP Holders?
While some institutional investors started exercising caution when investing in cryptocurrency following the Ripple vs. SEC lawsuit, other firms continued investing in the token.
The Dubai Financial Services Authority (DFSA) approved XRP at the start of November 2023, allowing firms in the Dubai International Financial Centre (DIFC) to incorporate the cryptocurrency into their virtual assets services.
In a press release, Ripple announced:
“Since the DFSA opened up external applications, XRP is the first virtual asset to be approved by the regime. XRP joins BTC, ETH and LTC as the assets previously approved under the DFSA’s virtual assets regime. XRP now stands to benefit from legal and regulatory clarity in the DIFC, and will be available for use by institutions located in the DIFC to accelerate faster, more efficient global value exchange.”
Moreover, Ripple’s acquisition of Standard Custody & Trust Company is poised to significantly boost the institutional adoption of XRP. This strategic decision is likely to enhance XRP’s credibility and attractiveness among institutional investors.
🚀 Big News! #Ripple acquires Standard Custody & Trust, elevating our game in enterprise blockchain solutions! ✨ More licenses, more compliance, more innovation. Ready to revolutionize global finance with secure, cutting-edge tech. 🌐 #BlockchainRevolution #CryptoGrowth #XRP… pic.twitter.com/xFukUYIjae
— Collin Brown (@CollinBrownXRP) March 6, 2024
Similar to institutional investors, celebrity endorsements can also play a key role in determining the biggest XRP holders.
“Celebrity endorsements can temporarily boost XRP’s visibility and attract new investors, potentially increasing demand and price. However, the long-term impact on ownership is contingent on ongoing market and regulatory developments rather than short-lived endorsements,” Mishunin said.
XRP was previously endorsed by several celebrities, including Ashton Kutcher and Guy Oseary, who donated $4 million worth of XRP to the Ellen DeGeneres Wildlife Fund in 2018. That same year, Ripple also partnered with Madonna to raise funds for orphans in Malawi.
The Bottom Line
As Mishunin told Techopedia:
“Positive developments and regulatory clarity could encourage a more widespread and decentralized ownership structure,”
He added that the distribution of XRP ownership over time could evolve based on several factors, including changes in the market sentiment, further developments in Ripple’s business strategy, and shifts in the regulatory landscape.
