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Today, we are excited to share a new article about XRP's Resilience!. Be sure to follow Bitrue's Official Twitter and Telegram to stay updated!
Introduction
The journey of Ripple's XRP has been a rollercoaster, embroiled in a long-standing legal battle with the SEC. However, despite regulatory challenges, XRP remains buoyant, witnessing robust investor interest. Notably, on-chain data reveals a noteworthy concentration of holdings among top XRP addresses, reflecting the currency's resilience amidst adversity.
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Top 10 Holders Control 11% of XRP
As of December 25, over 59 billion XRP coins were in circulation, boasting a market value of approximately $34.44 billion. Data from XRP Scan unveils that the top 10 addresses, constituting the wealthiest XRP holders, wield control over roughly 11% of all existing XRP coins, amounting to a value surpassing $4 billion based on market valuation. Moreover, these top 50 addresses command more than 26.24% of XRP's total circulation value, exceeding $10 billion.
Top 10 XRP Holders by Percentage
The lion's share of XRP holdings is attributed to Ripple, Executive Chairman Chris Larsen, and CEO Brad Garlinghouse, both exonerated from SEC charges in October. Additionally, significant reserves of XRP are held by prominent cryptocurrency exchanges like Binance, Kraken, Uphold, and Bitbank.
An overview of the top ten XRP addresses for 2023 reveals intriguing insights:
Analyzing the table, the largest XRP holding address, owning around 1.96 billion XRP, is linked to Ripple. Similarly, the second-largest address also appears associated with Ripple.
Conversely, the XRP holdings of centralized exchanges like Binance are often perceived as customer deposits in reserves. For instance, the top 10 addresses on the BNB Chain account for 168 million XRP.
The XRP supply is capped at 100 billion units. During Ripple's nascent phase, co-founders Chris Larsen, Jed McCaleb, and Arthur Brito received 20 billion XRP. Although Jed divested his XRP in 2014, Larsen and Brito reportedly retain most of their XRP holdings.
Chris Larsen, recognized as one of the most significant XRP holders, possesses over 5 billion coins across at least five addresses. Ripple CEO Brad Garlinghouse also holds a substantial XRP amount, although the precise quantity remains undisclosed.
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