- XRP Labs controls the majority of Ripple supply with 42% ownership, split between escrow and liquid holdings.
- Chris Larsen, Ripple’s co-founder, remains the largest individual Ripple holder with over 2.5 billion XRP.
- Exchanges like Upbit, Binance, and Coinbase hold billions in customer deposits, shaping XRP’s retail and trading activity.
- Whales holding over 1M Ripple reached 2,708 addresses in 2025, signaling growing institutional and retail confidence.
- Despite decentralization concerns, XRP’s legal clarity post-SEC lawsuit is fueling fresh demand.
Ripple’s Dominance in XRP Supply
In 2025, Ripple Labs remains the largest Ripple holder, controlling around 42% of the 100 billion total supply. This includes:
- 4.5 billion XRP in liquid holdings for operational use.
- 35 billion XRP locked in escrow, released monthly via smart contracts.
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Ripple’s escrow release mechanism ensures predictable supply management, releasing 1 billion XRP per month. However, the company relocks over 60% of these funds, preventing sudden oversupply. Without relocking, Ripple’s stash could be depleted in three years, but the current strategy ensures Ripple’s dominance in the XRP rich list for years to come.
This control provides stability and flexibility, but also raises concerns about centralization, as Ripple’s 42% stake gives it major influence over market dynamics.
Chris Larsen: The Largest Individual XRP Holder
Ripple’s co-founder and chairman, Chris Larsen, is the wealthiest individual Ripple holder. As of 2025, he owns over 2.5 billion XRP, worth approximately $7–8 billion.
- His holdings are spread across eight wallets, with several wallets untouched since 2013.
- In July 2025, Larsen sold $175 million worth of Ripple as prices hit seven-year highs above $3.
- Larsen’s remaining stake still represents 4.6% of XRP’s total market cap, giving him immense market influence.
According to blockchain investigator ZachXBT, wallets linked to Larsen still hold around 2.81 billion Ripple ($8.4B).
XRP Exchange Powerhouses
Exchanges play a key role in XRP’s ownership concentration. Their holdings mostly represent customer deposits, not direct institutional stakes.
- Upbit leads with 6 billion Ripple, reflecting strong Korean retail demand.
- Binance follows with 2.7 billion XRP across custody wallets.
- Uphold is growing fast with nearly 2 billion Ripple.
- Coinbase, once a major holder, has reduced its reserves by 57% in mid-2025, now sitting at 780 million XRP.
Despite Coinbase’s reduction, exchange holdings overall highlight retail investor interest and liquidity.
Whales and Institutional Accumulation
2025 has been a watershed year for Ripple. With legal clarity following the SEC case, whales and institutions are piling in.
- 2,708 wallets now hold over 1 million XRP each — a record high.
- Daily active addresses surged to 295,000 in June 2025, nearly 7x the previous average.
- Whale accumulation reflects institutional confidence, especially with XRP’s role in cross-border payments via On-Demand Liquidity (ODL).
However, XRP remains highly concentrated, with just 100 addresses controlling 68% of supply.
The 2025 XRP Rich List: Concentration vs Growth
The Ripple rich list reveals a highly concentrated ownership structure:
- Ripple Labs dominates with escrow and liquid holdings.
- Chris Larsen stands as the largest individual holder.
- Exchanges hold billions in customer assets, shaping retail demand.
- Whales and institutions are steadily growing their presence.
While this raises decentralization concerns, XRP’s clear legal standing, rising adoption, and whale accumulation are reinforcing investor confidence.