XRP Ownership in 2025: Ripple Labs and Key Holders Dominate the Market

XRP Ownership Landscape in 2025

Ripple Labs remains the dominant force in the XRP ecosystem, controlling roughly 42% of the total 100 billion XRP tokens in circulation. As the creator of the XRP Ledger and its native digital currency, Ripple’s holdings are divided between 4.5 billion XRP in liquid form for operational needs and 35 billion XRP locked in escrow.

Ripple employs an escrow system that releases a fixed amount of XRP—typically 1 billion tokens—monthly via a smart contract mechanism on the XRP Ledger. This controlled release aims to stabilize supply and price. The released XRP funds Ripple’s operations and liquidity for its On-Demand Liquidity (ODL) service. Notably, Ripple relocks at least 60% of these unlocked tokens monthly to avoid flooding the market, a strategy that could sustain its dominant position for years.

Chris Larsen: The Largest Individual Holder

Chris Larsen, Ripple’s co-founder and executive chairman, holds more than 2.5 billion XRP, valued at approximately $7 billion as of 2025. His holdings are spread across eight wallets, with four containing over 500 million XRP each that have never been moved since their allocation in 2013. Larsen’s wallet activity includes recent sell-offs, notably $175 million worth of XRP transferred to exchanges in July 2025 during a price surge above $3.

Despite these sales, Larsen’s XRP represents about 4.6% of the total XRP market capitalization, making him one of the wealthiest figures in the cryptocurrency space with substantial market influence.

Exchange Platforms Hold Significant XRP Reserves

Several leading cryptocurrency exchanges are among the largest XRP holders, primarily custodians of customer assets rather than proprietary trading positions. South Korea’s Upbit leads with approximately 6 billion XRP under custody, signaling strong retail and institutional demand in the region. Binance follows with over 2.7 billion XRP, Uphold holds nearly 2 billion, and Coinbase retains about 780 million XRP.

Coinbase’s XRP holdings notably decreased by 57% in one month, a move analysts interpret as strategic repositioning rather than regulatory caution, especially after the U.S. Securities and Exchange Commission dropped its case against Ripple Labs in August 2025. This legal clarity has enhanced XRP’s standing in the U.S. market.

Whale Accumulation and Market Dynamics

2025 has seen unprecedented institutional interest in XRP, with the number of whale wallets—those holding over 1 million XRP—reaching 2,708, the highest in XRP’s 12-year history. Each whale wallet holds more than $2 million worth of XRP, underscoring a surge in confidence from large investors. Daily active addresses on the XRP Ledger climbed to 295,000 in June 2025, a sevenfold increase compared to the prior months, reflecting heightened activity across retail and institutional participants.

While Ripple Labs and Larsen dominate XRP ownership, the concentration of tokens among a small number of wallets—100 addresses control around 68% of circulating XRP—raises valid concerns about decentralization. Nonetheless, the recent legal victory and institutional accumulation suggest growing trust and adoption of XRP as a digital asset.

Conclusion

The XRP rich list in 2025 reveals concentrated ownership primarily controlled by Ripple Labs, key individuals like Chris Larsen, and major exchanges. This structure provides operational flexibility but challenges decentralization principles. The legal clarity achieved following the SEC lawsuit has catalyzed institutional interest, reflected in record whale accumulation and rising active addresses on the XRP Ledger. Observing how these ownership dynamics evolve will be critical for assessing XRP’s future market behavior.