XRPScan’s Game-Changing Rich List Modification Reveals Whale Holdings

XRPScan, a leading XRP explorer, has recently introduced a crucial modification to its platform, aiming to foster transparency within the XRP community. The focal point of this enhancement lies in the platform’s “Rich List” feature, now allowing community members to gain a more comprehensive insight into wallet engagements and identify those with substantial XRP holdings.

We’ve reworked the XRP Rich List so its sorted by total beneficiary balance (balance + escrow). Hope this would bring larger accounts such as Ripple (27) out in the spotlight: https://t.co/FNRMYddB5Y https://t.co/xcGrHfO3xs pic.twitter.com/qm7DGO9wWp

— XRPScan (@xrpscan) November 17, 2023

This strategic move by XRPScan was prompted by user @CryptoC_James, who highlighted the challenges in identifying various Ripple-based escrow wallets. The recent modifications address this concern, bringing formerly elusive wallets into focus and facilitating exploration for community members interested in such information.

In the latest update, addresses affiliated with Ripple Labs Inc., a prominent blockchain payments company, dominate the top 12 positions of the largest XRP holders. The first six addresses have sizable amounts of 5,000,000,000 XRP each, securely locked in escrow. Additionally, four of these wallets hold varying escrow amounts ranging from 2,000,000,000 XRP to 3,500,000,000 XRP.

Notably, Ripple possesses wallets with substantial XRP balances not held in escrow. Among these, one wallet contains 1,960,027,032 XRP, while another, less endowed wallet, holds 1,541,294,080 XRP.

XRP whales primarily consist of exchanges

While Ripple Labs dominates the XRP holding landscape, the revamped “Rich List” by XRPScan reveals that the majority of XRP whales are associated with cryptocurrency exchanges where the coin is actively traded. Binance follows Ripple on the Rich List with a total holding of 1,477,168,712 XRP, while Uphold’s largest wallet, Ripple’s major ally, holds approximately 1,372,766,274 XRP.

Prominent exchanges such as Kraken, UPbit, bitbank, Coincheck, and Bithumb also secure top positions among XRP holders. Recent securities rulings from Judge Analisa Torres and Ripple’s legal victories against the SEC have rekindled positive sentiment around XRP, prompting several exchanges to relist the cryptocurrency in response to its enhanced appeal.