Concentration of XRP ownership in 2025: Ripple, exchanges and whales
In 2025, ownership of XRP remains highly concentrated among Ripple Labs, major exchanges, and a small number of large holders—often called “whales”. This concentration plays a significant role in the token’s liquidity, price volatility, and overall perception of decentralization.
Ownership structure in 2025
Ripple Labs continues to control a substantial share of XRP through scheduled escrow releases, managing tens of billions of tokens to provide predictable market supply. Meanwhile, exchanges like Binance, Bithumb, and Uphold hold billions more on behalf of users, centralizing much of the liquid supply. A limited number of private wallets also hold large amounts, capable of influencing the market with single transactions.
Main holders and their roles
Key players include:
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Ripple: Manages escrowed XRP and periodic releases.
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Exchanges: Custodize user funds, affecting daily trading liquidity.
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Institutional partners: Entities like SBI use XRP in payments and loyalty programs.
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Whales: A small group with oversized holdings that can sway prices with large moves.
Distribution, risk indicators and market effects
XRP distribution remains highly uneven. On-chain data shows that roughly 99% of accounts hold fewer than 10,000 XRP, while the top 1% control vast amounts. This imbalance increases systemic risk large sales or transfers by a few holders can trigger significant price swings.
XRP’s market structure is still shaped by a concentrated group of holders-Ripple, exchanges, and whales. While this supports certain operational efficiencies, it also poses challenges for decentralization and price stability. Encouraging broader distribution and self-custody could help align XRP’s use with the original ideals of financial sovereignty and open access.
