These top XRP addresses belong to Ripple, Binance and UpHold.
XRP has persistently taken center stage in the cryptocurrency scene in recent times, especially due to the legal pressure mounted on it from the Ripple vs. SEC lawsuit. Despite this pressure, the asset remains one of the most widely-held crypto tokens, with a total of 4.5 million active accounts.
From a maximum supply of 100 billion tokens, XRP now has 43.4 billion tokens locked in escrow, with 10.8 million tokens burned, per data from XRPScan. The asset currently has a circulating supply of 56.3 billion tokens, with its top 5 addresses holding an excess of 7.4 billion coins ($3.35 billion). This represents 13.1% of the circulating supply.
Being the issuer of XRP, Ripple is the single largest holder of the asset. The Silicon Valley firm controls the first two addresses on the XRP rich list. These addresses cumulatively hold a whopping 3.7 billion XRP valued at $1.68 billion.
These two are the only addresses owned by Ripple which hold billions of XRP tokens. While the California-based company controls other XRP addresses, these other addresses hold millions of tokens, with some coins held in escrow. David Schwartz, CTO at Ripple, recently confirmed that the company periodically sells off its XRP to reduce the amount it holds.
As the world’s largest exchange, Binance also owns two addresses on the top 5 list of richest XRP addresses. The exchange’s holdings represent customer balances. Binance’s two largest addresses hold a total of 2.3 billion XRP worth $1.05 billion.
Binance’s Proof of Reserves (PoR) report revealed that the exchange held a total of 2.72 billion XRP tokens as of March 7. This value represented 105.25% of the total customer balance on the platform which stood at 2.58 billion tokens. XRP is one of the most widely-held assets on Binance.
UpHold, a prominent New York-based trading platform, has continued to offer trading services for XRP despite the U.S. SEC’s litigation against Ripple which prompted several American-based exchanges such as Coinbase to suspend support for the asset.
Being one of the few prominent American-based platforms to support XRP, UpHold has seen an influx of American XRP investors. The platform has the fourth richest XRP address which contains customer balances. The address holds 1.38 billion XRP ($622 million). UpHold’s PoR reveals that the exchange holds a total of 2.09 billion XRP ($943.5 million).
XRP Holds Above $0.45
Meanwhile, XRP has faced a downturn triggered by the market-wide bearish storm. The asset has shed 15% of its value in the past three days, plummeting from $0.53 to its current price of $0.4512. XRP is down 4.33%, but the latest downtrend is prevalent within the entire crypto market.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.