XRP Wallet Panorama: Among over 7.5 million addresses, how many holders truly influence the market?

According to Gate market data, the circulating supply of XRP is approximately 57.64 billion, with a total supply of 100 billion. The current price of XRP is $1.9, with a market capitalization of $116.35B and a market share of 6.03%.

On-chain data shows that the number of wallets holding at least 10,000 XRP has reached 317,500, setting a new all-time high. This threshold means each wallet holds at least $20,000 worth of XRP assets, excluding most retail investors.

Macro Perspective of XRP Wallets

Based on the latest on-chain data, the total number of XRP wallets has surpassed 7.5 million. This figure reflects the broad coverage of the XRP network and the growth trend of its user base. However, a detailed analysis of wallet balance distribution reveals a clear concentration phenomenon. Over 5 million wallets hold less than 1,000 XRP.

Specifically, about 2.734 million wallets hold only 0 to 20 XRP, accounting for 42.2% of all XRP wallets. These “micro wallets” were mostly created by early users when the XRP Ledger required each address to hold at least 20 XRP as a reserve.

As the reserve requirement decreased to just 1 XRP, nearly 600,000 wallets, each containing exactly 10 XRP, have been abandoned. These dormant wallets account for about 8.5% of all XRPL addresses. While they increase the total number of wallets, their actual held value within the ecosystem is minimal.

Extreme Concentration of Wealth Distribution

The XRP holding structure exhibits a clear pyramid shape. Despite millions of wallets existing, the actual wealth is concentrated in a very small number of addresses. Recent data shows that just the top 10 addresses control about 18.56% of the circulating XRP. When expanding the scope to the top 50 addresses, this figure jumps to between 43% and 50%.

Specifically, addresses ranked 11th to 50th control an additional 24.85% of the supply. This means that only 50 addresses actually control over 43% of the circulating XRP. Such levels of concentration are particularly prominent in the crypto market. In comparison, the top 100 wallets even hold over 70% of the XRP supply.

Whale and Institutional Holdings Analysis

Among the top XRP holders, institutions dominate. Ripple Labs, the company behind XRP, controls about 42% of the total supply through custodial accounts. Ripple locks billions of XRP in escrow contracts to manage predictable releases. Including escrow wallets, seven of the top ten XRP wallets belong to Ripple. Ripple-related addresses hold approximately 45 billion escrowed XRP and about 1 billion freely circulating XRP.

Apart from Ripple, centralized exchanges are among the largest XRP holders. These exchange wallets hold customer deposits, not their own assets. For example, one Gate wallet holds over 1.3 billion XRP, about 1.33% of the circulating supply. Notably, although the number of wallets holding at least 100 million XRP decreased by 20.6% over eight weeks, these remaining large wallets now hold a total of 48 billion XRP, reaching a seven-year high in concentration.

Rising Medium Holders and Retail Investors

Contrasting with the top whales, the number of medium-sized holders is increasing. Currently, about 317,500 wallets hold at least 10,000 XRP. At the current price, this means each wallet holds assets worth at least approximately $20,000.

Meanwhile, on-chain data shows that over the past 48 hours, more than 25,000 wallets have moved into higher balance brackets. This pattern is usually associated with accumulation phases rather than distribution phases, indicating multiple categories of holders are increasing their XRP holdings.

Data also shows that about 500,000 wallets hold at least 1,000 XRP, representing an important participant group within the XRP ecosystem. The increase in these medium-sized holders suggests confidence in XRP is not limited to a few large players but is distributed across multiple wallet categories.

On-Chain Dynamics and Market Impact

XRP’s on-chain activity reveals some interesting trends. On one hand, XRP reserves on exchanges are decreasing. From January 2025 to mid-January 2026, major exchanges’ XRP reserves decreased by about 45%. This trend indicates that more XRP is being transferred from exchanges to private wallets for long-term custody. When assets move from exchanges to private custody, the supply structure available for new demand also changes.

Meanwhile, large transaction activity has increased. In January 2026, whale transactions reached a three-month high, with large transactions (over $100,000) surging 29% within 24 hours. The coexistence of decreasing exchange reserves and increased whale activity often signals a shift in market structure. When XRP on exchanges decreases, immediate seller supply becomes scarcer, which may alter how the market responds when buyers step in.

Price Performance and Future Outlook

According to Gate market data, as of January 23, 2026, XRP’s price is $1.9, with a change of -2.31% in the past 24 hours. Over a longer timeframe, XRP has declined by -7.48% over the past 7 days but has increased by +3.79% over the past 30 days.

Contrary to many expectations, despite changes in on-chain activity and holding structure, XRP’s price remains mainly within a range of fluctuations. This divergence between active on-chain activity and stagnant price is common in markets awaiting clear catalysts. Analysts have differing views on XRP’s future price. Conservative forecasts suggest that by 2026, XRP could be between $2.50 and $3.20. More optimistic predictions project it could reach $5 to $10 by 2030. Notably, the $2.75 level remains a key resistance; breaking through this could trigger sustained momentum toward $3.00.

How to Query XRP Wallet Data

For users interested in exploring XRP wallet distribution in depth, real-time data can be accessed via the official XRP Ledger explorer. This tool allows anyone to view on-chain data without registration, including account balances and transaction history.

Additionally, platforms like Gate provide rich market data and in-depth analysis to help investors make informed decisions. By combining on-chain data with trading platform analysis tools, users can gain a more comprehensive understanding of XRP market dynamics.

Among over 6 million wallets on the XRP Ledger, only 712 accounts hold more than 0.01% of the total holdings, each possessing over 55 million XRP. This extreme concentration reveals the harsh distribution reality of the digital financial world. Meanwhile, a growing group of medium-sized holders quietly accumulates at least 10,000 XRP, each holding assets worth about $20,000. These wallets act like capillaries in the XRP ecosystem—individually limited in influence but collectively maintaining network vitality and stability. On the Gate trading platform, XRP’s deep liquidity and real-time data provide a transparent window. Behind price fluctuations are ongoing tensions between whales and retail investors, centralized and decentralized forces.