XRPScan, a prominent XRP explorer, has implemented a crucial modification that can drive transparency within the XRP community. The platform said it has modified its “Rich List” feature, which can enable any member of the community to properly profile wallet engagements to see who has the larger holdings of XRP.
This move from XRPScan came as a response to an X user @CryptoC_James who shared with the community how rigorous it is to fish out the various Ripple-based escrow wallets. The modifications made now bring the hard-to-see wallets into the spotlight, making it easier for any community member who wants to explore such information.
Based on the current reorganization, addresses linked to blockchain payments company Ripple Labs Inc. occupy the top 12 positions of the largest XRP holders. The first six of these addresses have a total of 5,000,000,000 XRP each locked in escrow. Four of the wallets also have different amounts in escrow ranging from 2,000,000,000 XRP to 3,500,000,000 XRP, respectively.
Ripple also has wallets with massive XRP balances that are not held in escrow. The two wallets in this category include one with 1,960,027,032 XRP and the less funded one with 1,541,294,080 XRP.
XRP whales are mostly exchanges
While Ripple Labs dominates the XRP holding scene, the modified “Rich List” by XRPScan shows the majority of XRP whales are trading platforms where the coin is traded. Following Ripple on the Rich List is Binance with a total of 1,477,168,712 XRP, while Ripple’s biggest ally, Uphold’s biggest wallet holds approximately 1,372,766,274 XRP.
Kraken, UPbit, bitbank, Coincheck and Bithumb are among the top trading firms that hold XRP to date. The latest securities ruling from Judge Analisa Torres and the bouts of legal wins scored by Ripple against the SEC have repositioned the positive luster of XRP and boosted its attractiveness among these exchanges, many of which relisted it recently.
Read the full article here