XRP News Today: XRP Whale Activity Surges 5214 Wallets Hold Over 460829 XRP

Recent data shared on X has highlighted the distribution of wealth among XRP holders, revealing that as of June 2025, 5,214 wallets hold 460,829 XRP or more. At a market price of $2.17 per XRP, this amount exceeds $1 million, suggesting over 5,000 XRP millionaires on paper. However, the reality of wallet ownership is more complex, as some of the large XRP wallets are centralized exchange wallets with hundreds, if not thousands of buyers attached to the same wallet address.

While recent data from the XRP rich list shows a notable increase among top token holders over the past two years, it is important to note that a significant portion of these high-balance wallets are not controlled by individuals but by centralized exchanges. These wallets often hold the assets of hundreds, if not thousands of buyers, all pooled under a single address. This means the number of actual individual XRP millionaires is likely much lower than the wallet count implies.

When users deposit XRP into an exchange, their funds are assigned to one of these large wallets managed by the exchange. To differentiate individual users, the system uses destination tags or memos. This memo is likened to a hotel room number that directs the payment to the correct recipient. The difference between exchange wallets and self-custody wallets becomes important in understanding who truly controls large amounts of XRP. While exchange wallets may appear wealthy, the funds belong to multiple users.

In contrast, XRP sent to self-custody wallets requires no memo, and full control lies with the wallet owner. This distinction is vital in the context of decentralization and personal sovereignty within crypto ecosystems. XRP advocates have consistently advised community members to use self-custody wallets. While centralized exchanges offer convenience, they blur the lines of ownership, and investors can lose their funds through a collapse, such as Mt. Gox or FTX, or theft, like the recent attack on Nobitex, Iran’s largest crypto exchange.

While XRP has seen a recent surge in whale activity, wallet rankings alone are not sufficient to determine the number of true XRP millionaires, especially in a system where centralized platforms manage assets on behalf of large user bases. However, this could change as more users adopt self-custody and take full control of their assets. The complexity of wallet ownership highlights the need for a more nuanced understanding of the XRP rich list and the true distribution of wealth among XRP holders.