XRP Ledger Records New All-Time High, But in Whale Wallets

The XRP Ledger reached a new on-chain milestone when the number of wallets holding at least 10,000 XRP reached 332,230 on May 12, 2026. The figure marked a record high for mid and large XRP holders, while accumulation remained steady since mid-2024 despite periods of market volatility.

Network data showed that larger holders increased gradually despite uneven conditions in the broader crypto market across several digital assets. The pattern may point to a tightening of the liquid supply structure rather than to short-term speculative positioning across the XRP ecosystem.

XRP Holdings Concentration and Escrow Flow

Distribution data highlighted strong XRP concentration among a small group of accounts linked to Ripple and custodial platforms. Several Ripple-controlled wallets hold more than 5 billion XRP each in escrow arrangements while maintaining relatively low on-ledger circulating balances.

Exchange and custodial accounts also rank among the network’s largest holders, with wallets linked to platforms such as Bithumb holding billions of XRP. Together, these holdings reflect how Ripple’s escrow release structure continues to shape supply conditions through predictable monthly distributions.

Activity, Flows, and Market Overview

Activity on the XRP Ledger remained elevated during recent observation periods, with the total number of activated accounts approaching 8 million. Daily active users periodically exceeded 200,000, while transaction counts fluctuated between roughly 2 million and 4 million per day. Activity also peaked above 5 million transactions in April.

Notably, payment activity continued to account for most network usage while decentralized finance participation also expanded across other sectors. Automated market maker pools exceeded 29,000 as tokenization and Ripple’s RLUSD stablecoin activity added to overall network usage.

Institutional participation also strengthened during recent months as U.S. spot XRP exchange-traded funds recorded notable inflows across regulated financial products. Cumulative inflows neared $1.3 billion while custody balances linked to institutional channels continued to expand.

As of writing, XRP traded between $1.40 and $1.47. The token was down about 1% over the past 24 hours and up nearly 9% over the last 30 days. Broader sentiment across digital asset markets remained influenced by macroeconomic and liquidity conditions.