An unidentified XRP holder has accumulated one of the largest single balances on the ledger, renewing scrutiny of token distribution. The wallet rJ9Ey7H now contains about 1.80 billion XRP — roughly 1.8% of the 100 billion maximum supply and nearly 3% of the 61.8 billion circulating supply. At an XRP price near $1.41, that balance is worth approximately $2.53 billion.
Crypto analyst Xaif Crypto notes the top four XRP wallets together control almost 7% of the total supply. Some of those large addresses belong to known exchanges, including Bithumb, Binance and Uphold, but the second-largest holder, rJ9Ey7H, remains anonymous. The largest wallet, attributed to Bithumb, holds about 1.82 billion XRP (around $2.56 billion), only about 25 million XRP more than rJ9Ey7H.
On-chain records show rJ9Ey7H was first activated on December 1, 2024, with an initial 10 XRP transfer from address rLD5k3 before building its present balance. Transaction links trace the activating address back to rMJXDz, an address that has appeared in activity tied to Robinhood, though there is no definitive evidence directly connecting the large whale to that platform.
The wallet is active but understated, and its owner remains unknown. Social-media speculation ranges from institutional investors to firms like BlackRock or government-linked actors, but none of these theories are confirmed. The concentrated holding underscores ongoing questions about ownership concentration, potential market influence and liquidity dynamics within the XRP ecosystem.