A large, unidentified XRP holder is drawing renewed attention to the token’s distribution after accumulating one of the biggest single balances on the ledger. The wallet address rJ9Ey7H currently holds 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 approximate XRP price of $1.41, that stake is valued near $2.53 billion.
Analyst Xaif Crypto highlighted that the top four XRP wallets together control nearly 7% of the total supply, and while some of those top addresses belong to known exchanges such as Bithumb, Binance and Uphold, the second-largest holder remains anonymous. The largest wallet, Bithumb, holds about 1.82 billion XRP (roughly $2.56 billion), only about 25 million XRP more than rJ9Ey7H.
Blockchain records show rJ9Ey7H was first activated on December 1, 2024, with an initial 10 XRP transfer from rLD5k3 before building its current balance. Transaction history links the activating address back to rMJXDz, an address that has been associated with activity involving Robinhood, but there is no definitive evidence directly tying the large whale to Robinhood.
The wallet appears active yet quiet, and its true owner is unknown. Speculation on social media has ranged from institutional investors to entities such as BlackRock or government-linked actors, but none of these theories are confirmed. The presence of such a concentrated holding highlights ongoing questions about ownership concentration, market influence and liquidity within the XRP ecosystem.