XRP Holdings: Does Ripple Really Control 48 Billion Tokens?

XRP continues to raise questions among crypto enthusiasts, especially regarding Ripple’s significant token holdings and their impact on the ecosystem. Recent discussions have reignited debates about the extent of Ripple Labs’ control over XRP, particularly the massive amount allegedly under its ownership.

Ripple Labs, recognized as one of the pioneers in the crypto space, has maintained a central role in XRP’s development and ecosystem. However, scrutiny over the company’s motivations in managing its XRP reserves has been ongoing for years. The latest round of questions centers around whether Ripple is truly holding over 48 billion XRP and how it can influence the broader market.

Fueling this controversy was a claim by a user on X (formerly Twitter), who shared: “All the XRP listed is owned by Ripple, thus the total should be the sum of the two numbers. Total XRP owned by Ripple: 48,306,585,931.” This statement suggests that Ripple has ongoing access to nearly half of the XRP supply — a figure that equates to billions of dollars in value.

These tokens, according to the assertion, are partly used to support Ripple’s operational needs, with the company reportedly releasing and selling portions on a monthly basis. Such a strategy, while not uncommon in the industry, often draws criticism from those who fear it causes downward pressure on XRP’s market integrity.

In response to these allegations, Ripple’s Chief Technology Officer, David Schwartz, offered some clarity. He emphasized the function of XRP Ledger’s native escrow feature, stating: “This would be correct if you don’t think the XRPL escrow feature is actually escrow. Funds in an escrow are not held by the party who put them into escrow.”

Backing up this point, Ripple’s senior software engineer, Mayuka Vadari, elaborated that although Ripple is named as the beneficiary, the key distinction lies in the technical and legal framework of the escrow mechanism. “Technically (and legally), the escrow funds are temporarily being held by the network, not Ripple. Yes, those funds will ultimately go back to Ripple, but for the time being, there’s nothing Ripple can do to access those funds (or do anything with them) before the unlock time,” she explained.

Despite such clarifications, critics argue that this distinction is more of a semantic technicality than an actual barrier. The fundamental reality remains: Ripple set up the escrow, Ripple is due to receive the funds under specific conditions, and history has shown that it continues to collect them as scheduled.

This setup leads to the perception that Ripple does, for all intents and purposes, effectively control a massive portion of the overall supply. The recurring unlocks from escrow often raise concerns about potential market effects — particularly if large volumes are moved or sold routinely.

Nevertheless, Ripple has previously stated its intention to maintain predictability in its escrow system and XRP’s supply. Whether that intention aligns with long-term investor confidence remains a matter of heated debate within the crypto community. The transparency of this process and how it is communicated to the public could play a central role in shaping XRP’s broader perception moving forward.

Related: Expert Advice: Sell XRP If You’re Confused

The underlying question isn’t only about ownership – it’s about trust. Whether or not Ripple maintains direct access to these funds at any given moment, the widely accepted belief is that they ultimately benefit from them. And as long as this remains the case, scrutiny from both supporters and skeptics is likely to continue.