XRPL Insights

On-chain investigations, analysis, live trackers and developer guides for the XRP Ledger.

Investigation

Yellow on the XRPL: A Corporate Token Launched Like a Meme Coin

Yellow is a funded company, and the 500 million YELLOW it put on the XRP Ledger are backed one for one by tokens locked on Ethereum. Its XRPL launch still ran like a meme coin launch: a pool holding 0.018% of the supply, a wallet set up from Yellow's own selling before the launch was announced, a copycat YELLOW with a lookalike logo trending the day before, and a bridge that only Yellow can cross. The wallets and what they took, the price gap with Ethereum, Yellow's own words against the ledger, what XRPL users said on X, and our view.

On-Chain

Where Aviva Investors' Tokenized Funds Sit on the XRP Ledger

Aviva Investors' two tokenized money market fund share classes, US dollar and sterling, are issued by one XRP Ledger account. Three wallets hold every unit: 50,000,000 of each fund sit in one wallet each, in line with the £50m and about $50m in Ripple's press release. Holders must be approved by the issuer, units cannot be traded or passed between holders, and the issuer can take them back.

On-Chain

Xaman Users Have Paid 1.78 Million XRP in Service Fees

Every trade in the Xaman wallet is followed by a second payment from the same wallet: 0.8% of the trade's value in XRP, sent to Xaman. Since the fee began on 23 January 2025, 105,323 accounts have paid 1,779,177 XRP in 2,122,439 payments. Every fee on the ledger matched to the transaction it was charged on, the schedule Xaman published against what it charged, and the 0.09 XRP minimum that ended in August 2026.

Original research

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Investigation

Where Bitget's Stolen 103 Million XRP Went

On 24 September 2026, 102,976,680 XRP left two Bitget wallets for a brand-new address. It was split between five wallets the same evening, spread over 185 more, and within three days 99.6% had been swapped to other blockchains through THORChain, nine tenths of it into Bitcoin. The route, the timeline, and the 191 wallets now on our scam list.

Analysis

1,500 Payments a Second on the XRP Ledger Testnet

Half an hour of the XRP Ledger Testnet at full load: how many payments a second actually succeeded, how many were refused or expired before reaching a ledger, and what happened at 2,000 a second.

Analysis

Where the XRP Ledger Runs Out of Room

The XRP Ledger Testnet stalled at 2,000 payments a second. The rippled source shows the six places work waits — dropped relays, voting on disputes, one lock around the open ledger, a close that stops everything else — and what would raise the limit.

Investigation

The D'CENT Drain, Day by Day: 12.7 Million XRP, Six Waves, One List of Keys

The 15 September sweep of 1,682 XRP Ledger wallets was the first wave of six, and the same keys were still in use on 7 October. Read to the second: one script whose first batch got the reserve arithmetic wrong, the richest wallets moved by hand, five more waves through 20 September, then new collectors and deletion sinks, and from 27 September five more accounts using the same keys: 12,516 wallets and 12.7 million XRP in all, 12,165 accounts deleted with their owners' keys, and 7.0 million XRP swapped to Ethereum through THORChain. What the ledger proves, what it cannot, and what our own detection caught.

Investigation

Inside D'CENT's App Wallet: a Website and a Blind Signer

D'CENT is known for its hardware wallets. Its phone app also carries a software App Wallet, and D'CENT has warned users of abnormal transfers limited to it. The shipped Android build, verified as Google Play's own and decompiled: the App Wallet's screen is a web page served from D'CENT's site, the page reaches the signer over a bridge with no origin check, and the signer approves any hash it is sent after a PIN, with no native display of destination or amount. The in-app dApp browser opens the same signer to any site and runs a remotely fetched, unsigned engine. Its optional social backup sends the recovery phrase to Wepin, a service IoTrust itself runs, which holds the key that opens it. What the app proves, what it cannot, and the four changes that would break the chain.

Investigation

Trensik Is One Operator Trading With Itself

Trensik sells “verified RWAs” on the XRP Ledger: 13 private companies, 39 synthetic stocks, 30 Japanese shares. In 86 of its 94 markets one wallet made over 90% of every trade, 50 of its holders were created within an hour of the launch post, the company websites sit on one server registered days before their tokens, and the server behind its stock issuer holds trensik.com’s certificate. The dollar it prices everything in has taken in 36,783 RLUSD; DefiLlama counts it at $105M. A second storefront, DexDad, sells the same list on Uniswap’s interface. No name, company or address anywhere.

Investigation

Volta Wallet's Recovery Phrase Is Made on Its Server

Volta Wallet, by XRPayNet, is sold on Google Play and the App Store with the promise 'your private keys stay with you'. Its Android build 5.0.5, decompiled: the app asks XRPayNet's server for the recovery phrase, posts it back in plain JSON, and sends it again inside every transaction it confirms. Not one line of key-derivation or signing code exists on the phone; even the addresses come from the server. On the XRP Ledger, the wallet XRPayNet's own domain file names as the app's has activated 226 accounts that hold 67,520 XRP today. Every finding with its location in the code, and what would fix it.

Investigation

The XRPH Wallet Hack: 4,011 Wallets Emptied, and Every Key Was Guessable

On 3 September 2026 an address created 31 minutes earlier received the whole balance of 4,010 XRPH Wallet users: 267,664 XRP and 23.2M XRPH, biggest wallet first, 90% of it inside half an hour. The XRPH was sold on XPMarket while the sweep was still running (price down 91%), and 311,613 XRP left through two fresh hops into NEAR Intents. XRP Healthcare confirms the count and puts the loss at about $452,000, now sitting as DAI on Ethereum. Minute-by-minute timeline, every transaction hash, who the victims were, and why a single-sweep detector cannot see this shape. Then the cause: the app built every wallet's key from Math.random() and passed it to the key generator as text, collapsing the keyspace to about 2^46 so every key it ever made can be rebuilt offline.

On-Chain

546 NFTs, Provably Fair: Verify the Bored Apes XRP Club Fairdrop

546 NFTs went to 294 of 1,767 holders, proportional to holdings — the amounts are exact integer math with zero randomness. The only random step, which ape goes to whom, was seeded by SHA-256 of ledger 106676929's hash, committed to on-chain 72 ledgers before that ledger existed. Every hash, both commitment memos, the exact preimage strings, and a one-command verifier that re-derives all 546 transfers byte-for-byte.

Analysis

The Nine XRPL Addresses Behind FXRP

FXRP is XRP locked on the XRP Ledger so a copy can be used on Flare. The lock-up sits in exactly nine addresses — all nine returned by a Flare contract call, not curated by us. Read at one ledger they hold 148,259,398 XRP against 148,161,053 FXRP, covering with 98,345 XRP to spare. But 94.4% of that reserve is invisible to a balance check: 140M XRP sits in fourteen 10M escrows on the Core Vault, expiring one a day for fourteen days. Miss them and the reserve reads as 5.6% backed.

Analysis

Buying $100,000 of XRP on Solana vs the XRP Ledger

A viral post says it's cheaper to buy XRP on a Solana DEX than on XRPL's native AMM. $100,000 priced on both the same afternoon, with screenshots: the claim is half right, and the wrong comparison.

Analysis

How Much XRP Token Creators Have Cashed Out

A destination tag identifies one account at an exchange, so creator cash-outs are on the public ledger. Across 15,982 token flow graphs, 708 creators sent 7.24M XRP to exchange deposit tags — median 200 XRP each. Full venue breakdown including ChangeNOW, FixedFloat, SimpleSwap and SideShift, plus the three exclusions that cut the raw 1.89B total by 99.6%: recipient deposits, 189 "creators" that are themselves exchanges, and 6 swap/bridge wallets moving 66M XRP.

Live trackers & market data

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Live Data

XRPL Bridge Premium Tracker - Cross-Chain Arbitrage Monitor

Live gap between Axelar-bridged tokens on the XRPL DEX and their real source-chain price, read on-chain. A large premium is the leading signal of a cross-chain arb dump — the pattern behind the SOIL +11x pump and crash.

Market Data

XRPL NFT Rarity Checker & Analytics

How NFT rarity is ranked, the four ways to score it with a worked example, and the collection figures worth checking.

Live Data

XRPL NFT Sales Volume & Market Stats

The XRP Ledger NFT market, live: sales week by week this year, all-time totals, the most traded collections today, and what a sale pays in royalties and fees.

Market Data

XRP News Aggregator & AI Sentiment Analysis

XRP news from over a hundred sources, each story labelled bullish, bearish or neutral: how the tone has moved and which sources lean bullish, live.

Market Data

XRPL Meme Coins - Live Prices & Rankings

The XRP Ledger’s meme coins, live: the most traded today with their holders and moves, how much of the market they are, and how to tell one worth a look from a trap.

Market Data

How to Find the Best XRPL Tokens

Trending, gainers and new launches on xrpl.to, and why the day’s biggest gainers are often the smallest pools: today’s lists side by side.

Live Data

Solana vs XRPL - DEX Volume & dApps Compared

Live data comparison of Solana and XRP Ledger DEX ecosystems.

Market Data

XRP Rich List: Who Holds the Most XRP

The ten largest XRP accounts, what it takes to be in the top 1%, how the largest accounts’ share has fallen since 2013, and how much is still in Ripple’s escrow. Live from the XRP Ledger.

Market Data

XRPL RSI & Technical Analysis

What RSI says about XRPL tokens and when to ignore it: seven time frames, and today’s most oversold and overbought tokens with their volume, live.

Market Data

XRPL Token Screener

Every screening view on xrpl.to and what it ranks by, what each number on a token means, and how to read a top gainer before buying it.

Market Data

XRP Airdrop Checker

Check any XRP Ledger address for the tokens it holds and what each is worth, and learn to tell a real airdrop from a claim site that drains wallets.

Live Data

XRPL On-Chain Analytics & Data Dashboard

What the XRP Ledger’s own data shows today, where each figure comes from, and where to find it on xrpl.to and in the API.

Guides & explainers

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Guide

How to Mint NFTs on the XRP Ledger

Two thirds of XRP Ledger NFTs — 5,780,350 of 8,618,062 — point at an ordinary web server, which whoever runs it can change or switch off without touching the ledger. Only 26.3% use IPFS, and 36 use ar://, of which not one has a retrievable picture. A census of every NFT on the ledger, why a web link defeats the point of minting at all, and the step-by-step way to mint one that keeps its art: CIDv1, XLS-24 metadata, pinning, and the NFTokenMint fields worth understanding before you send a thousand of them.

Guide

XLS-20: How XRPL NFT Minting Actually Works

Native NFT objects since 31 October 2022: 32 NFTs per owner reserve (verified in the rippled source), protocol-enforced royalties up to 50%, brokered sales with nothing to custody. Four years on the ledger: 8.56M minted, half of them burned, 50.3M XRP traded across 1.29M sales.

Guide

XRPL DEX Trading Guide

How to trade on the XRP Ledger’s built-in exchange with xrpl.to: what you need, market and limit orders, and what each costs.

Guide

Earn Passive Income on XRPL

What actually pays on the XRP Ledger: AMM fees at last week’s real pace, resting orders, and what does not exist (XRP staking). Plus where on-ledger lending stands.

Guide

How to Buy & Trade RLUSD

Buy and trade Ripple's USD stablecoin on the XRPL DEX. Swap, provide liquidity, and earn yield.

Guide

How to Launch a Token on XRPL

Create your own token, set up liquidity, and start trading on the XRP Ledger DEX.

Guide

How to Swap Tokens on the XRPL DEX

Step-by-step guide to swapping any XRPL token directly on the decentralized exchange.

Guide

How to Buy XRPL Tokens

Buy any XRP Ledger token with a wallet, some XRP and one swap, and what to check before you buy.

Guide

XRPL Airdrops - How to Qualify & Claim

How airdrops actually reach an XRP Ledger wallet, what a real one asks of you (almost nothing), and what the fake ones that empty wallets look like.

Guide

XRPL Token Safety Guide

Seven checks before buying an XRP Ledger token: the issuer, whether it can mint or freeze, its transfer fee, the pool you would sell into, who holds it. And the scams that reach XRP Ledger wallets.

Guide

XRP NFT Marketplace - Without Broker Fees

When an XRPL NFT sale pays a broker fee and when it does not, and what each marketplace charges, measured from its own sales.

Guide

How to Buy NFTs on the XRP Ledger

How NFT sales work on the XRP Ledger: offers, bids and brokered sales, what a purchase costs, who pays the royalty, and what to check.

Developer & API

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Developer

XRPL API Guide

The XRP Ledger API, two ways: the ledger’s own commands and an indexed data API with prices, trades, pools and NFTs. Free to start, with real requests and responses.

Developer

XRPL Token API

The token list, one token, its price history, its holders and where its supply went, each as a real request and response.

Developer

XRPL DEX API

Trading data, live orderbook, swap quotes, and transaction submission endpoints.

Developer

XRPL NFT API

Collections, listings and offers, holders, traders and activity, with a live example and the call for each.

Developer

XRPL AMM API

Every AMM pool through one API: ranked lists with 7-day fees and APY, live state, history and LP positions, with a live example.

Developer

XRPL Payments Engine Specification

Payment transaction fields, flags, path-finding, cross-currency routing, AMM integration, and safe MAX-send patterns.

Developer

XRPL Token Search API

One endpoint for autocomplete and token pickers: a live example, an autocomplete pattern, the limits, and the mistakes to avoid.

Developer

XRPL Swap API

One POST returns the best price for a swap across every XRP Ledger order book and AMM pool, and the numbers for the Payment that makes it. Tested code and a live quote.

Developer

XRPL WebSocket API

Every stream xrpl.to offers, a working price subscription, a real frame captured live, and the rules for staying connected.

Developer

XRPL Wallet API

Balances, holdings, history, offers, NFTs and objects for any account, with a live example and batch lookups.

Developer

Ripple Data API Replacement

Migration guide from the deprecated Ripple Data API v2 to XRPL.to API.

Developer

Build an XRPL Trading App

Step-by-step tutorial for building a trading app with the XRPL.to API.

More

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Forensics

CULT's Launch Wallets Took XRP Out. Pheanor's Put It In.

A report on CULT and OBEY says the wallets around Pheanor and Hodler took money out and lifted the price without buying. Its figures match the ledger; its conclusions do not. The wallets that launched CULT took 9,571 XRP out and sold 9.8% of all CULT (one more sale, of 399 CULT, was made with their stolen key), created new OBEY and sold it, and deleted themselves into one account, which the report files as connected to Pheanor and Hodler. Pheanor's wallets put 87,760 XRP more in than they took out, and taking CULT alone out of a pool is, by the ledger's own formula, buying it.

Forensics

Who Bought FUZZY First

Eleven seconds after the FUZZY pool opened, two wallets held 18.44% of the entire supply — bought for 77.83 XRP at a marketcap of 363. Forty seconds later they had sold all of it, for a 667 XRP profit; the same stack is worth 1,875,472 XRP today. The launch itself was clean: the issuer's one and only payment sent 100% of supply into the AMM, so there was no allocation to be an insider on. Who the other 2,024 first-week buyers were, the FirstLedger memecoin circuit they came from, what marketcap each community paid, and why 46% of the liquidity now sits in project hands — one wallet of which was handed 15,508M LP tokens by the Fuzzybears NFT issuer.

Forensics

Where 1,509 XRP Went

Someone accepted what looked like a free NFT claim and paid 1,509.019636 XRP for a counterfeit. The offer had been addressed to their wallet alone since May, priced at exactly 92.0000% of what they held the ledger before it was written, and it waited 94 days. Two days after the sale the proceeds split: 1,000 XRP into a ChangeNOW deposit tag, 200 XRP into the next batch of fakes, and 521 XRP that has never moved. The seller was the sixth wallet in a relay that AccountDelete-sweeps itself forward from a Coinbase withdrawal — 2,266 counterfeits and 2,778 addressed offers in four months, for one acceptance. Every hop linked.

Forensics

One Bitrue Tag, Ten Projects

A reader challenged a 'linked wallets' finding: the Bitrue tag those tokens share, they said, is a listing wallet, not one customer. It is. On tag 812314804, 194,000 RPLS landed the day before Bitrue announced a 194,000 RPLS launchpool, and 1,250 DROP matched its announced vote-reward pool exactly. Of the wallet's 7,892 deposit tags 88% have one payer; this one has eleven, with ten different activators — ten projects Bitrue listed, not one operator. Every deposit and Bitrue post linked.

Forensics

The Real FuzzyBear

Two stories are being told about FuzzyBear. A viral thread says XRP appears exactly once in his 1,421 bitcointalk posts — a faucet claim, nothing more. The FUZZY token's own xrp-ledger.toml says a 1 XRP for 1 BTC order he placed on New Year's Day 2014 shows he 'knew XRP was built to be a better Bitcoin'. Both are checkable. XRP appears in 25 posts, 15 of them the pizza trade; and the cited order was followed 100 seconds later by an ask nearly 28,000 times lower, then three days of selling that emptied the wallet. Every transaction linked.

History

Two Pizzas for 10,000 XRP

On 7 March 2013 two large pizzas were delivered in north-west England and paid for with 10,000 XRP — the XRP Ledger's answer to the bitcoin pizza. The offer was a word-for-word copy of laszlo's 2010 post (97.83% identical, three substitutions). The whole trade, reconstructed across three ledgers that were all writing at the time: the bitcointalk threads, four XRPL payments and two bitcoin transactions, agreeing to the minute — a forum post followed by the payment that created a wallet 160 seconds later. One promise in the thread is the only leg the ledger cannot corroborate.

Forensics

Twelve Tokens, One Operator

Twelve XRPL tokens registered from ten creator wallets between December 2024 and June 2026 — a fresh address every time, so each reads as a first launch. Most of those wallets were created by a payment from the previous one, in a line tracing back to a single 192.55 XRP exchange withdrawal; the rest cash out into the same exchange account. Eleven were ever issued and eight are now worth under 500 XRP. Every funding payment cited by ledger index and transaction hash.

History

XLS-14: The NFTs the XRP Ledger Had Before It Had NFTs

Before XLS-20, an XRPL NFT was a trustline balance of 10^-81 tokens — indivisible because nothing smaller exists. The whole era, read from live ledger state: 46,216 survivors, 10,745 issuers, 98.2% honoring the 1-of-1 rule, 32,818 XRP still locked in reserves, and a standard killed in a single quarter by XLS-20.

History

The First Meme Coin on the XRP Ledger Launched Seven Months Before Dogecoin

On 15 May 2013 someone issued 362,101 units of a token called MOO and 56 accounts opened a trustline to hold it. Dogecoin was still 205 days away. The first thing MOO ever traded against was not XRP — it was a token called SEX, issued six minutes later.

Forensics

39% of the First XRP Addresses Hide a Word. So Do 34% of Random Ones.

The account holding 80% of all XRP spells B1RD. Schwartz’s spells GoLD. Founding addresses hold no more words than random ones do, by a 370,105-word dictionary — including the first run, which said otherwise.

Forensics

What Else Is In Ledger 32,570

One unit of a token called MEA sits on a trustline last written at ledger 10,066 — a ledger no server on Earth has, unmoved in thirteen years. Plus what nobody in the founding cohort ever did, the one account cluster that survives scrutiny, and what the 2013 client knew.

History

A History of XRP and Ripple, 2011–2013

The early history of XRP is told mostly from memory, because ledgers 1 through 32,569 were lost. Where the story touches surviving chain state it can be checked — and the widely-quoted 80/9/7/4 founder split does not survive it. The 80/20 is exact; no account held 9 billion XRP at ledger 32,570.