Unit 1 · Ledger basics

What should I look at in a ledger explorer?

3 min read
7 sections
4 questions · +30 XP

There are three explorers, XRPScan, Bithomp and XRPL Explorer, and they all show the same ledger. In any of them, check the result code, delivered amount, where the label comes from, and whether it is an internal move.

Three explorers, one ledger

An explorer is a site that lets anyone look up the accounts and transactions written in the ledger. XRPScan shows labels and the funding account at a glance, Bithomp details holdings such as tokens, NFTs and escrows, and XRPL Explorer, run by the XRPL Foundation, shows the raw ledger without extras. All three read the same ledger, so balances and transaction history match everywhere; only added information like labels differs.

Clicking any address or transaction link on this site opens a small chooser with the three explorers. The same chooser offers our checker, which reads the result code, delivered amount, same-company wallets and destination tag automatically. Use the checker for a quick answer and an explorer to go through the raw record.

Transaction page: start with the result code

Every transaction has a result code. Only tesSUCCESS means it took effect. Codes starting with tec are failures that still paid a fee and stay on record; failed transfers sometimes get shared as "big moves".

Read the delivered amount, not the Amount field. A payment with the partial-payment flag can show a huge Amount while delivering far less.

Account page: who gave it that label?

Labels like "Binance" or "Ripple" come from the explorer’s own data or the owner’s registration; the ledger does not guarantee them. A verified-domain mark means the company’s site claims the address, which is stronger.

For an unlabeled whale, check which account first funded (activated) it. If an exchange did, it was likely created by a withdrawal from that exchange, though the owner remains unknown.

Also note what is locked: 1 XRP base reserve per account, plus 0.2 XRP per object such as an order or trust line. XRP in escrow is shown separately from the balance.

Four things to rule out on big-transfer news

First, moves between wallets with the same label: an exchange shuffling its own wallets is not a trade. Second, big moves between Ripple wallets around the 1st of the month are the escrow unlock and re-lock schedule.

Third, the destination tag: a payment to an exchange address with a tag is a deposit for one customer. Fourth, prefer the weekly balance change over a single transfer, since money that came and left nets out.

The rich list is not a ranking of people

One account can hold the XRP of millions: exchange wallets like Upbit or Coinbase belong to all their customers, and one person can run many wallets. "Top 100 accounts hold X%" is a rough concentration gauge, not a count of rich individuals.

Check tokens by issuer address, not name

Anyone can issue a token with any name. Genuine RLUSD is only the one issued by rMxCKbEDwqr76QuheSUMdEGf4B9xJ8m5De; RLUSD from any other address merely shares the name.

Try it yourself

One: on our institutions page, open one of Bitwise’s published ETF wallets in any of the three explorers. Check where its XRP came from and that the result code is tesSUCCESS.

Two: on the 1st of next month, find the big Ripple-to-Ripple move on our live page, then check a few days later whether the same amount went back into escrow.

Three: pick a big-transfer headline and run the four checks above. Post what you find in the community’s on-chain findings board to check it together.