D. Together

The money flow

Who is up and who is down, counted in XRP that actually moved, plus what is still held.

Published

October 2, 2026

Ledger index

107030551

Contents

• XRP in and XRP out
• What each group holds
• Tokens that came and went without XRP
• Ahead and behind, account by account
• Account by account
• The largest sales

Accounts marked “flow-connected to” an activation tree are those the CULT and OBEY token flow reaches from it at its widest flow threshold, 10 CULT paid in total one way; the token-flow article sets out how it is followed, and the groups at every other threshold. Accounts flow-connected to both activation trees: 17 at 10 CULT, 0 at 30 CULT, 0 at 50 CULT. Being flow-connected does not make an account the activation tree's.

Who is up and who is down, counted in the one thing the ledger records exactly: XRP. For every transaction that changed an account's CULT, OBEY or LP tokens, the account's own XRP balance change in the same transaction is XRP it paid into this market or took out of it — buying and selling, and putting XRP into pools and taking it out. Nothing is valued at a market price along the way. What an account still holds is then valued two ways: marked at each pool's price at the last ledger (CULT 148.9931 XRP, OBEY 2,860.6916 XRP), and would fetch, what selling it into the pools at once would pay by the network's own formula. The result is XRP taken out, less XRP paid, plus what is held.

CULT and OBEY that arrived by payment from another account, as a reward, or out of a pool in exchange for LP tokens cost no XRP here: whatever was paid for them was paid by someone else, or earlier, when the LP tokens were bought. Putting CULT into a pool is not a sale: no XRP comes back, and the LP tokens received are counted in what is held. When an account pays XRP and the CULT it buys is delivered to another account, the XRP counts for the account that paid it. A trade of CULT or OBEY for a token outside this market moves no XRP and is only counted, not valued; so is the other token's side of LP tokens in a pool that pairs CULT or OBEY with a token other than XRP.

XRP in and XRP out

Table 1. Each group: the XRP its accounts paid into the market and took out of it, the difference, and what it holds now. A group's figures are its accounts' added up; a trade between two of its accounts cancels out. The named wallets are part of their activation trees, and “both activation trees” is the two activation trees together; the activation trees and the three flow-connected groups do not overlap, and a flow-connected group is not the other two combined.

every row: download xrp-in-and-out.csv.

Read across: a negative “taken out, less paid” means the group has put more XRP into this market than it has taken out so far; whether that turns into a profit rests on what it still holds. “Would fetch” sells the whole group's holding at once, so it is lower than the sum of its accounts each selling alone.

What each group holds

Table 2. What each group holds now: CULT and OBEY directly, and what its LP tokens can take out of their pools, the XRP side included.

every row: download holdings-by-group.csv.

Tokens that came and went without XRP

Table 3. CULT and OBEY each group received or sent with no XRP moving for it: payments and rewards, CULT taken out of a pool alone for LP tokens, and CULT put into a pool alone. Payments from and to the issuers, and from and to the accounts an issuer sent an issue to, are supply, not transfers between holders, and are left out. None of it is in the XRP figures above; what is still held is in the holdings.

every row: download tokens-without-xrp.csv.

Ahead and behind, account by account

Table 4. Every account that ever held or traded, by group, each on its own with its holding at the pool price: how many are ahead and behind on paper, the middle values, and the totals.

every row: download profit-by-group.csv.

A median is the middle value when every account is sorted by its figure. Counted account by account, tokens received by payment cost nothing: an account paid CULT by another account of the same activation tree shows a gain, and the account that paid it shows a loss. Within a group those cancel, so the group rows above are the fair figure for a group; this table only says how the figures spread across its accounts. Every figure here, and each account's own, is in the account pages for the activation tree accounts and in the data for the rest.

Account by account

Table 5. Every account's own figures, the largest result first. Each account's “would fetch” assumes it sells alone, so that column cannot be added up.

Showing 25 of 1,799 rows; every row: download xrp-in-and-out-by-account.csv.

The largest sales

Table 6. The activation trees' 25 largest sales of CULT, by XRP received.

every row: download largest-tree-sales.csv.

← Previous: Combined effect on the price
Next: The other large holders →