The 22-year-old will lead Wales against Montenegro on Wednesday night, but he has lost his club captaincy in an ongoing row over a new contract.
Ledley has one year left on his current deal at Cardiff, and there has been plenty of transfer speculation involving Everton, Stoke West Ham and Hull.
That situation has forced Cardiff boss Dave Jones to take the club captaincy away from Ledley and award it to new boy Mark Hudson.
Ledley said: "I was disappointed to lose the Cardiff captaincy at the weekend, I was told on Friday.
"I understand where the gaffer (David Jones) is coming from, but I felt I did well last season as captain.
"But it is down to him and the chairman (Peter Ridsdale) what they want to do, but I am happy and aim to keep playing my football.
"I have been at Cardiff for a few years now, and I have to accept the situation.
"I was disappointed to lose the captaincy. Being a Cardiff boy, it meant a lot to me, but I have got to get on with it and move on.
"Whether it is the chairman's or manager's decision, I don't know. You have to ask the gaffer or chairman why this has happened. I still have a year left on my contract, so there is still time (for a new contract).
"I can still achieve what Cardiff want to achieve, and that is promotion."
He added: "Being captain meant more to me than anything. I am from Cardiff, and my family were chuffed because it is important to all of us that I am captain of Cardiff.
"But you have to move on. It is all to do with my contract, but I still have a year left and there is still time to sort something out.
"There is no rush. But it is down to them (the club), it is their decision.
"I am only 22, there's plenty of time left for me and I hope I can stay as Wales captain for many more years to come."
Ledley added: "It is a great honour to be captain of Wales, to lead a great bunch of lads.
"It is a great team, I feel we are going places now, and I hope that some of the younger players can look up to me and we can move on to success together.
"I maybe felt that with some of the seniors boys back from injury, James Collins and Danny Gabbidon, that I would not hold on to the Wales captaincy.
"We are all disappointed that Craig Bellamy (our captain) is not here, but I am delighted to be given the arm-band again in his absence.
"I am great mates with James and Danny off the pitch, I came through at Cardiff with them as seniors to me and now I find myself dishing out orders."