- Over 1,900 XRP wallets maintain holdings of over one million XRP despite a decline, indicating sustained interest in the asset.
- Reduction in the millionaire addresses signals selling pressure, yet accumulation is observed in certain investor categories.
- XRP price is predicted to rise by 32.23% to reach $0.823460 by November 30, 2023.
The XRP Ledger (XRPL) has experienced a discernible decrease in addresses classified as XRP millionaires, a move attributed to intensifying selling pressure within the market. However, within this fluctuation, an interesting trend emerges as specific investor categories showcase a penchant for accumulation despite the overarching reduction in millionaire addresses.
Rich-list.info, a community-driven resource tracking XRPL-based wallet data, highlighted a decline in the number of addresses holding at least one million XRP from its previous count. This decline, from 1,994 to 1,961, implies a decrease of 33 addresses losing their millionaire status due to reduced balances. The majority of this reduction primarily affected accounts holding between one million and five million XRP, indicating a strategic shift in holdings within this tier.
Interestingly, while the segment of addresses holding between five million and ten million XRP also saw a reduction from 157 to 150 and a decrease in cumulative balances, addresses possessing 10 to 20 million XRP experienced growth. The number of wallets within this category expanded from 154 to 159, concurrently witnessing an increase in the total balance held—an intriguing development amid the overall landscape of reduced millionaire addresses.
Moreover, the outlook for XRP appears positive according to CoinCodex’s prediction, forecasting a promising 32.23% price surge, envisioning XRP reaching $0.823460 by November 30, 2023. These projections align with bullish sentiment in the market, accentuating the potential for growth despite recent fluctuations and showcasing a favorable time frame for considering investment in XRP.
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