- The current data shows that one needs to have 3,011 XRP in their wallet to be among the world’s top 10% XRP holders, according to the crypto analyst Edo Farina.
- According to Farina, it is possible to count at least 523615 of the holders of over 3,011 XRP.
- To be part of the top 1% of XRP holders, an investor has to own at least 61,237 XRP, which costs around $34,556, which means such a category of investors are extremely limited.
A new study by crypto analyst Edo Farina comes up with new goals for investors who want to be among the biggest XRP holders. In August 2024, one needs 3,011 XRP to be among the world’s first ten per cent of all XRP holders. This revelation helps us understand how XRP is held and gives more information about the large investors in this crypto asset.
Farina also states that there are 523,615 wallets with 3,011 XRP ,hence these wallets’ owners belong to the top 10% of XRP holders. This is important to note because the number of wallets does not equal the number of holders for some cases. Farina further explained that one wallet could control many others and in this case the actual number of the unique top 10% wallets could be much smaller.
Climbing Higher: Top 5% and Top 1% Holders
The thresholds become more demanding for those aspiring to climb higher within the ranks of XRP holders. To be in the top 5%, an investor would need to hold at least 10,099 XRP, which, at current market prices, equates to approximately $5,643. Farina describes holders at this level as “Whales,” with 252,594 wallets meeting this threshold.
To get into the list of 1% of the largest XRP holders, one has to invest many more times than that. It requires a holding of at least 61,237 XRP worth approximately $34,556 to be referred to as a ‘whale.’ The detailed data analysis suggested that only 52,361 of the wallets meet this requirement, further emphasizing the relatively limited nature of this category.
In the case of XRP, Farina recommends using the Dollar Cost Averaging (DCA) method.This is to slowly build up a position in the digital currency for those targeting 10k XRP set as their investing goal. He stated that it is possible to hold this amount to secure high returns if the XRP cost increases to reach potential future prices within the range of $10 to $100.
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