According to crypto analytics firm Santiment, the number of XRP holders that have anywhere between 100,000 and 1 mln tokens in their wallets has reached a new all-time high of 17,625.
There are also 307 mega whales who hold over 10 mln tokens, down four holders from the September peak of 311.
It’s not just whales
While XRP is believed to have one of the largest levels of wealth inequality among large- and medium-cap cryptos, things appear to be gradually changing.
Those addresses that hold between 100 and 1,000 coins also notched a new lifetime high of 332,560 earlier this week.
Yet, according to XRPL Labs' data analysis service ledger.exposed, 67.31 percent of the token’s circulating supply is owned by the top 100 accounts. To put things into perspective, only 70 wallets hold as much as 32 bln XRP tokens ($8.2 bln at the time of writing).
XRP’s performance has been extremely disappointing in 2020 as the currency is even struggling to reclaim its 2018 peak after Bitcoin surged to its highest level since early January 2018. XRP/BTC is currently down 93 percent since its peak.
Nevertheless, XRP has been the talk of the town on various cryptocurrency platforms, currently ranked as the number one coin by discussion rate by Santiment.
XRP surging 8.4 percent over the past week was refreshing and uplifting for the community.
Bitcoin, after its rally to almost $16,500, remains in the lead when it comes to social dominance and social volume.
As a seasoned cryptocurrency enthusiast and expert, my in-depth knowledge spans various digital assets, including XRP. I've closely followed the evolution of the crypto market, staying abreast of the latest developments and trends. I've engaged with industry reports, analyses, and firsthand experiences that have solidified my expertise in the field.
Now, let's delve into the key concepts discussed in the provided article:
XRP Holder Distribution:
The article mentions that the number of XRP holders with a balance ranging from 100,000 to 1 million tokens has reached a new all-time high of 17,625. Additionally, there are 307 mega whales holding over 10 million tokens. This data indicates the distribution of XRP among different-sized holders, with a focus on the concentration of wealth within the crypto.
Wealth Inequality in XRP:
XRP is highlighted as having one of the highest levels of wealth inequality among large- and medium-cap cryptocurrencies. Despite this, there are signs of change, as the number of addresses holding between 100 and 1,000 coins has reached a new lifetime high of 332,560. The article emphasizes a shift in the distribution pattern of XRP wealth.
Top 100 Accounts Dominance:
According to data from XRPL Labs' ledger.exposed, 67.31 percent of XRP's circulating supply is owned by the top 100 accounts. This statistic underscores the concentration of XRP holdings among a relatively small number of entities. Notably, only 70 wallets collectively hold as much as 32 billion XRP tokens, reflecting a significant concentration of wealth.
XRP Performance in 2020:
The article touches upon XRP's performance in 2020, describing it as disappointing. Despite Bitcoin's surge, XRP is struggling to reclaim its 2018 peak and is currently down 93 percent against Bitcoin since its peak. The article provides a comparative perspective on XRP's performance in the broader context of the crypto market.
Social Dominance and Discussion Rate:
XRP is highlighted as the number one coin by discussion rate on various cryptocurrency platforms, according to Santiment. Despite its less favorable performance, the community remains engaged and active in discussing XRP. The article contrasts XRP's discussion rate with Bitcoin's social dominance and social volume, noting that Bitcoin is leading in these aspects.
In conclusion, the article provides a comprehensive overview of XRP's holder distribution, wealth inequality, performance in 2020, and its standing in the cryptocurrency community's discussions. The nuanced analysis presented in the article reflects the dynamic nature of the crypto market and the ongoing conversations surrounding XRP.
As reported by Coinpedia, XRP's network has seen a surge in whale transactions recently. On-chain data from Santiment reveals that approximately 52 billion XRPs are held by whale traders, each possessing over 100,000 units.
XRP Price Predictions: For July 2024, XRP is expected to trade within a range of $0.55 to $0.60, consolidating recent gains. Looking ahead, analysts forecast a year-end price range of $1.4 to $1.6, underpinned by ongoing market dynamics and potential regulatory developments.
According to XRP's predictive model, XRP price is expected to move beween $0.42 and $0.50 in August 2024. This will allow XRP to rise to $0.91 later in 2024 and eventually $1.44 in 2025. Throughout 2024, XRP is expected to move between $0.28 and $0.91 with an average forecasted price of $0.52.
How many Ripple holders are there? According to data provided by CoinCarp XRP is held by 4,840,747 individual wallets as of July 2, 2024. The top 10 Ripple token holders hold over 41% of the total token supply, and the top 100 hold over 73%.
Trading Education, which is bullish on XRP's long-term future growth, likens the platform to a Visa competitor by the end of the decade. The site predicts that XRP could reach a high of $31.81 by the end of 2030.
David Cox, writing on the CryptoNewZ platform, anticipated that XRP could reach a high of of $1.53 by 2025, with a low of $1.06 for the same year. Another Ripple price forecast by AMBCrypto estimated the XRP price could hit a high of $2.01 in 2030, with a short term prediction of a high of $0.61 in 2024.
Can XRP Reach 500 Dollars? For XRP to achieve a price of $500, it would necessitate an increase of over 1,000 times its current value. While theoretically possible in the dynamic world of digital assets, this scenario faces significant practical hurdles.
In other words, XRP's current price of $0.381 would increase by 2,171% to $8.65 in 2050. XRP's price prediction for 2050 based on Bitcoin's 5 yr. average annual return rate. If we take Bitcoin's historical ROI as a basis instead, we see that XRP could increase by 27,746% to roughly $106 by 2050.
Crypto expert predicts XRP's potential to hit $10,000 based on BRICS adoption and tokenization growth. Ripple's technology aims to revolutionize international payments with XRP.
Ripple, the largest holder of XRP, plays a crucial role in the token's price fluctuations through its monthly unlocks and sell-offs. To date, the company has offloaded 1.826 billion XRP from its Treasury account, known as 'Ripple (1)' on XRPScan. At current prices, this equates to approximately $1.07 billion.
Can it reach 35k? Yes it can but it will take some time. My reasons for it is that Gold has a market capital of roughly $11T and Silver has a market capital of $1.3T right now. If XRP has the same market capital as Silver, it will be $26.
At a value of $0.31 this is absurd. After all, who could possibly require the use of one millionth of 31 cents? But at a much higher token value, say $10,000 per XRP, that divisibility makes sense, for two reasons: Low transaction cost and affordability for small retail use.
If the crypto market cap hits $3 trillion and XRP retains its current 1.10% dominance, its price could ascend to $0.589 by 2025. In a more bullish scenario of the crypto market surging to $10 Trillion, the price of XRP could soar to a staggering $1.96, resulting in a potential 4x return for investors by 2030.
Here's our list of cryptos that will explode in 2024: Pepe Unchained (PEPU) – Iconic meme token built on a layer-two Ethereum blockchain. The Meme Games (MGMES) – Meme coin that could explode, offers gamified presale bonus. WienerAI (WAI) – A prime meme coin contender for explosive growth in 2024.
Introduction: My name is Greg Kuvalis, I am a witty, spotless, beautiful, charming, delightful, thankful, beautiful person who loves writing and wants to share my knowledge and understanding with you.
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