The mass adoption of XRP has been a topic of interest for a long time. A recent post by Francis Bovine Swift (@SwiftBovine) revealed intriguing statistics about XRP wallet holders. The data Swift provided indicates that out of the 4.8 million XRP wallets, a substantial 77% of them hold under 500 XRP.
Swift states, “Remember that out of the 4.8 million wallets, over 3.6 million wallets hold less than 500 XRP.” This statistic underscores the fact that many XRP investors own relatively small amounts of the cryptocurrency.
Next time you are looking at the https://t.co/6hsVbQITMp site, and wondering where you stand, remember that out of the 4.8 million wallets, over 3.6 million wallets hold less than 500 XRP.
Factor this in to your estimates when factoring in the other 8 billion souls walking this… pic.twitter.com/C37QBI6hre
— FrancisBovineSwift 🏴☠️ 🧸 (@SwiftBovine) October 12, 2023
Detailed Wallet Statistics
Although Swift mentions 3.6 million wallets, current XRP wallet data places this value at over 3.75 million. It is worth noting that the total number of XRP wallets had previously dropped due to Poloniex’s removal of over 85,000 wallets in June. As of the latest data, there are 4.8 million wallets in the XRP Ledger.
In stark contrast, only a few wallets hold over 1 million XRP, specifically 1,967 wallets. Of these, only 5 wallets hold more than 1 billion XRP. These 5 wallets have a total of over 7.37 billion XRP.
A deeper dive into the data shows that 481 wallets are in the top 0.01%, holding 5,755,827.188164 XRP or more. The top 0.5% are the 24,055 wallets that hold 117,630.000909 XRP or more. The top 1% are 48,110 wallets with a minimum of 66,943.988129 XRP. The top 10% are 481,098 wallets that hold 3,570.703280 XRP or more.
Early Stage of Adoption
Considering these statistics in the context of the global population makes them more fascinating. The 4.8 million XRP wallets represent only a fraction of the 8 billion people on Earth, showing that XRP still has a long way to go.
This shows that a lot of people have yet to start leveraging the utility embedded in XRP. However, with recent developments like the potential partnership with the Australian Freight and Trade Alliance (FTA), XRP is about to break into a new market and might gain more adoption.
The data paints a compelling picture of the current state of XRP adoption. John Deaton, a pro-XRP lawyer, and many in the community believe the lawsuit with the U.S. Securities and Exchange Commission (SEC) has hindered XRP’s adoption. While many wallets hold relatively small amounts of XRP, there is ample room for growth.
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