Recently, XRP Avenger (@XRP_Avengers), a prominent figure within the cryptocurrency community, shared an image that detailed the distribution of XRP across various wallet holders.
This image provides a clear view of how XRP is allocated among different segments of users, ranging from those holding vast sums to those with relatively modest balances. Additionally, he highlighted the average amount held per wallet, which stands at 12,350.86 XRP.
Wallet Distribution Overview
The image reveals that XRP ownership is heavily skewed, with a small number of wallets holding substantial amounts of the digital asset. For example, five wallets hold 1 billion XRP or more, amounting to over 7.41 billion XRP.
On the other hand, a significant majority of wallets hold much smaller balances. The table shows over 1.3 million wallets holding between 0 to 20 XRP, which collectively amounts to just over 16 million XRP.
This disparity in distribution reflects common trends observed in the broader cryptocurrency space, where a small percentage of holders, often called whales, control a large portion of the asset’s supply.
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The Average XRP Wallet Balance
The average wallet balance of 12,350.86 XRP offers an interesting perspective on the typical XRP holder. At the current trading price of $0.5841 per XRP, this average balance translates to approximately $7,214.13.
With many bullish predictions for XRP, the average holder stands to gain significantly if the cryptocurrency can reach the targets set by analysts.
One prominent analyst recently set the $1 target for XRP. Should XRP’s price reach $1, the average wallet holding 12,350.86 XRP would be worth $12,350.86. This would represent a notable increase from the current value of $7,214.13.
However, the XRP army is eager to see XRP’s all-time high of $3.84 again. Since it reached this level in January 2018, the highest price was $1.96. If XRP revisits this peak, the average wallet balance could surge to $47,427.3. Such an appreciation would represent a substantial return on investment for average XRP holders.
What’s Next for XRP
XRP is still far from its all-time high, but analysts are confident it will regain this level soon. The potential for thousands of dollars in profit is enticing, and highly probable considering XRP’s potential in the rapidly evolving digital financial ecosystem.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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