- Over circulation of XRP is still a problem in the community.
- Members of the XRP community can become XRP One-Percenters, with only $20,000
Ripple News Update: XRP is among the top ten cryptocurrencies by market cap. However, it is one of the worst-performing altcoins in this category. Brad Garlinghouse, Ripple’s CEO, has defended the Ripple in this regard. He revealed that the company has reduced sales by volume, quarter over quarter. Consequently, some XRP holders have shown interest in the forking asset.
XRP Distribution Has Become a Controversial Issue
Recently, the sale of XRP by Ripple Escrow during downtrend has resulted in division among the crypto asset holders. Ripple Labs, a firm that is responsible for pushing the adoption of XRP, holds much of the cryptocurrency supply in escrow. This company uses the proceeds from the sale of the XRP held in escrow to fund vital Ripple operations. The Ripple Labs unlocks the XRP held in escrow and sells the token on the market.
However, distressed holders have criticized Ripple and its CEO, Brad Garlinghouse, for the usual sales of XRP tokens during a downtrend. Despite holding a large supply of the asset, many Ripple whales are affected by the downtrend. Holders, who bought the XRP tokens close to the peak of the crypto boom, are the worst hit. The crypto asset purchased in early 2018 and late 2017 could have fallen by up to 90%.
Bitcoin and altcoins such as XRP are emerging financial assets and technologies. With various data points, analysts can determine the market value of each crypto asset. The distribution of each cryptocurrency across wallets is one of the factors that analysts use to determine reasonable market value. The percentage breakdown of different levels of the cryptocurrency held in various wallets is also important.
XRP (XRP) Price Today – XRP / USD
A chart shared by a crypto analyst showed the average assets held by the XRP holders who are among the top 10%. The data deduced from the chart revealed that an XRP holder needs $20,000 worth of XRP token at the current price of 26 cents per token to become a whale. Such holders are also referred to as the “one-percenter” in XRP. This term differentiates the high wealth XRP holders from the rest (99%of the remaining population of XRP holders).
The chart shows that the top 1% XRP holders hold an average of 69,000 XRP. With over 188,000 XRP, you can earn the top 0.1% XRP holders. You need less than 16.5M tokens at over $4.25 million USD to be in the highest level at 0.01%. Besides, to become a one-percenter in Bitcoin, you need 10 BTC or more in your account. With over $100,000 worth of Bitcoin, you can earn the highest spot as a Bitcoin holder.
Become a Ripple Whale Without Too Much Capital
Though the distribution of Ripple XRP often triggers controversy, a holder of the token can join the 1% league with only $20,000. You don’t need much initial capital to become a Ripple whale. The distribution of a crypto asset can contribute to its success. It can prompt holders and traders to trust the cryptocurrency. Similarly, the scarcity of a cryptocurrency will affect its long-term value.