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Pundit explores how 1,000 XRP can provide significant financial returns
Levi, a well-known YouTuber, explores a scenario in which holders of just 1,000 XRP tokens could experience life-changing gains as XRP and XRPL grow.
In a recent analyses of the XRPL ecosystem trajectoryThe industry commentator pointed out that the distribution of ownership of XRP is striking and suggests that holding a relatively modest amount of it could lead to significant financial benefits.
To reiterate this point, he discussed the supply situation of XRP. With 55 billion XRP in circulation out of a total supply of 100 billion, it is important to understand how these tokens are distributed among holders. His research on XRP revealed some interesting statistics on the distribution of XRP holdings.
Growth trajectory of XRP and XRPL
However, he first highlighted the growth path of the XRP Ledger. Part of this growth is the recent increase in transactions on XRPL. Daily transactions on XRPL have skyrocketed from an average of 257,000 to over 5.41 million earlier this year.
This recovery in activity, despite having moderated in the second quarter of the year, still marks a substantial increase compared to last year’s figures. Levi highlighted that the surge indicates growing interest and usage of the XRP Ledger for various applications, particularly in decentralized finance (DeFi) and non-fungible tokens (NFTs).
Levi pointed out that, contrary to the general decline in NFT sales across most blockchains, XRPL has seen an increase NFT Transactions. In April there were 35,000 NFT sales on XRPL, while in January there were more than 43,000. This is in stark contrast to Ethereum, where NFT sales have plummeted.
Furthermore, according to Levi, the creation of new tokens and meme coins on XRPL, such as the Gensler SEC token, shows the growing ecosystem of the network. Some of these new tokens have reached notable market capitalizations, with the potential to generate more volume and activity on XRPL.
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The rich XRP list paints an interesting picture
Levi then highlighted the XRP rich list, revealing that the vast majority of XRP accounts hold relatively small amounts. Notably, data provided by Santiment confirms that the XRPL has welcomed over 210 million holders this year, with total holders standing at 5.19 million at the time of writing.
Interestingly, Levi noted that around 90% of these accounts have balances between 0 and 500 XRP. This suggests that holding just 1,000 XRP places an individual in the top 10% of XRP holders.
For those who can accumulate between 50,000 and 75,000 XRP, statistics place them as “mega whales,” a designation reserved for only 26,000 accounts. Data from Rich-list.info confirms this statement. This distribution indicates that a small number of XRP could potentially yield significant financial rewards.
Levi pointed out that hitting certain high price targets could turn modest holdings into sizable sums. For example, if XRP gained $100, holding just 1,000 XRP could result in $100,000. Analyst Javon Marks maintains that XRP could reach $200. At this price, 1,000 XRP could fetch $200,000.
With XRP and For those aiming to reach millionaire status, holding tens of thousands of XRP is a realistic goal. However, this expected growth remains uncertain.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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