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Pundit Explores How 1,000 XRP Can Provide Significant Financial Returns

source-logo  thecryptobasic.com 25 May 2024 11:32, UTC

Levi, a well-known YouTuber, explores a scenario where holders of just 1,000 XRP tokens could record life-changing gains as XRP and the XRPL grow.

In a recent analysis of the XRPL ecosystem’s trajectory, the industry commentator emphasized that the distribution of XRP ownership is surprising and suggests that holding a relatively modest amount of it could lead to significant financial rewards.

To drive home this point, he discussed XRP’s supply situation. With 55 billion XRP in circulation of a total supply of 100 billion, understanding how these tokens are distributed among holders is important. His research into the XRPL revealed some interesting statistics about the distribution of XRP holdings.

XRP and XRPL Growth Trajectory

However, he first spotlighted the growth path of the XRP Ledger. Part of this growth is the recent surge in transactions on the XRPL. Daily transactions on the XRPL have skyrocketed, jumping from an average of 257,000 to over 5.41 million earlier this year.

This uptick in activity, despite having cooled in the second quarter of the year, still marks a substantial increase from last year’s figures. Levi stressed that the surge points to a growing interest and use of the XRP Ledger for various applications, notably in decentralized finance (DeFi) and non-fungible tokens (NFTs).

Levi highlighted that, contrary to the general downturn in NFT sales across most blockchains, the XRPL has seen a rise in NFT transactions. In April, there were 35,000 NFT sales on the XRPL, with January boasting over 43,000 sales. This is in stark contrast to Ethereum, where NFT sales have plummeted.

Additionally, the creation of new tokens and meme coins on the XRPL, such as the Gensler SEC token, shows the network’s growing ecosystem, according to Levi. Some of these new tokens have achieved substantial market caps, with a potential to drive more volume and activity on the XRPL.

XRP Rich 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 sourced by Santiment confirms that the XRPL has welcomed over 210 million holders this year, with total holders sitting at 5.19 million at press time.

XRP Total Holders | Santiment

Interestingly, Levi noted that about 90% of these accounts have balances between 0 and 500 XRP. This suggests that holding as little as 1,000 XRP places an individual in the top 10% of XRP holders.

For those able to accumulate between 50,000 and 75,000 XRP, the stats place them as “mega whales,” a designation reserved for only 26,000 accounts. Data from Rich-list.info confirms this claim. This distribution indicates that a small number of XRP could potentially yield significant financial rewards.

Levi emphasized that reaching certain high price targets could transform modest holdings into substantial sums. For instance, if XRP clinched $100, holding just 1,000 XRP could result in $100,000. Analyst Javon Marks maintains that XRP could hit $200. At this price, 1,000 XRP could yield $200,000.

With XRP and the XRPL recording sustained growth, Levi suggests that procuring XRP now, while prices are still accessible, could set investors apart from the majority of the community. For those aiming to achieve millionaire status, holding tens of thousands of XRP is a realistic goal. However, this projected growth remains uncertain.