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Edo Farina, the CEO of Alpha Lions Academy, highlights the number of $XRP that automatically puts investors on the $XRP rich list.
In a viral video making rounds within the $XRP community, Farina provided insights on what it takes for investors to be ranked among the top wealthy $XRP holders globally.
Amount of $XRP Needed to Rank Among Top 10% Largest Wallets
According to him, investors can be among the top 10% of the biggest $XRP wallets with just 3,011 $XRP. Farina indicated that as of June 2024, the number of $XRP required to be in the top 10% ranking was around 3,299 $XRP.
However, following the surge in $XRP price, the number of $XRP needed to be in this category dropped to 3,011. This represents a decline of 8.72% within a short period of three months. With $XRP priced at $0.5643, these 3,011 $XRP tokens cost about $1,699.
As of yesterday, August 11, Farina claimed that only 523,615 wallets are holding at least 3,011 $XRP. Despite the number of wallets currently positioned in the top 10% $XRP rich list, Farina indicated that an individual may own multiple wallets. For instance, he claims to own between 15 and 20 $XRP wallets.
Top 5% Rich List
Furthermore, Farina highlighted the number of $XRP required to be among the top 5% biggest $XRP wallets, noting that this category requires a holding of 10,099 $XRP tokens. He classified investors holding 10,000 $XRP as sharks, adding that there are 252,594 wallets in this category.
According to Farina, investors should strive to hold at least 10,000 $XRP, as this holding positions them for massive success. At press time, investors can acquire these 10,000 $XRP at $5,643. He recommended that investors adopt the DCA strategy to accumulate these 10,000 $XRP tokens.
Additionally, Farina asserted that investors holding at least 10,000 $XRP could “cash out” earlier than those with smaller amounts, especially when the token hits ambitious targets like $10 to $100.
However, he speculated that people with small $XRP holdings can still be on the rich list in the future once scarcity sets in. Specifically, he highlighted factors such as burns and locking of $XRP in nostro/vostro accounts as potential drivers that could bolster the asset’s scarcity and bring more investors into the rich list.
Top 1% Rich List
Meanwhile, Farina stated that to be considered a whale and categorized in the top 1% $XRP rich, an investor must hold a minimum of 61,237 $XRP, which can be purchased at $34,556.
According to information displayed in the video, 52,361 wallets are currently in the top 1% $XRP rich list.