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.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
