The pundit behind the 24hrsCrypto account has argued that an XRP rally to lofty price targets would only make a few people rich.
Notably, many XRP proponents have repeatedly suggested that XRP is undervalued and could eventually climb to $100 or even $1,000. However, these predictions often trigger criticism.
Particularly, these skeptics usually point to two reasons. First, they argue that XRP’s market cap would become unreasonably large at those prices. Second, they claim such a rally would turn millions of people into billionaires, with XRP currently boasting 6.88 million wallets. They believe this is unrealistic.
Nonetheless, market commentator 24hrsCrypto recently tackled this issue in a YouTube session, focusing on the second claim. He said the idea that millions would suddenly become rich misunderstands how XRP holdings are actually distributed.
XRP Rich List Shows Only A Few Could Become Wealthy
To explain, 24hrsCrypto discussed the XRP rich list. He started with the lowest tier, where just over 3 million wallets hold between 0 and 20 XRP each. He described these as scraps left over in exchanges or test wallets.
On average, these wallets contain about 7 XRP, which he rounded to 8. At today’s prices, that works out to less than $25 per wallet.
The next tier includes 2.5 million wallets with balances between 20 and 500 XRP. Together, these wallets hold about 210.5 million XRP. On average, each wallet in this group has roughly 83 XRP, worth around $240.
Adding both categories together, there are about 5.6 million wallets, already 81% of total XRP wallets, with a combined balance close to 233.8 million XRP. However, 24hrsCrypto stressed that the average person in these groups holds only pocket change, not life-changing wealth. As a result, even if XRP hits lofty targets like $1,000, their balances would not reach millions or billions.
Most XRP Whale Investors Own Multiple Wallets
He then moved to the upper brackets, where wallets carry anywhere from 1,000 XRP up to 5 million. While the numbers look big, he pointed out that wallet counts do not equal individual people. Specifically, many investors spread their holdings across several wallets.
One person might keep 10,000 XRP in one wallet, 25,000 tokens in another, and 50,000 XRP in yet another. This means the actual number of people in these larger brackets is far smaller than the charts suggest.
To him, this makes the argument that “millions” will become wealthy completely flawed. Out of billions of people worldwide, only a tiny fraction owns enough XRP to see life-changing gains. Most holders only control between $25 and $240 worth of tokens.
Notably, to own 500 XRP today, someone would need to spend about $1,400. He argued that this alone shows how few people could truly benefit on a massive scale.
XRP’s Long-Term Price Prospect
24hrsCrypto then discussed XRP’s long-term price outlook. He believes XRP will eventually reach $100 and could climb as high as $2,000 or even $3,000. He insisted that critics may doubt this, but the math and time will prove them wrong.
Essentially, the market pundit believes the structure of XRP ownership guarantees that only a small group of holders would see extraordinary gains, while the majority would not.
DisClamier: 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 opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
