Investors who are among the top 5% on the XRP rich list could see their holdings reach impressive margins if the XRP price hits two figures.
With XRP recently collapsing with the rest of the market on the back of the Oct. 10 crash, panic has set in. However, some market observers believe the recent slump, which pushed XRP to new monthly lows, presents an opportunity for investors to accumulate more tokens at discounted prices.
XRP Rich List Presents a Discount
Notably, the current position of the XRP Rich List supports this case, and, if XRP ever reaches some of its ambitious price targets, investors at the top of the list could see some serious gains.
Specifically, data from the community-driven resource confirms that investors holding between 8,162 and 10,501 XRP tokens are among the top 5% on the XRP Rich List. With XRP having dropped to $2.49 at press time, this requirement for entering the top 5% translates to a holding range of $21,129 to $27,197.
Interestingly, these figures were rather lower at the time of the previous XRP Rich List report from The Crypto Basic. Notably, as of Oct. 1, investors needed to hold between 8,229 and 10,550 XRP to enter the top 5%. At the XRP price then, this requirement stood at $23,370 to $29,962.
Gains for Top 5% Addresses if XRP Hits $10
This indicates that two weeks later, investors need $2,000 less to enter the top 5% on the XRP Rich List. While this presents a good opportunity to get XRP cheaper, some market pundits have insisted that those who want to get in should seize the chance while they can. For one, Coach JV recently suggested that when XRP does rally, it will be fast and unexpected, giving no room for accumulation.
Notably, multiple analysts have presented varying targets for when this anticipated XRP rally occurs, but the $10 XRP price prediction has mostly taken center stage. For instance, market watcher DustyBC suggested in July that most investors will miss out on the XRP rally to $10 while expecting a deeper slump.
However, if XRP does reach the $10 mark, how much would investors on the top 5% XRP rich list make? Currently, these investors hold between $21,129 and $27,197 worth of XRP. Should XRP hit $10, their balances will appreciate to between $81,620 and $105,010. This would mark profits ranging from $60,491 to $75,048.
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.
