Investigating XRP Ledger Wallets... At least 45,000 XRP needed to be in the top 1%

▲ XRP/AI-generated image

The minimum amount of XRP required to join the ranks of the top 1% wealthiest on the XRP Ledger has been tallied at 44,596 XRP. As the total number of wallets has surged, the quantity standards for entering the top tier are also being redefined.

According to the cryptocurrency specialized media CoinGape on September 30 (local time), the total number of active accounts with a deposited balance, based on XRP Ledger analysis platform XRPScan's aggregation, was 8,194,963. Among these, only 81,080 accounts belong to the top 1%, and to enter this segment, one must hold at least 44,596 XRP.

The required quantity gap widened sharply as one moved up to higher tiers. The threshold for the top 10% was 2,127 XRP, including approximately 810,804 accounts, while the top 5% required 7,459 XRP, and the top 4% required 10,020 XRP. Furthermore, it was analyzed that the top 3% needed to hold 14,002 XRP, and the top 2% needed 21,757 XRP to enter. The holding threshold more than doubled in the transition from the top 2% to the top 1%, highlighting a significant concentration of assets towards large whale accounts.

In reality, the entities holding the largest volumes are Ripple Inc. and major cryptocurrency exchanges. As of September, Ripple co-founder and Chairman of the Board Chris Larsen holds approximately 2.53268 billion XRP across 6 accounts. Among exchanges, Upbit recorded the largest volume for a single exchange, storing 6.41691 billion XRP across 11 accounts.

Experts pointed out that statistics based on account numbers do not necessarily match the actual number of individual investors. This is because structural distortions exist where one person operates multiple distributed wallets, or a single exchange wallet, holding assets for numerous customers, is counted as a whale account. However, account-based quantity distribution is considered a key on-chain indicator for understanding asset concentration within the ecosystem and the accumulation patterns of individual investors.

[Key Article Summary]

-Among the 8.19 million active accounts on the XRP Ledger, the entry criterion for the top 1% was confirmed to be a minimum of 44,596 XRP.

-The top 10% required 2,127 XRP, and the top 5% required 7,459 XRP, showing a sharp increase in the required quantity for higher tiers.

-There is a severe concentration of assets around Ripple Inc. and major exchanges, with Upbit recording the largest balance among exchanges at 6.41691 billion XRP.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*