Ripple Whale: It Only Takes $20,000 To Become a XRP One-Percenter

How cryptocurrencies like Bitcoin or XRP are distributed can impact a specific asset’s success, both in terms of trust in the asset, but also how scarcity might affect an asset’s long-term value.
And while XRP is often the target of much distaste surrounding the way the asset was distributed, becoming a Ripple whale and joining the top 1% of all XRP holders doesn’t take a lot of initial capital.
It Costs $20,000 To Become a XRP Whale
Because cryptocurrencies like Bitcoin and XRP are new, emerging technologies that are also financial assets, analysts look at a number of different data points to attempt to determine a fair market value. One such metric that’s often looked at, is the distribution of each asset across wallets, including the percentage breakdown of how many wallets are holding different levels of assets.
Related Reading | Crypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support 
One crypto analyst has shared a chart that reveals the average assets held across the top 10% of XRP holders. The data shows that to become a “one-percenter” in XRP – a term coined to show high wealth inequality against the other 99% of the population – one only needs to hold roughly $20,000 in Ripple at today’s prices of 26 cents per XRP token.

Libra Association Exec: Bitcoin is Digital Gold, Very Different to Libra
Wednesday October 16, 2019

David Marcus has stated that he is a fan of the original crypto asset. The newly-appointed member of the Libra board of executives added that differences between the currency, originally detailed by Facebook in...

The post Libra Association Exec: Bitcoin is Digital Gold, Very Different to Libra appeared first on 12bitplay - Bitcoin Play.

A simple breakdown of what it takes to be in the top 10% of $XRP holders. Came across this and thought it was pretty interesting. If you are holding more than 70,000 XRP you are in the top 1% of holders. pic.twitter.com/kt6fEdvcBj
— Credible Crypto (@CredibleCrypto) September 15, 2019

Renowned Bitcoin Artist Encourages Venezuelan Artists Spread the BTC Word
Monday October 14, 2019

Perhaps the most well known Bitcoin artist is on a mission to spread the Bitcoin word in Venezuela. Pascal Boyart has been working with the website SatoshiEnVenezula to help artists local to the South...

The post Renowned Bitcoin Artist Encourages Venezuelan Artists Spread the BTC Word appeared first on 12bitplay - Bitcoin Play.

The table shows that the top 1% of Ripple accounts hold roughly 69,000 XRP on average. To become a one-percenter in Bitcoin, one would need to hold an account containing 10 BTC or more – or the equivalent of more than $100,000.
To be in the top 0.1% of account holders, one would need to hold over 188,000 XRP, and to earn the highest spot at 0.01% of account holders, it would be over a cool $4.25 million USD for under 16.5M tokens.
Holders Divided Due to Ripple Escrow Selling During Downtrend
The distribution of XRP has been a controversial issue as of late. Much of the XRP supply is held in escrow by Ripple Labs, the company tasked with pushing adoption of the crypto asset. The assets held in escrow are unlocked, then sold on the market to fund important Ripple operations.
Related Reading | Will Upcoming Ripple Conference Cause XRP Price to Swell? 
However, the regular selling of XRP assets during a downtrend has caused Ripple and CEO Brad Garlinghouse to come under fire by upset holders. Many Ripple holders, despite being “whales” due to holding such a large supply, could be down by as much as 90% if they bought anywhere near the peak of the crypto hype bubble in late 2017, and early 2018.

US Senators Coercing Libra Partners is Un-American: Coinbase CEO
Monday October 14, 2019

Facebook’s plan to launch Libra came under further pressure after its partners Visa, Mastercard, Paypal, and Stripe announced that they were leaving the digital currency project. And as it turned out, there was some...

The post US Senators Coercing Libra Partners is Un-American: Coinbase CEO appeared first on 12bitplay - Bitcoin Play.

2/ XRP sales are about helping expand XRP's utility – building RippleNet & supporting other biz building w/XRP ie Dharma & Forte. Reality is we DECREASED our sales by volume Q/Q and since then the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.
— Brad Garlinghouse (@bgarlinghouse) August 27, 2019

It’s among the worst-performing altcoins in the top ten crypto assets by market cap, even despite Brad Garlinghouse defending the company saying that Ripple has “decreased” sales by volume quarter over quarter. The continued selling has even prompted a subset of XRP holders to consider forking the asset.
The post Ripple Whale: It Only Takes $20,000 To Become a XRP One-Percenter appeared first on NewsBTC.

You may also like...