$XRP Millionaires Rise as Crypto Hits New Highs

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The number of $XRP token holders with at least one million tokens on the cryptocurrency ledger has now passed the 1,900 mark, as an accumulation trend sparked earlier this month was sparked by a surge in investor sentiment.

According to data from the channel, there are now 1,988 XRP wallets holding at least one million XRP, with 1,451 of these wallets equaling 72% of total balances between 1 million and 5 million XRP. These wallets together hold a cumulative balance of a staggering 2.69 billion XRP, which translates to a valuation of $2.08 billion.

As noted, the data also points to 172 wallets between 5 and 10 million XRP, which hold a total of 1.19 billion tokens. Another breakdown reveals 150 wallets with balances between 10 million and 20 million XRP, and 56 wallets holding an amount of XRP between 100 million and 500 million.

Despite the growing demand for the cryptocurrency, wallets holding more than 500 million XRP have not seen a significant increase. There are currently 23 wallets with balances ranging from 500 million to 1 billion XRP, and just four accounts exceeding 1 billion XRP, which are likely attributed to exchange wallets.

The on-chain data further reveals that the total number of wallets holding XRP is now 4,705,298, demonstrating a recovery from a mid-June low of 4,659,167, likely triggered by the removal of over 85,000 XRP wallets by Poloniex.

Source: CoinCarp

Notably, the XRP token has seen its trading volume skyrocket to overtake that of flagship cryptocurrency Bitcoin ($BTC), with Ripples CTO David Schwartz claiming that XRP’s volume as a percentage of market cap quadruples that of BTC.

As CryptoGlobe reported, various analysts were bullish on the cryptocurrency following the release of the decision, with a popular crypto analyst recently revealing that he sees the price of cryptocurrencies skyrocketing to $6.

Earlier, analyst Michal van de Poppe focused on XRP saying he was looking at a potential downward adjustment to around $0.65. This decline, however, is of no concern as Van de Poppe believes it could pave the way for a bullish resurgence. According to his analysis, the post-bottom rally could push the value of XRP to a high of $0.90.

Featured image via Pixelabay.

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