1,987 XRP Millionaires Hold More Than 42 Billion – Is This a Healthy Ecosystem? Report

• A small group of 1,987 addresses holds a jaw-dropping 42.73 billion XRP, contributing to over 80 percent of the currency’s total circulating supply.
• Despite a bearish crypto market, specific categories of these “XRP Millionaires” are showing surprising resilience, even as others decline.

New data reveals that a tight-knit group of 1,987 XRP Millionaires currently hold an incredible 42.73 billion XRP. This elite circle dominates more than 80 percent of XRP’s entire circulating supply. Crypto Assets Guy remarks Intriguing numbers coming in from the Ripple universe!

If you hold more than 11,000 $XRP you are on the top 5% holders

LFG 💪🏼

— Crypto Assets Guy (@cryptoassetsguy) August 8, 2023

How does this concentration of wealth shape the XRP ecosystem, particularly in turbulent market conditions? Let’s explore the facts.

The Big Picture: Overall Decline But Not for Everyone

According to a previous report by The Crypto Basic dated August 10, there were 1,997 addresses each holding at least 1 million XRP. As of now, that number has marginally shrunk to 1,987, marking a 0.5% decrease.

A Class That’s Bucking the Trend

While the general trend is a mild decline in the number of millionaire addresses, some categories have displayed unexpected resilience. For example, the number of addresses holding between 5 and 10 million XRP increased from 160 to 168. This resilience reveals sustained confidence among a subsection of XRP millionaires, despite the overall bearish market.

The Categories on the Wane

Conversely, wallets with holdings between 10 and 20 million XRP decreased by three, from 160 to 157. Also, addresses with 500 million to 1 billion XRP dipped by two, now totaling 22.

Billionaires Unmoved by Market Trends

Another compelling data point is that the number of wallets with at least 1 billion XRP remains steadfast at five. These ultra-rich addresses seem immune to market fluctuations, maintaining their position even amid uncertainty.

The Grand Picture: Dominance of Wealth

When it comes to the sheer volume of XRP held by these millionaire addresses, the total figure is a staggering 42.73 billion XRP, currently valued at about $21.6 million. This amount represents a monumental 80.6% of XRP’s total circulating supply.

Cumulatively, these high-value wallets have seen a slight reduction in their total holdings since August 10, when they held 42.92 billion XRP. This change indicates that more than 190 million XRP have left these wallets.

So, while the overall number of XRP Millionaires has declined modestly, the distribution of wealth within this group presents a more complex narrative. The varying trends among different categories of holders could influence the long-term health and stability of the XRP ecosystem.

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