Ripple’s XRP has been making quite the headlines after the tumultuous relationship between the firm and the SEC ended. Ripple was ordered to pay a staggering $125 million in fines, which affected the price of XRP, causing it to dip.
At press time, the altcoin was trading at $0.57, with a 2.73% drop over the past 24 hours. However, the asset surged 22% throughout the last seven days, following a 44% rise in daily volume.
Steps to Join the XRP Rich List
Current Market Status
While the asset is currently undergoing a slump, the chances of investors getting on the XRP rich list weren’t too bleak. Edo Farina, the CEO of Alpha Lions Academy, revealed how to get among the top 10% of the biggest wallets of the XRP network.
Required XRP for Top 10%
In a video, Farina claimed that 3,011 XRP was sufficient to be added to the list. Farina noted that, as of June 2024, about 3,299 XRP were needed to rank in the top 10%.
However, after the price of XRP spiked, the minimum quantity of XRP required to fall into this category was reduced to 3,011. This indicates a decrease of 8.72% in just three months. With XRP trading at $0.5643, these 3,011 XRP tokens cost $1,699.
Required XRP for the Top 5%
In addition, he also emphasized the quantity of XRP needed to rank in the top 5% of the largest XRP wallets. Farina pointed out that 10,099 XRP tokens are required to fall into this category.
Also Read: Ripple (XRP) And Binance Coin (BNB) Price Prediction For August 2024
Number of XRP Wallets
According to Farina, only 523,615 wallets contain at least 3,011 XRP. Although many wallets are in the top 10% of the XRP rich list right now, he said that a person can have more than one wallet.
Also Read: Ripple: XRP Price Prediction Turns Bullish This Week
Farina noted that investors who possess 10,000 XRP are considered sharks. There are 252,594 wallets in this group.