XRP Rich List Update Reveals How Much You Need Now to be Among Top 10% and Top 1%
The latest update of the XRP rich list shows that while the amount of XRP tokens necessary to reach the top 10% and top 1% has reduced, the capital for acquiring these tokens has increased.
Notably, this is largely due to XRP’s impressive surge in recent times, as it rallied with the broader crypto market to reach new yearly highs. For context, XRP soared rapidly to a peak of $3.66 in late July before pulling back as July came to a close. Despite the pullback, XRP still holds above $3, up 32% in the past month.
Amid the recent price movements, data from the community-driven XRP rich list resource shows that the amount of XRP tokens you need to hold as an individual to become part of the top 10% and the top 1% has dropped considerably.
At the time, the 2,486 XRP were worth $5,643. Today, while they need 2,433 XRP to hit the top 10%, the tokens are worth $7,299. This represents an increase of nearly $2,000 to enter the top 10 in less than a month despite the number of tokens seeing a drop.
This trend also prevailed across other tiers of addresses within the XRP rich list. For instance, on July 7, one needed to hold 8,758 XRP worth $19,880 to be part of the top 5%. Today, the investor would have to possess 8,517 XRP, currently worth $25,551, to enter this tier, an increase of over $5,000.
Interestingly, one of the most drastic changes occurred with the top 1% tier.
At the time of the previous XRP rich list report, investors looking to enter this tier required 50,637 XRP valued at around $115,000 then. Now, while investors would need to hold 50,108, they would have to spend $150,000, an increase of more than $35,000.
Market Still Early?
Analysts argue that this consistent change indicates that investors who continue to put off investing in XRP would only be able to afford less for more as the market matures. Market pundit Edoardo Farina called attention to this trend in June, when he suggested that XRP was pricing out retail investors.
Moreover, several community commentators have insisted that investors who enter the market today are still incredibly early. This is because they expect XRP to surge beyond current levels. For context, if XRP hits the $30 price projected by EGRAG, the 2,433 tokens needed to enter the top 10% would be worth nearly $73,000.