XRP Wealth Distribution List Surfaces
XRP has been in the spotlight a lot these days, and Ripple’s digital asset seems to be in the middle of a push.
We just reported that Crypto analyst and BlockTV reporter Joe Saz said that he believes Ripple’s digital asset XRP may be facing a fundamental market weakness that will continue to drive the price of XRP even lower than it is now.
He is certain that we have a “descending volume going into a pennant formation, with equal possibilities on both ends of that spectrum.”
At the moment of writing this article, XRP is trading in the red on CMC and Ripple’s digital asset is priced at $0.267780.
The XRP Rich list has been just updated
It’s been just reported that the founder of Ripple-backed XRPL Labs has updated the XRP Rich list.
Wietse Wind said that the overview of the biggest XRP addresses in existence now is showing accounts, balances and whether an exchange or business owns a certain wallet if the data is available.
Daily Hodl notes that “The new data shows just 0.01% of all XRP addresses hold more than 14,400,000, which is worth about $3.8 million at time of publishing.”
The same online publication writes that “The numbers show addresses having a balance between 9,575 and 133,565 XRP have been on the rise over the last month. At the same time, addresses with 344,523 XRP or more have remained relatively flat.”
We recommend that you check out the full Rich list.
Bloomberg’s XRP analysis
In other Ripple and XRP-related news, Bloomberg released a report that is citing Ripple’s ownership of more than half of the supply of XRP and the routine sale of the digital asset as reasons that could have triggered the sluggish performance of XRP.
Ripple responded to Bloomberg and, among others, the San Francisco-based company said:
“Sales had been tied to trading volumes reported by exchanges, and recognizing that some platforms were misreporting volumes, Ripple has ‘substantially reduced XRP sales,’ a trend that’s expected to continue this quarter.”
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.