Most XRP Holders Struggle as Inflation Pressures Grow
Crypto entrepreneur Edoardo Farina warns that many individual holders of XRP may soon be unable to afford their investments due to inflation and financial strain. He notes that owning over 10,000 XRP, valued at approximately $23,100, is becoming increasingly difficult for those living paycheck to paycheck.
Wallet Distribution Insights
- Approximately 6.55 million XRP wallets exist.
- Less than 4% have at least 10,000 XRP.
- Over 5 million wallets hold 500 XRP or fewer.
- More than 166,250 wallets contain between 10,000 and 25,000 XRP.
- 159,566 wallets hold between 5,000 and 10,000 XRP.
Owning more than 10,000 $XRP nowadays is already a luxury few people can afford.
— EDO FARINA 🅧 XRP (@edward_farina)
Impact of Inflation on Holders
Farina highlights that rising inflation pressures ordinary holders to sell their XRP for essential expenses, stating, “We’re already seeing people around the world selling their XRP just to buy groceries.”
The increasing cost of living has shifted ownership of large amounts of XRP from a luxury to a necessity for survival.
Threshold Concerns
Farina has raised concerns that up to 99% of XRP holders could be priced out, igniting discussions within the community regarding wealth distribution among holders.
He questions whether Bitcoin’s rise to about $112,000 reflects actual growth or merely a devaluation of the dollar.
Advice for Holders
Instead of selling crypto, Farina advises holders to seek additional income sources, such as side jobs. He emphasizes the importance of holding onto XRP if they believe in its long-term value.
Market movements are influenced not only by inflation but also by legal developments, including Ripple's ongoing court case and ETF filings, which could affect XRP's trajectory. Retail investors are encouraged to strategize their purchases and stay informed about market trends and personal finances.