- XRP wallets below 0.1% decline, larger holders dominate market.
- Top 10% XRP holders grow, but balances continue shrinking slightly.
- XRP concentration increases in fewer hands, signaling market shifts ahead.
Recent XRP rich list data reveals a shifting trend in the distribution of XRP across different wallet categories. While the number of accounts holding significant portions of XRP has risen, the balances within these accounts have shown a consistent decline.
Currently, XRP is trading at $2.87, which makes this trend particularly relevant for investors and analysts alike. According to @Cryptobilbuwoo0 on X, the XRP holdings in wallets that fall under the top 0.1% are continuing to decline, prompting many to closely monitor the evolving landscape.
Declining Balances in the Top 0.1% and Top 10% Holders
A closer look at the XRP rich list reveals a startling trend. Although the number of accounts holding at least 0.1% of the total XRP supply has increased from 6,166 accounts in February to 7,013 in September, the balance held by these accounts has declined over the same period.
In February, the balance of XRP in these accounts averaged 400,000 XRP. However, by September, this figure had dropped to 359,954 XRP, reflecting a steady decline in the balance despite an increase in the number of accounts.
Also Read: XRP Holder Alleges Deceit, Says ‘The Wild West of Crypto Is Over’ – Here’s Why
Similarly, accounts in the top 0.01% category also show a stable increase in the number of holders from 617 accounts in February to 701 in September. However, the balance held by these top-tier accounts has remained relatively stable at 6.43 million XRP, indicating less volatility in this category.
Top 1% Holders: Increasing Accounts, Decreasing Balances
The top 1% holders of XRP show a similar trend. The number of accounts in this category has increased from 61,663 in February to 70,125 in September, but the average balance per account has decreased.
In February, the balance in the top 1% accounts was 53,338 XRP, but by September, this had dropped to 49,032 XRP. This shows that while more accounts are entering the top 1% category, the balance of XRP per account is consistently falling.
Top 10% Holders: Increased Accounts, Reduced Balances
The most significant shift is seen in the top 10% category. While the number of accounts holding over 10% of XRP has grown from 616,626 in February to 700,345 in September, the balance per account has steadily decreased.
In February, accounts in the top 10% category held an average of 2,501.58 XRP. By September, this figure had dropped to 2,330.70 XRP, indicating that even though more accounts are holding XRP, the amount held by each account is shrinking.
Growing Centralization Amid Declining Balances
These trends show a clear picture: while the number of accounts in the top categories of XRP holders has steadily increased, the balances within those accounts are steadily declining. This decline in balance is evident across all the top categories, with the most notable decreases in the top 0.1%, top 1%, and top 10% holders.
This pattern could reflect a variety of factors, such as market sell-offs, diversification into other assets, or shifts in investor behavior as the XRP ecosystem matures. With XRP currently trading at $2.87, these declines in balance could signal a potential shift in market dynamics, with larger holders possibly consolidating or distributing their XRP holdings.
Also Read: XRP Holder Alleges Deceit, Says ‘The Wild West of Crypto Is Over’ – Here’s Why
