XRP’s growth this year is remarkable. With the market capitalization increasing by billions, the popularity of this cryptocurrency only seems to increase. But how many people actually own XRP?
XRP Growth in 2023
This year, XRP has experienced an impressive 73% growth, increasing its market capitalization by more than $12 billion. This growth has not gone unnoticed in the crypto world.
Number of wallet addresses
On October 27, Santiment data showed that there are 4.82 million addresses holding at least 1 XRP. However, it must be emphasized that the XRP Ledger is a pseudonymous network. This means that one person can manage multiple addresses. Therefore, the exact number of individual XRP holders remains a mystery.
Historic growth
The first registration of an XRP wallet took place on December 6, 2012 and was in the hands of Ripple itself. Since then, an average annual growth of 438,180 addresses has been observed. We recorded a remarkable increase especially from 2018, which led to the current number of 4.82 million addresses in 2021.
Comparison with Kabul
Putting these numbers into perspective, the number of XRP addresses is comparable to the population of Kabul, the capital of Afghanistan, which is approximately 4.6 million. Even more interesting, the value of this “XRP population” is approximately $29.48 billion. This is significantly more than the GDP of all of Afghanistan!
Concentration of wealth
While many addresses hold XRP, it is important to note that much of the capital is concentrated among a small number of owners. Data from CoinCarp shows that the top 10 addresses hold more than 11% of the total XRP supply, which amounts to approximately $3.24 billion. These top holdings are mainly Ripple and various cryptocurrency exchanges.
Source: BTC Direct
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Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
