Recent comments from crypto analyst CryptoTank drew attention to a long-standing misconception about the size of the XRP community. His post focused on the widely cited figure of 7 million XRP wallets and explained why this number does not represent the actual number of holders.
Clarification will be provided once XRP is introduced. It is currently located at begin to receive inflows from institutional investors from We recently launched Canary Spot XRP ETF.
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Why the number of wallets and the number of owners do not match
crypto tank almost 7 million wallets holding XRP does not mean millions of people own the asset. He personally manages about 30 wallets and noted that most avid XRP investors tend to operate between 4 and 6 wallets on average. This means that a single individual can appear multiple times in on-chain statistics, making the total number of wallets an unreliable indicator of the actual number of participants.
The idea is simple. He believes the actual number of XRP holders is much lower than many assume, with the actual number comfortably below 1 million people worldwide. This shows that the community is still in its infancy compared to other major digital assets. If only a fraction of these 7 million addresses belong to unique individuals, those holding XRP today represent a much smaller and much older group than estimates suggest.
CryptoTank describes the group as “far ahead” of the world, meaning current holders occupy a position that could become much more valuable if they eventually gain broader participation.
The small holder base means that Demand has expanded significantly, Since XRP price has not yet experienced the large inflows seen in past cycles for Bitcoin and Ethereum, this could have a significant impact on the price, whether from retail or institutional investors.
Institutional Expansion with Spot XRP ETF
This discussion comes at an important time for XRP, especially with the introduction of the newly launched Spot XRP ETF in the US. product Further expanding the scope of XRP The initial holder group will also allow institutions and retail traders in regulated markets to invest in the cryptocurrency.
If the true population of XRP holders is small, the arrival of ETF demand could be a major turning point. As inflow increases, this new access point could be the beginning of a transition from the initial holder community to broader institutions and retailers.
Speaking of inflows, Canary’s Spot XRP ETF Started the first full trading day According to SoSoValue data, on November 14th, there was an inflow of $243.05 million.
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this not reflected in price However, XRP is decreasing as the cryptocurrency is declining along with the rest of the market. At the time of writing, XRP is trading at $2.26, down 1.4% in the past 24 hours.
Featured image from Unsplash, chart from TradingView
