- Edo Farina reveals that 3,011 XRP is the new threshold to join the top 10% of XRP holders, down from 3,299 in June 2024.
- Investors need 10,099 XRP to rank in the top 5% of XRP holders, while 61,237 XRP secures a spot in the elite top 1%.
- The analyst highlights a bullish technical pattern, signaling an opportune time to accumulate XRP for long-term gains.
Renowned crypto analyst Edo Farina recently revealed the updated thresholds for investors to join the top tiers of XRP holders worldwide. In a recent X post, Farina highlighted that as of August 2024, an investor needs just 3,011 XRP to secure a spot in the top 10% of wallets.
Farina noted that 523,615 wallets currently hold at least 3,011 XRP but emphasized that one person might control multiple wallets. This trend suggests that while the number of wallets may appear high, the number of unique top 10% holders might be lower.
The analyst outlined in an X video that the requirements for those aspiring to climb higher to enter the top 5% and top 1% of XRP holders. To be in the top 5%, investors must hold at least 10,099 XRP, which would cost approximately $5,643 at current prices. Farina labels these holders as sharks, noting that 252,594 wallets fall into this category.
Achieving whale status, or being in the top 1% of XRP holders, requires a significantly larger holding of 61,237 XRP, equivalent to around $34,556. Farina disclosed that 52,361 wallets meet this threshold, indicating a much smaller, elite group of XRP investors.
Farina advocates for the Dollar Cost Averaging (DCA) strategy to accumulate XRP gradually, particularly for those targeting the 10,000 XRP mark. He suggests holding this amount positions investors for substantial gains if XRP reaches projected price points between $10 and $100.
Another respected analyst, Alex Clay, expressed a strong bullish outlook for XRP, highlighting a significant technical pattern. Clay pointed out the emergence of a symmetrical triangle within a larger symmetrical triangle on the XRP charts. According to Clay, this pattern signals that accumulating XRP at current levels could be an excellent long-term strategy.
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Clay believes the current price levels present a favorable entry point for investors aiming to maximize future gains. He remains confident that XRP’s long-term trajectory is positive, making now an opportune time to build a position in the cryptocurrency. His analysis adds weight to the growing sentiment that XRP could experience significant appreciation in the coming years.
These analyst insights offer a clear strategy for investors looking to grow their XRP portfolios and seize upcoming market opportunities. By following these guidelines, investors could benefit from potential future gains in the XRP market.
