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XRP Holders: A More Educated and Affluent Group?
A recent report from the Bank of International Settlements (BIS) has sparked discussions in the cryptocurrency community. According to crypto analyst Cool Breeze, this report commends XRP holders for their higher level of education compared to Bitcoin enthusiasts. The report also suggests that XRP holders tend to be wealthier than the average cryptocurrency investor.
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Educational and Economic Insights from the BIS Report
The BIS report, highlighted by Cool Breeze on social media platform X, ranks XRP and Ethereum holders as the most educated within the crypto sphere. In contrast, Litecoin (LTC) holders are perceived as the least educated, with Bitcoin owners falling in between. The report, published in 2021, indicates that crypto investors generally have above-average household incomes, with Ethereum, Stellar, and XRP holders leading the pack in terms of wealth. However, it’s important to note that these findings may have evolved since the report’s release.
Long-Term Ownership’s Impact on Cryptocurrency Investments
The report further estimates that owning a cryptocurrency for one year increases the likelihood of ownership in the following year by 50%. Known for their steadfast belief in XRP, the ‘XRP Army’ has maintained their investment even amidst the SEC’s prolonged legal battle against Ripple, which adversely affected XRP’s market value.
Legal Advocacy and the Ripple Case
Pro-XRP attorney John Deaton has lauded XRP holders for their pivotal role in Ripple’s litigation against the SEC. These investors, alongside Deaton, submitted an amicus brief to the court, arguing why XRP should not be classified as a security, as alleged by the SEC. Ultimately, the court ruled in favor of XRP, determining it was not a security.
Growth Trends Among XRP Holders
According to data from on-chain analytics platform Santiment, the number of XRP holders is on the rise, with the XRP Ledger (XRPL) surpassing 7.7 million holders for the first time since its inception. This increase coincides with a growth in network usage, driven by the tokenization of more real-world assets.
XRP Ledger’s Recent Milestones
The XRPL recently achieved a 5-week peak of 46,767 active addresses, coinciding with a 14% surge in XRP’s price, which exceeded $1.60. Despite Chainlink community member Zach Rynes labeling the network a ‘ghost chain,’ Cool Breeze advises XRP holders to disregard what he describes as a ‘hate campaign.’ He emphasizes XRP’s superior performance against Bitcoin compared to Chainlink. Currently, XRP is trading at approximately $1.52, although it has seen a slight decline in the past 24 hours, as reported by CoinMarketCap.
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