Analyst Breaks Down Why There Can’t Be 7 Million XRP Holders

The recent analysis by CryptoTank sheds light on the misconception surrounding the XRP community's size, emphasizing that the often-cited figure of seven million wallets does not accurately reflect the number of distinct holders, which is likely under one million. This insight comes at a pivotal moment as XRP prepares to attract institutional investments through the newly launched Canary Spot XRP ETF. In a broader context, the cryptocurrency market is witnessing significant movements, as seen with Solana's recent decline despite ongoing institutional inflows into ETFs, highlighting the volatility and complexity of the crypto landscape.