50 million dollars in XRP to the Federal Reserve? How many distinctive symbols you need to join 1 % club?
The price of XRP was a strong week with a pump about 6 %, which means that it is now circulating by about $ 2.17. Given that Ethereum has already lost 4.5 % in the price during the same period, it is safe to say that XRP holders can be somewhat happy with how this week.
Meanwhile, one of the XRP Edo Farina’s encryption analysts, which was explicit about this distinctive symbol on X, now released a viral video clip of its 35 thousand subscribers On YouTube.
XRP Communication of the government
Brad Garlinghouse, CEO of Ripple recently, has recently shared that the United States government may get XRP at a value of $ 50 million. This may be the SEC fine settling that Ripple should pay after the court case.
Today’s price of $ 2.17, about 23 million XRP symbols. This would make the US government one of the largest XRP holders in the world. They may even join the top 0.01 % of all XRP portfolios. Currently, only 638 wallets in the world have more than 5 million XRP.
This conversion is interesting because it allows the government the XRP contract without buying it directly. Varina believes that XRP may already be in the hands of the government through secret agreements. These deals may remain hidden until they are ready to announce them.
Some people think this may mean that XRP may become a new global backup. The government can get XRP the first step towards this larger role.
Why does the government want XRP?
The main reason is to use XRP as a bridge currency. Central banks are already carrying foreign funds for similar reasons. XRP can replace the old system of previously funded accounts to send money across the border.
If XRP becomes a tool for global payments, the Federal Reserve may add it to its public budget. This will be a huge sign that large institutions have started to use XRP.
Varina also talks about what makes someone the top XRP holder. If you have 2500 XRP, you are at the top of 10 % of all holders. With 8,970 XRP, up to 5 %. And if you want to join the exclusive 1 % club, you need about 51000 XRP icon.
In his video, Farina suggests that XRP can play a big role in how to make money in the future. He believes that the current price may be a good entry point before any official news appears about the government’s possessions. But remember that all this is still speculation, and you should always do your own search before buying any encryption.
Also read: It is (almost) on XRP: Ripple and SEC File Coint Motion Settlement – What happens after that?
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