The data showing over 6 million wallets hold ≤500 $XRP is telling a story of two very different markets. While it highlights retail participation, the concentration among large wallets and the ~16B XRP on exchanges suggests any "supply shock" narrative is premature.
My read? Lawyer Bill Morgan is right: XRP still primarily moves with #BTC. This distribution data is more about future potential pressure points than current price drivers. The real story is psychological: as buying 1,000 XRP gets more expensive, retail accumulation slows, potentially making the asset more volatile and whale-driven in the long run. It's a structural shift, not a bullish catalyst.
Are you accumulating XRP in this range, or waiting for a clearer decoupling from Bitcoin's trend?