'Dogecoin Millionaire' Says He's Been Accumulating XRP Since $0.40

XRP's XRP/USD has surged 12% over the past week, fueled by a spike in whale transactions and a sharp increase in active addresses.

Cryptocurrency	Price	Market Cap	24-Hour Trend	7-Day Trend
XRP XRP/USD	$2.48	$143.9 billion	+1.1%	+12.2%
Dogecoin DOGE/USD	$0.2016	$29.9 billion	+2.5%	-0.4%
Shiba Inu SHIB/USD	$0.00001315	$7.8 billion	+1.6%	-6.1%

Trader Notes: Glauber Contessoto, the ‘Dogecoin millionaire,’ detailed that he heavily accumulated XRP, Dogecoin and Cardano in 2022 and 2023 at rock-bottom prices: XRP at $0.40, Cardano at $0.24 and Dogecoin at $0.05. He describes these as “tried and true projects” and believes patience will pay off.

Crypto analyst MartyParty raised concerns about XRP's valuation vs. its actual utility, pointing out that XRP processes 6x more transactions per second (7.84) than Cardano but remains 165x behind Solana SOL/USD in adoption.

Despite XRP's massive $144.5 billion market cap, its network has not been tested at the scale needed to handle high trading volumes.

He warns that if put under stress, both XRP and Cardano could face a 90% collapse due to potential network failure.

He also questions whether XRP and Cardano can function as true “Stores of Value” given their relatively weak node security compared to Bitcoin.

Since they are weak both as execution networks and as stores of value, he questions why their valuations remain so high, implying that their prices are propped up by speculation rather than real utility.

Statistics: Crypto chart analyst Ali Martinez highlighted a massive 620% spike in XRP active addresses over the past week, jumping from 74,589 to 462,650.

Over $5.37 billion worth of XRP was moved in the last 24 hours, with whales purchasing 1 billion XRP in a single day.

The number of active $XRP addresses has skyrocketed by 620% in the past week, climbing from 74,589 to 462,650! pic.twitter.com/eesFlnJw24
— Ali (@ali_charts) March 5, 2025

Altcoin Buzz stated that German's largest bank Dekabank is looking at Ripple for its crypto services.

Community News: Ripple CTO David Schwartz reacted on a X banter between VP, Research at Riot Platforms and a crypto trader who assumed that XRP Ledger has a secret mint button to create an XRP. Schwartz shut down speculation on X (formerly Twitter) that the XRP Ledger has a hidden mint function, confirming that no network rule allows new XRP creation.

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