Ripple (XRP): A Closer Look at Institutional Investors Holding the Crypto
When it comes to institutional investors participating in the crypto market, Ripple (XRP) has secured its position as the fourth most popular choice among these entities. According to a recent study conducted by the reputable international consulting firm EY-Parthenon, Ripple (XRP) has garnered significant attention from institutional investors, solidifying its presence in the crypto space.
Ripple (XRP): Institutional Investor Adoption
- Over 20% of institutional investors interviewed revealed that they hold XRP in their portfolio.
- The study also highlighted that Bitcoin (BTC) remains the most favored crypto among institutional investors, with 98% of them being holders of BTC.
Who are the Institutional Investors Opting for Ripple (XRP)?
- The survey involved 277 institutional investors, including portfolio managers, CEOs, and COOs.
- A significant percentage of respondents hailed from the USA and Europe, with representation from other regions like Latin America, Canada, and Asia-Pacific.
For institutional investors, Ripple (XRP) seems to be a popular long-term investment choice, with 20% of respondents vouching for its potential. Despite facing regulatory challenges, Ripple has managed to maintain its position among the top 10 largest cryptocurrencies globally. The recent legal victory against the U.S. Securities and Exchange Commission in August 2024 has further solidified Ripple’s standing in the market.
Ripple’s Mission to Engage with Elon Musk for X Payments
Ripple made headlines recently for its initiative to persuade Elon Musk to integrate XRP into his payment platform, X Payments. This strategic move aimed to leverage Ripple’s legal triumph against the SEC, enticing Musk to explore the benefits of incorporating XRP into his ecosystem.
- Lawyer Fred Rispoli advocated for Musk to consider XRP, emphasizing the potential legal advantages it could offer in challenging regulatory hurdles.
- As of the latest update, XRP is priced at $0.59 and holds the seventh spot in the crypto market with a market capitalization of $33.3 billion.
Following the legal victory in August, XRP witnessed a price surge, surpassing $0.66 and marking a notable peak in the past few months. While the current price is significantly below the all-time high of $1.75 recorded in April 2021, XRP’s performance reflects its resilience and appeal to investors.
Hot Take: Ripple’s Position among Institutional Investors
A survey unveiled that more than 20% of institutional investors are proud holders of Ripple (XRP), underscoring its popularity and credibility among this segment of the crypto market. Positioned as the fourth most “held” crypto by institutional investors, Ripple continues to attract attention and secure its foothold in the ever-evolving digital asset landscape.
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