20% Institutional Investors Hold XRP, Study Confirms
The cryptocurrency market has several kinds of investors, including retail, institutional, and whales. While retail investors include the average Joe, institutional investors are bigger firms.
Institutional Investment in XRP: A Comprehensive Analysis
According to a recent study conducted by international strategic consulting firm EY-Parthenon, more than 20% of institutional investors admitted to investing in XRP.
Study Participants and Demographics
277 institutional investors, including portfolio managers, CEOs, and COOs, participated in the study. The respondents were asset owners, hedge funds, wealth managers, family offices, and asset managers.
At least 147 of them were from the United States, and about 90 respondents were from Europe. Institutional investors from Latin America, Canada, and Asia-Pacific (APAC) were among the others polled. A member of the XRP community brought this to light.
Also Read: Ripple: AI Predicts XRP’s Price For September 1, 2024
Cryptocurrency Allocation Among Institutional Investors
The image shows that they have allocated most of their cryptocurrency to Bitcoin (BTC) and Ethereum (ETH).
About 78% of respondents revealed that their companies were invested in ETH, whereas 98% agreed that their companies were allocated to BTC. In addition, Solana (SOL) stood before XRP, with 24% of investors in its market.
Also Read: Crypto Legalization: Russia’s Central Bank Leads the Way for Investors
XRP’s Market Performance and Future Predictions
At press time, XRP was trading at $0.5964, following a slight drop over the past 24 hours. Unlike the rest of the market, the asset saw a much slower rise of just 2% throughout the week.
According to data from Changelly, XRP is slated to have a bullish week. Following a 35% rise from its current level, XRP could surge as high as $0.82000.
Also Read: Top 3 Cryptocurrencies To Watch This Week: August-End 2024
A rise like this could be revolutionary for its holders and put an increased number of them at a profit.
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