XRP Holdings by Corporates Now Over 20%, Rising in Popularity
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In a tweet, noted XRP observer WrathofKahneman revealed some interesting insights into the state of corporate crypto investments, as reported in the EY research on corporate crypto investment for 2024.
According to the report, almost 80% of responses were from the United States and EMEA. Among current holders, XRP holdings increased slightly, reaching just above 20%.
The Ripple token, XRP, has now risen to fourth place among corporate digital assets, trailing only Solana (24%), Ethereum (78%), and Bitcoin (98%). This placement emphasizes XRP’s importance in corporate investor portfolios, despite severe competition from other major cryptocurrencies.
In another tweet, Kahneman mentioned that Ripple’s partner, Nium, has started using JPMorgan Payments to improve their customer service capabilities through collections and worldwide FX rails.
This development shows that Nium is looking for alternatives to Ripple’s products, or that it is just increasing the capabilities of its platform by introducing more operational options.
On the other hand, CNF noted that wealth advisor Mickle ODL Ripple feels that this move will encourage market makers to accumulate XRP. He claims that market participants will hold XRP because of the demand that ODL and related operations will create.
This, together with the restricted number of tokens, has the potential to drive the Ripple token price higher in the foreseeable future.
At the time of writing, XRP was trading at roughly $0.5875, down 1.54% over the last 24 hours, putting it even farther below the key $0.60 mark.
