A survey revealed that more than 20% of the institutional investors interviewed stated that they are holders of the crypto Ripple (XRP).
The ranking sees Bitcoin (BTC) in first place with 98% institutional holders, followed by Ethereum (ETH), Solana (SOL), and, in fourth place, Ripple.
Ripple (XRP): in fourth place as the most “held” crypto by institutional investors
According to the study by the international strategic consulting firm EY-Parthenon, it appears that Ripple (XRP) is in fourth place as the most held crypto by institutional investors.
EY report on corporate crypto investment in'24 (May). About 80% of respondents were US & EMEA. Among current holders, #XRP holdings ticked up to just above 20%.https://t.co/CgQpQL6f34 pic.twitter.com/APIUByJcQ9
— WrathofKahneman (@WKahneman) August 25, 2024
EY report on corporate investments in cryptocurrencies in ’24 (May). About 80% of respondents were from the United States and the EMEA region. Among current holders, holdings in #XRP have risen to just over 20%.
Specifically, over 20% of institutional investors interviewed claimed to hold XRP in their wallet.
Looking at the overall ranking, institutional investors responded that 98% are holders of Bitcoin (BTC) and 78% of Ethereum (ETH). Ripple was preceded by Solana in third place, with 24% of this category of investors being holders of SOL.
Unlike retail investors, often considered as the “average man,” behind institutional investors there are larger companies.
Ripple (XRP): who are the institutional investors holding the crypto?
The participants of the survey were 277 institutional investors, including portfolio managers, CEOs, and COOs.
Specifically, the interviewees were asset owners, hedge fund, asset managers, family office, and asset managers.
At the demographic level, there are at least 147 of the respondents coming from the USA, and 90 from Europe. Other nations involved in smaller percentages are then Latin America, Canada, and Asia-Pacific (APAC).
Therefore, for this type of investors, Ripple (XRP) is a long-term investment choice for 20%.
In general, Ripple has managed to remain among the top 10 largest cryptos in the world, despite being targeted by the U.S. Securities and Exchange Commission over the past four years. The endless case involved the accusation of selling XRP, defining it as an unregistered security.
After an initial partial win for Ripple in July 2023, in this August 2024 the case can be considered closed, with Judge Annalisa Torres who issued her historic ruling.
The mission to convince Elon Musk for payments on X
Recently, Ripple has made headlines for its mission to convince Elon Musk to include XRP in his payment platform X Payments.
In this regard, lawyer Fred Rispoli had urged Musk on X, stating that if he had used XRP he could have “challenged the SEC legally.” Obviously, this proposal refers to Ripple’s legal victory against the SEC.
At the time of writing, the price of XRP is $0.59, and it is in seventh place in the overall crypto ranking with a market cap of 33.3 billion dollars.
Immediately after the legal victory in early August, the price of XRP had soared above $0.66, registering a new peak of the last four months. Certainly, the current situation is still very far from the all-time high of XRP recorded in April 2021 at the price of $1.75.
