20% Institutional Investors Hold XRP, Study Confirms

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.