New EY research on corporate crypto investments for 2024 revealed that XRP has risen to the fourth place among corporate cryptocurrencies.
XRP Growth Among Corporate Investors
According to the EY report, almost 80% of the responses were from the US and EMEA. Among current holders, XRP holdings increased to just above 20%, positioning it as the fourth most held corporate digital asset after Solana (24%), Ethereum (78%), and Bitcoin (98%). This underscores XRP’s importance in corporate investor portfolios despite tough competition from other major cryptocurrencies.
Nium Expands with JPMorgan
Ripple's partner, Nium, has started using JPMorgan Payments to enhance their customer service capabilities through collections and global FX rails. This development may indicate that Nium is seeking alternatives to Ripple’s products or simply increasing the operational options of its platform.
Market Impact and Predictions
CNF noted that wealth advisor Mickle ODL Ripple believes this move will encourage market makers to accumulate XRP. He claims that market participants will hold XRP due to the demand created by ODL and related operations. This, coupled with the limited number of tokens, has the potential to drive the XRP price higher in the foreseeable future. At the time of writing, XRP was trading at approximately $0.5875, down 1.54% over the last 24 hours.
Despite the recent decline in value, the long-term prospects for XRP remain positive due to growing corporate interest and efforts by partners to expand the platform.
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