Main Points:
- XRP’s Popularity: According to a survey by Coinbase and EY-Parthenon, 34% of institutional investors hold XRP, making it the most popular digital asset among non-Bitcoin and non-Ethereum cryptocurrencies.
- Diverse Holdings: The survey of 352 decision-makers in January revealed that 73% of investors hold cryptocurrencies beyond Bitcoin (BTC) and Ethereum (ETH). XRP leads these holdings, followed by Solana (30%), Dogecoin (25%), and Chainlink (12%).
- Potential for ETP Adoption: A notable 68% of respondents expressed interest in purchasing single-asset exchange-traded products (ETPs) based on altcoins like XRP and SOL.
- ETP Fund Flows: While many major cryptocurrency ETPs have experienced net outflows recently, XRP’s ETP has attracted inflows—about $1.8 million last week—highlighting growing investor confidence.
- Technical Outlook: On monthly charts, XRP is breaking out above a symmetric triangle pattern, fueling long-term price projections that suggest XRP could potentially surge to as high as $15 per token.
1. Survey Insights on Institutional Holdings
A recent survey conducted by Coinbase and EY-Parthenon, which involved 352 decision-makers, found that a significant majority (73%) of institutional investors hold cryptocurrencies other than Bitcoin and Ethereum. Notably, XRP emerged as the most favored asset among these altcoins—with 34% of survey participants reporting ownership. This is slightly higher than the figures for Solana (30%) and Dogecoin (25%), while Chainlink trailed at 12%.
2. Growing Interest in Altcoin ETPs
The survey further revealed that 68% of respondents are open to investing in single-asset exchange-traded products (ETPs) based on cryptocurrencies like XRP and SOL. Despite overall net outflows from cryptocurrency ETPs (with $1.69 billion leaving the market in the period between March 10 and March 15), XRP’s ETP managed to secure an inflow of approximately $1.8 million. This contrast underscores a renewed institutional confidence in XRP.
3. Technical Analysis and Long-Term Outlook
Technical charts show that XRP has recently broken out above a symmetric triangle pattern on its monthly chart. This breakout has bolstered some long-term forecasts, with predictions suggesting that XRP could potentially climb as high as $15 per token. This optimistic view, combined with strong institutional adoption, positions XRP as a key asset to watch in the evolving digital asset landscape.
