- Linda Jones, an enthusiastic XRP supporter, recently announced that the demand for XRP increases because institutions diversify their portfolios.
- Franklin Templeton has just applied for an XRP ETF, which increased the number of XRP ETF applications to 11.
Recently, institutional investors Ripple (XRP) are increasingly considering as a strategic system to diversify their cryptocurrency portfolios beyond Bitcoin (BTC). According to the financial expert Linda P. Jones, author of 3 Steps to Quantum Wealth, has exceeded Bitcoin by 212 % since November 2023 and has increased by around 250 % over Ethereum during the same period.
The price of XRP was met with $ 2.30 after it rose by modest 0.86 % in the last 24 hours, which brought its market capitalization to $ 134 billion. In the meantime, Bitcoin stabilized at around $ 83,000 after a decline of 6.78 % last week. Jones says:
“Institutions will avert Bitcoin and Ethereum and include XRP ETFs in their portfolio.
As CNF reportedmade Franklin Templeton and 21share’s applications for XRP ETFs in the United States. There are currently 15 proposed XRP ETFs, and this surpasses the number of Bitcoin ETF applications that is 11. This shift indicates that institutional investors begin to recognize the stability and growth potential of XRP and to look beyond traditional assets such as Bitcoin.
Bitcoin ETFs have recorded net inflows of $ 35.4 billion in January 2024 since their approval by the Securities and Exchange Commission (SEC), and analysts believe that XRP ETFs could exceed this number after admission. Jones:
“Applications for XRP ETFs are submitted to the SEC because financial companies expect a demand for them.”
The growing legitimacy of XRP
The regulatory clarity has significantly strengthened the trust of the institutions in XRP, especially after a recent meeting behind closed doors between the Securities and Exchange Commission (SEC) and Ripple Labs, which triggered speculation about a possible agreement in the litigation against Ripple, which has long existed. This meeting follows the decision of the SEC, the investigation in others Crypto lawsuits Against uniswap, robinhood and coin baseset which signals a possible shift of the regulatory approach.
A decision that is positive for Ripple could pave the way for a broader acceptance of XRP among institutions. In addition to this dynamic President Donald Trump terminated The creation of a strategic crypto reserve an in order to position the United States as the “crypto capital of the world” originally, the reserve Bitcoin, Ethereum, Ripple, Solana (SOL) and Cardano (ADA) should include, but later Bitcoin was preferred to other assets.
Trump’s recognition of XRP has further strengthened its legitimacy, whereby Linda Jones emphasized that the inclusion in the US Digital Asset Stockpile is strengthening its role as a financial system. Since institutions try to reduce the risks associated with a Bitcoin-centered portfolio, XRP is able to play a larger role on the financial markets, as its consensus mechanism enables faster and cheaper cross-border payments.
No Comments