Important Ripple (XRP) Revalation: Some Banks Are Stacking
CryptoPotato
21 Nov 2023 6:08 AM
Despite recent price fluctuations, Ripple's XRP is experiencing a consistent surge in institutional inflows, with the latest data revealing $0.5M in inflows...
- Ripple's XRP is experiencing a consistent surge in institutional inflows.
- A recent report from the Basel Committee on Banking Supervision (BCBS) reveals that 19 leading banks have collectively invested €9.4 billion in various crypto assets, with XRP being a favorite.
- XRP constitutes about 2% of the total exposure, positioning it as the third-largest altcoin in the banks' reported commitments.
- Bitcoin (BTC) and Ethereum (ETH) remain the dominant coins in the banks' crypto investments, with BTC accounting for 31% and ETH for 22%.
- Other popular cryptocurrencies in the portfolios of these financial institutions include Polkadot (DOT), Cardano (ADA), Solana (SOL), and Litecoin (LTC).
- XRP saw inflows of $0.5M, while Cardano (ADA) and Litecoin (LTC) also saw positive inflows.
The sentiment of the article is generally positive, highlighting the consistent surge in institutional inflows for Ripple's XRP and the growing interest and acceptance of cryptocurrencies within the banking sector.
You May Ask
What is the current trend in institutional inflows for Ripple's XRP?Which crypto assets have leading banks collectively invested in, according to the BCBS report?What percentage of the total exposure does XRP constitute for these banks?Which cryptocurrencies dominate the banks' crypto investments?What factors have contributed to the increased institutional interest in XRP?