While interesting to see I think it would be expected as the majority of the capital coming into the market is from institutions which are centralized in nature and that is what Ripple is doing for XRP as they are taking a somewhat hybrid approach to the cryptocurrency space. However, what is interesting is that given the structure that Ripple used to deploy (and retain) the XRP token, there are uncertainties regarding its regulatory classification as some say it is a security.
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Correct. It certainly looks like a security to me, which is why I have been hesitant to hold very much of it currently. Good point about institutions though. The ones from the US will pretty much only be buying bitcoin, at least at first.