Young Europeans Dump Bitcoin and Ethereum, Turn to XRP
New research from Morgan Stanley shows a dramatic shift in crypto preferences among young Europeans, with Bitcoin and Ethereum falling out of favor while XRP gains unexpected ground.
According to a survey focused on EU interns, just 12% now hold Bitcoin, down sharply from 63% in 2022. Ethereum fared no better, dropping from 60% ownership to just 7% over the same period.
In contrast, XRP has quietly surged in popularity. Once absent from intern portfolios, it now claims 5% ownership—a small but notable rise attributed to regulatory breakthroughs and a strong price rally in late 2024.
The broader trend shows waning interest in crypto overall: 82% of respondents reported owning no digital assets at all, compared to 69% just a year prior.
Morgan Stanley’s findings suggest that younger European investors may be reassessing their crypto exposure, favoring clarity and stability over legacy hype.
XRP Price Outlook
XRP is currently struggling to maintain bullish momentum after slipping beneath critical short-term indicators. The token is trading at $2.98, narrowly below its 50-day exponential moving average of $2.97—a signal that momentum may be shifting.
Adding to the bearish sentiment, XRP has broken past the $2.93 Fibonacci support zone, a level that previously held as a strong buffer. Technical indicators confirm the weakening trend: the MACD histogram has flipped negative (-0.065), and the RSI is sitting at a neutral-but-declining 54. Both point to a lack of conviction among buyers.
The next line in the sand appears to be the 78.6% Fibonacci retracement level at $2.52. A break below this could spark a wave of algorithmic selling and panic-driven exits.
Institutional and retail sentiment are also cooling off. Futures open interest for XRP has dropped by 6%, outpacing the 3% decline seen in Bitcoin’s futures market. This divergence suggests traders are pulling back from mid-cap assets like XRP amid broader market uncertainty.
The $3.03 mark is now seen as a crucial pivot. If bulls fail to reclaim this level soon, it may confirm further downside risk heading into the coming weeks.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Zdravkov is a person who always looks for the logic behind things. He has more than 3 years of experience in the crypto space, where he skillfully identifies new trends in the world of digital currencies. Whether providing in-depth analysis or daily reports on all topics, his deep understanding and enthusiasm for what he does make him a valuable member of the team.
