XRP is UK’s most popular crypto as analyst expect massive gains
- In a recent report by the eToro trading platform, XRP emerged as the most popular cryptocurrency in Q3 2021.
- Ripple has partnered with Digital Pound Foundation to support the creation of the UK's central bank digital currency, the "Digital Pound Sterling."
- Analysts are bullish on XRP price, predicting a big move in altcoin within the next two days.
In the third quarter of this year, XRP became the number one cryptocurrency in the UK, according to social trading platform eToro. XRP holders are bullish on the proceedings in the SEC v. Ripple case.
Analysts predict a big move in XRP, bullish on the new partnerships
eToro, the social trading platform, recently revealed that XRP is UK's most popular cryptocurrency, followed by Cardano (ADA). Crypto traders in the UK have put more funds in XRP than any other crypto in Q3 2021.
The year-on-year increase in XRP price is over 100%; despite higher gains in Bitcoin and Ethereum, traders held on to XRP for its volatility and risk-adjusted returns.
Interestingly, XRP has witnessed a spike in retail and institutional adoption over the past few months. Ripple collaborated with the Digital Pound Foundation and prepared to work in line with the firm's objectives to work with global banks and resolve issues related to CBDC development.
XRP is engaging with centralized institutions for the development of CBDCs. After announcing its partnership with Bhutan's Monetary Authority, Ripple works with the UK's central bank for the "Digital Pound Sterling."
Ripple has positioned itself to be a bridge in CBDC development. Nearly 80% of central banks are currently exploring CBDC development, and the Ripple network's engagement with centralized institutions is expected to boost XRP's utility.
The world's sixth-largest cryptocurrency started at $0.22 in 2021 and hit a high of $1.9 in April before further correction.
Cryptocurrency analyst @Koolaid_crypto has predicted a big move in XRP price over the next two days.
$XRPBTC showing a possible big move for $XRP in about 2 days time if this fractal holds up. #XRP #XRPcommunity #XRPusdt #XRP pic.twitter.com/ZRI7y2lt7s
— Crypto Koolaid (@Koolaid_crypto) October 15, 2021
FXStreet analysts have evaluated the XRP price trend and predicted that the altcoin would skyrocket to $2 with a rise in trade volume.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
