- In a recent report from the eToro trading platform, XRP emerged as the most popular cryptocurrency in the third quarter of 2021.
- Ripple has partnered with the Digital Pound Foundation to support the creation of the British Central Bank’s digital currency, the “Digital Pound Sterling”.
- Analysts are bullish on the price of XRP, and anticipate a significant movement in the altcoin over the next couple of days.
In the third quarter of this year, XRP became the number one digital currency in the UK, according to social trading platform eToro. XRP holders optimistic about actions in SEC v. Ripple.
Analysts Expect a Big Move in XRP, Bullish on New Partnerships
eToro, the social trading platform, recently revealed that XRP is the most popular cryptocurrency in the UK, followed by Cardano (ADA). UK cryptocurrency traders put more money into XRP than any other cryptocurrency in the third quarter of 2021.
The annual increase in the price of XRP was more than 100%; Despite high gains in Bitcoin and Ethereum, traders held XRP for its volatility and risk-adjusted returns.
Interestingly, XRP has seen a sharp rise in retail and institutional adoption over the past few months. Ripple has partnered with the Digital Pound Foundation and is prepared to work in line with the company’s objectives to work with global banks and solve issues related to the development of CBDCs.
XRP works with central institutions to develop digital central bank currencies. After announcing its partnership with the Bhutan Monetary Authority, Ripple is working with the Bank of England for a “digital pound”.
Ripple has positioned itself to be a bridge in the development of CBDC. Nearly 80% of central banks are currently exploring the development of digital central bank currencies, and the participation of the Ripple network with central institutions is expected to boost the utility of XRP.
The world’s sixth largest cryptocurrency started at $0.22 in 2021 and reached a high of $1.9 in April before making a further correction.
Cryptocurrency analystKoolaid_crypto has predicted a significant movement in the price of XRP over the next two days.
FXStreet analysts have assessed the XRP price trend and predicted that the altcoin will rise to $2 with higher trading volume.