- In a recent report from trading platform eToro, XRP emerged as the most popular cryptocurrency in the third quarter of 2021.
- Ripple has partnered with Digital Pound Foundation to support the creation of the UK central bank’s digital currency, the “Digital Pound Sterling”.
- Analysts are bullish on the price of Ripple, predicting a big move in the altcoin in the next two days.
In the third quarter of this year, XRP became the number one cryptocurrency in the UK, according to trading platform eToro. XRP holders are optimistic about the proceedings in Ripple’s case against the SEC.
Analysts predict a big move in XRP and are optimistic about new partnerships
Recently, the trading platform eToro revealed that XRP is the most popular cryptocurrency in the UK. Immediately followed by Cardano (ADA). Investors in the UK have invested more money in XRP than any other cryptocurrency in Q3 2021.
XRP’s price rose over 100% year-over-year despite higher gains in Bitcoin and Ethereum; investors clung to XRP for its volatility and risk-adjusted returns.
Interestingly, XRP has witnessed a surge in retail and institutional adoption in recent months. Digital Pound Foundation collaborated with Ripple and outlined the company’s goals, including how to work with global banks, and how to solve problems related to CBDC development.
XRP is collaborating with centralized institutions for CBDC development. Ripple has partnered with the Bhutan Monetary Authority. At the same time is now working with the UK central bank on “Digital Sterling.”
Ripple has positioned itself to be a bridge in the development of CBDC. Nearly 80% of central banks are exploring CBDC development. In the meantime XRP’s engagement with centralized institutions is expected to boost its utility.
The world’s sixth-largest cryptocurrency started at $0.22 in 2021 and peaked at $1.9 in April before a further correction.
Analysts at FXStreet have assessed XRP’s price trend and forecast the altcoin will rise to $2 with an increase in trading volume.