- 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.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Bitcoin Price Forecast: Analysts anticipate increased volatility as the US presidential election looms
Bitcoin price teased its all-time high of $73,777 last week but declined to trade below $69,000 on Monday. Analysts suggest that market volatility is expected to rise as the US presidential election approaches.
Litecoin poised for double-digit decline after breaking ascending trendline
Litecoin breaks and closes below an ascending trendline, signaling a change in market structure. On-chain metrics paint a bearish picture, as LTC’s dormant wallets are active, and the NPL indicator shows a negative spike.
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC, ETH and XRP decline ahead of US elections
Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) all faced resistance at crucial levels ahead of the US Elections, leading to a price decline. As of Monday, they neared key support levels, and a firm close below these marks could signal further declines.
21Shares files S-1 for XRP ETF amid ongoing tension between Ripple and SEC
21Shares filed an S-1 registration with the Securities and Exchange Commission (SEC) on Friday for an XRP exchange-traded fund (ETF). While the chance of approval is slim with the current SEC administration, the landscape could change after the upcoming elections.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.