XRP loyalists have every reason to brag as the cryptocurrency becomes the most preferred digital asset by retail investors in the United Kingdom. This is according to Finance Magnates, which cites a recent report by social trading and investment platform eToro.
Crypto Investors In The UK Adore XRP
Data published by eToro shows that crypto investors in the U.K. have been paying more attention to the Ripple-promoted token designed for international payments during Q3 2021. These investors overwhelmingly desire to allocate more funds to XRP instead of other crypto-assets like Bitcoin, Ethereum, and Binance Coin.
The entire crypto sector has been exploding and XRP has done a good job positioning itself as a key entry point for investors. That said, XRP is now the favorite of most traders in the U.K. The sixth-largest token by market cap registered a 4% growth in ownership in the second quarter and a 105% growth on a year-on-year basis.
After XRP, UK investors are also quite fond of Cardano (ADA). The Charles Hoskinson-led project has grown in popularity among Britons within the last three months, even overtaking Ethereum with an 11% increase. ADA has given investors a year-on-year return of over 1,200% this year.
Other Ripple Developments
XRP, a lightning rod for cryptocurrency critics, may not be the best performing digital asset in 2021 in terms of gains, but it has certainly emerged as the preferred choice of retail investors in the United Kingdom.
Despite being mired in a bombshell legal case with the United States Securities Exchange Commission (SEC), Ripple has signed several deals in the course of the year, including a partnership with the National Bank of Egypt and Bhutan Central Bank. Earlier in the year, the San Francisco-based blockchain payments firm released a private version of the XRP Ledger to help central banks around the world with their CBDC plans.
As TCNW reported previously, Ripple has also recently joined the Digital Pound Foundation as one of its founding members to assist with the creation of a UK-issued central bank digital currency.