According to Finance Magnates, Ripple-affiliated cryptocurrency XRP has been gaining popularity among crypto investors in the U.K. The media cited a recent report published by the eToro trading platform.
U.K. retail investors choose XRP over other cryptos, ADA is second best
Data shared by eToro stated that, in the third quarter of this year, retail investors in the U.K. began giving more attention to the sixth-largest cryptocurrency—XRP—and putting more funds in it than in other digital assets.
Now, XRP has turned into the number one crypto in the U.K. in the retail crypto market. In the second quarter of this year, XRP saw a 4% increase, and year-on-year growth in ownership has surged by 105%.
Cardano's ADA is the second cryptocurrency that British investors are looking at after XRP. Over the past three months, ADA has surpassed Ethereum by popularity here, rising 11% and giving investors a year-on-year rise of 1,230% in 2021.
Ripple to help build U.K.'s CBDC
As covered by U.Today earlier, Ripple has inked a partnership deal, entering the Digital Pound Foundation, to accelerate the process of creating the U.K.'s CBDC, digital pound sterling.
According to the chief of policy at Ripple, Susan Friedman, this partnership will be beneficial for the evolution of the global financial system. As part of this deal, Ripple will continue to collaborate with central banks in various countries regarding technical issues and policies related to CBDCs.