Ripple’s XRP Becoming Increasingly Popular with UK Investors Over Other Digital Assets

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Ripple's XRP Becoming Increasingly Popular with UK Investors Over Other Digital Assets
Ripple's XRP Becoming Increasingly Popular with UK Investors Over Other Digital Assets

Ripple’s XRP adoption in recent months has continued to increase despite the US regulator’s accusation of illegal sales of the token. A recent report from eToro shows that UK investors prefer XRP over other digital assets.

Ripples’ XRP Remains the Most Popular Crypto-asset

According to a report on October 15, eToro – one of the world’s leading multi-asset investment platforms, says XRP remains the most popular crypto asset among UK retail investors.

Data from eToro shows retail investors in the UK are choosing XRP over other digital currencies in the third quarter. XRP maintained its crown as the number one choice for retail investors in the UK, with a 4% increase in the second quarter and an increase in ownership of 105% year over year.

In addition, UK retail investors have also shown interest in Cardano (ADA). Cardano overtook Ethereum (ETH) to take second place with an 11% increase over the past three months and an increase of 1230% year over year.

Commenting on the latest data, Simon Peters, crypto market analyst at eToro stated that despite bitcoin holdings being up only 2%, they are up 325% year-over-year, demonstrating how crypto assets can attract retail investors in 12 months which show how they can be an important part of many portfolios.

He also noted that XRP is similar because its quarterly growth rate is only 4%, but many investors hold it. Some people bought it back in 2017, others bought it recently and he thinks there is a strong community of XRP followers who believe in its long-term potential. 

XRP Price Movement 

The world’s sixth most valuable digital asset opened this year at $0.22. XRP hit a high of $1.9 in April 2021, but there was a big correction in the months that followed. However, cryptocurrencies have been growing steadily since the end of July. Currently, XRP’s retail price is over $1.13 and its market value is more than $53 billion.

In addition to XRP, eToro also highlighted other important cryptocurrency investment initiatives. The biggest changes in the third quarter snapshot came from Algorand (605%), Polygon (430%) and Basic Attention Token (301%) as retail investors look for the ‘next bitcoin’. Demand for new products on the platform is strong, with Shiba Inu in 18th place, Enjin in 25th place and Maker in 29th place.