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. 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%.
Ripple, as well as the open-source PayString protocol, has announced that it is joining the Digital Pound Foundation, a non-profit organization that’s helping develop and strategize the implementation of a digital Pound for the United Kingdom. Ripple’s participation in the initiative to create a digital Pound will help boost the Foundation’s efforts to connect with central banks on a global scale, advising on technical and policy issues related to central bank digital currencies (CBDCs).
Technically, Ripple made that a move that broke the resistance area marked on the chart at 1.20 USDT and then a sharp pullback that touched the blue trendline. For this week we give a high probability for a continuation to the upside as the bigger correction in this area seems to be over. If the price makes another leg to the downside, we see a potential reversal at the 1.02-1.05 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Ripple, as well as the open-source PayString protocol, has announced that it is joining the Digital Pound Foundation, a non-profit organization that’s helping develop and strategize the implementation of a digital Pound for the United Kingdom. Ripple’s participation in the initiative to create a digital Pound will help boost the Foundation’s efforts to connect with central banks on a global scale, advising on technical and policy issues related to central bank digital currencies (CBDCs).
Technically, Ripple made that a move that broke the resistance area marked on the chart at 1.20 USDT and then a sharp pullback that touched the blue trendline. For this week we give a high probability for a continuation to the upside as the bigger correction in this area seems to be over. If the price makes another leg to the downside, we see a potential reversal at the 1.02-1.05 level.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
