XRP Outperforms Every Asset in Thailand This Year, Including Bitcoin

A new report from Thailand's financial regulators shows that XRP is outperforming all other assets in the country. The altcoin's $8.2 billion volume is more attractive than gold and Bitcoin.

Apparently, this trend has continued for several months, with a high level of natural adoption from retail investors. XRP ’s popularity in Thailand could spur significant retail interest in the altcoin across Southeast Asia.

Why does Thailand love XRP?

The Thai government has been experimenting with the cryptocurrency industry, launching a major payments platform and Tokenize sovereign debt bonds . This reflects the strong interest in cryptocurrency investments among the Thai people, who seem to favor XRP.

According to a report from the Thai Securities and Exchange Commission, XRP has outperformed all major asset classes in the country, increasing 390% year-on-year in August. It surpassed leading Token like BTC and ETH along with traditional commodities like gold.

Thailand’s appreciation of XRP is important for several reasons. It shows a local market committed to the asset; the SEC reported that XRP was the country’s top-performing asset for nine consecutive months this year.

The enduring enthusiasm of retail investors

XRP ’s Token value has spent much of the past ten months in decline, but this doesn’t seem to have deterred Thailand. To be clear, there hasn’t been a major price crash, but it’s interesting to see this loyalty persist through prolonged periods of market doldrums:

This XRP volume is not just a phenomenon of the international financial system, as retail investors account for the majority of activity in Thailand.

In August, monthly volume increased to about 8.2 billion USD, and retail traders contributed 42% of this. Compared to institutions, foreign investors, etc., grassroots loyalty is the dominant force.

Compare this performance to XRP in the US. While REX-Osprey’s new XRP ETFhas made a big splash in this market, its success has had little impact on Token price or volume.

Institutional Capital has done a lot to raise the prominence of cryptocurrencies, but volume from retail investors is just as important.

Notably, XRP is a favorite choice of the unbanked across Thailand, who prefer this popular Token over classics like BTC. As the altcoin ecosystem grows, this preference could be a strong asset for Ripple’s future plans.

If it is possible to identify and replicate the factors that make XRP popular here, that could form the basis for future marketing strategies.