XRP Coin, one of the largest cryptocurrencies by market value, has experienced volatile days and now seems to have stabilized. While the price continues to linger around the $0.6 support level, a new video message from a high-level Ripple executive has emerged. So, what is the current situation in Ripple and XRP Coin?
The Future of Ripple
James Wallis, the Vice President responsible for Central Bank Digital Currencies (CBDC) operations at Ripple, highlighted the role of CBDCs in advancing global financial inclusion in a short video. This is not something new, but it is an important move in reminding investors of what is coming. Especially when there is a belief that a strong bullish period has begun in the markets, it becomes even more significant.
Wallis argues that spreading to the base is necessary for the global financial system to grow further, and this will be made possible by digital fiat currencies. Of course, Ripple’s intense struggle in the CBDC field will also have a positive impact on the price of XRP Coin if this narrative is accepted and successful.
Wallis claims that CBDCs provide cost-effective solutions by offering financial services at much lower costs compared to traditional methods, and that individuals without relationships with banks can benefit from payments and even credit services.
Ripple is collaborating with more than 20 central banks in the CBDC field and has taken on the role of technology partner for the second phase of Georgia’s digital lari project. We know that CBDC studies in Bhutan, Palau, Montenegro, Colombia, and Hong Kong are continuing with Ripple’s support. At the same time, Ripple is actively involved in the United States’ CBDC research.
XRP Coin Price Analysis
It was not surprising for followers to see a decline, and as the price falls below the $0.65 supply zone, it is pulling towards the support of the parallel channel. If the $0.6 level is lost, the $0.578 and $0.55 support levels could also be tested. The price, which rose to the middle area of the parallel channel, was rejected at $0.75 and could not sustain its upward movement.
In addition to the fluctuation in BTC price, the volatility triggered by the false news of BlackRock’s XRP ETF has, for now, failed to break the $0.6 support. Profit-taking can quickly reverse in a possible BTC recovery, so it is advisable to be cautious.
