XRP Investors Remain Optimistic As Ripple Introduces CBDC

As the final verdict between Ripple and the Securities and Exchange Commission approaches, Ripple launches the CBDC (Central Bank Digital Currency Platform). The development will enable governments and financial institutions to issue their digital currency on the XRP blockchain.

According to James Wallis, the development will promote instant transactions locally and internationally among financial institutions and their customers. Owing to this recent development and the popularity of XRP’s use case, XRPUSD is likely to experience a surge in price in the long run.

Key XRP Levels To Watch: May 18

The $0.3540 support level and the $0.5850 supply level are currently bounding the trading range of XRPUSD. A downtrend ended a few months ago as the year 2022 ended.

According to the histogram of the MACD (Moving Average Convergence Divergence), XRPUSD has resumed the market’s trend in the upward direction. The uptrend will likely continue until breaching the previous high of $0.5850.

Ripple Key Levels

Resistance Levels: $0.4940, $0.5850, $0.6580

Support Levels: $0.4200, $0.3540, $0.3000

Total Market Capitalization: $1.12T
XRP Market Capitalization: $24.03B
XRP Volume: $1.32B
Market Rank: #6

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