Ripple (XRP) Engaging New Zealand Government for CBDC Project
Ripple (XRP) has reportedly initiated talks with the New Zealand government to collaborate on a CBDC project. This comes in the wake of Ripple’s recent victory against the SEC, which has increased global adoption of XRP. The question now is whether this adoption growth is sufficient to drive another triple-digit price pump.
Key Points:
- XRP has witnessed a spike in global adoption since its victory over the SEC.
- Ripple is engaging the New Zealand government for a CBDC project.
- On-chain analysis shows a significant increase in daily active addresses (DAA) for XRP.
- Historical patterns suggest that a rally in DAA could lead to another price surge for XRP.
- The Relative Strength Index (RSI) data indicates a slight tilt in favor of the bulls.
In summary, the growing adoption and network activity of XRP have shifted the market sentiment in favor of the bulls. If the spike in network demand continues, it could drive XRP price towards the $0.80 milestone during the next bull rally.
Hot Take:
The engagement of the New Zealand government for a CBDC project showcases the increasing recognition and legitimacy of Ripple (XRP). With the growing global adoption and positive market sentiment, it is likely that XRP will experience another price surge in the coming weeks.
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