This Factor Can Play A Great Role In Ripple’s Stagnant Growth 

Ripple’s ongoing lawsuit against the SEC has impacted the company’s growth. Despite that Ripple has continued to take up growth opportunities in different fields. According to a recent report, Ripple plans to grow through CBDCs. Hence, gaining themselves a favorable opportunity with the government. Moreover, it’s likely to push XRP to a highly anticipated growth phase. Ripple disclosed in one of its latest reports that it plans to set up a CBDCs that global financial leaders think of. 

Furthermore, the report mentions the benefits of CBDC adoption such as financial inclusion and faster transactions. Ripple has leaned towards the CBDC. The firm aims to become a gateway for CBDC rollouts. Ripple has a private CBDC ledger which it believes to be an ideal solution for CBDC rollout. 

How Will CBDCs Involvement Will Affect XRP Growth? 

Ripple also offers ODL services that facilitate rapid cross-border transfers. Ripple can eventually turn into a clearing house for the global banking system. The demand for XRP will soar if the plans prove successful. Hence, positively affecting the price movement. In late July, XRP went bullish and managed to push through the resistance line. But it again traced back and is currently trading between the support and resistance range. At the time of writing, its price stood at $0.374750. It lacks enough bullish pressure showing a limited profit.

There is no doubt that Ripple’s CBDC plans look promising. However, its growth is stagnant because of uncertainties around the SEC case. Consequently, over the past four weeks, it experienced negative network growth. Profit-taking after minor gains has affected XRP’s upside. The primary reason is investors’ skepticism about the lawsuit, hence focusing on short-term gains. This could be seen in the 30-day MVRV ratio and the 30-day realized cap metrics.

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