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Ripple Expected to Lead Trillion-Dollar CBDC Market as Base Layer until 2030 – Which XRP Price Will we See?

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  • Ripple has been ranked as an established leader for Central Bank Digital Currencies (CBDCs) along with other top fintech companies.
  • Prominent crypto expert Egrag predicts XRP’s price could reach $27 if it overcomes several challenges.

Ripple Ranked as Established Leader for CBDCs

Ripple’s efforts in the CBDC space have resulted in the company being ranked as an established leader for Central Bank Digital Currencies (CBDCs). According to Anthony Welfare, Ripple’s CBDC advisor, the company was ranked number one among 15 vendors. The company’s success with RippleNet, technological capabilities within the CBDC space, and growth within the emerging space were among the reasons for the ranking.

Ripple was ranked alongside other top fintech companies such as Stellar, Mastercard, and R3.

CBDC Annual Payment to Spike to $213B By 2030

A recent report by Juniper Research predicts that the value of CBDC payments is expected to grow to $213 billion annually by 2030. This is a significant increase compared to the current annual growth of $100 million. Juniper Research noted that the annual value of payments via CBDC has been relatively low because CBDC adoption is currently limited to pilot projects.

Governments worldwide are expected to drive widespread CBDC adoption to boost financial inclusion and increase their control over how people make digital payments.

Egrag Predicts XRP’s Price Could Reach $27

Prominent crypto expert Egrag has predicted that XRP’s price could reach $27 if it overcomes several challenges. In his analysis, Egrag identified the Seven Arcs, which provides seven Fibonacci circle price targets. The first arc stands at $0.60, the third at $1, and the seventh at $27.

Egrag suggests that XRP has to conquer each arc point to reach the $27 mark. He also set XRP’s clearing price at $1.90.

Challenges XRP Must Overcome

Egrag’s analysis highlights several challenges XRP must overcome to reach $27. The first is breaking above the atlas line, a diagonal line drawn at the price level that supports XRP during a sharp decline. Egrag believes XRP must break above the atlas line by every means possible, which can only happen with a price rally.

Another challenge XRP must overcome is the Final Wake-up Line, which the coin will move to a fierce zone called The Red Lake after conquering. The Red Lake is a determinant region for a successful rally to $27. It is where the bulls and bears will fight to control XRP’s next price point.

Driving Factors for XRP

Egrag also points out driving factors that could propel XRP’s price to $27. The blue ocean is the price region where sharks and whales take control, accumulating chunks of tokens. This represents a price point where it’ll witness high demand from mid-sized and whale investors with deep pockets.

Ultimately, XRP could reach the $27 mark once it conquers the blue ocean region.

Ripple’s ranking as an established leader for CBDCs and Egrag’s analysis highlighting the challenges XRP must overcome to reach $27 demonstrate the continued growth and potential of Ripple and XRP in the cryptocurrency market. With CBDC adoption expected to surge in the coming years, Ripple’s expertise in the CBDC space and partnerships with central banks worldwide place it in an excellent position to develop innovative solutions that improve cross-border payments.

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AnnJoy Makena
AnnJoy Makenahttps://www.ethnews.com
Annjoy Makena is an accomplished and passionate writer who specializes in the fascinating world of cryptocurrencies. With a profound understanding of blockchain technology and its implications, she is dedicated to demystifying complex concepts and delivering valuable insights to her readers. Business Email: info@ethnews.com Phone: +49 160 92211628