Payment solution company Ripple will join the Digital Pound Foundation to develop a Central Bank Digital Currency (CBDC) for the United Kingdom. The company will become a foundation member and will be represented in its board by their Head of Policy Susan Friedman, according to an official post. The payment solution company has been approaching several banking institutions worldwide to work on CBDCs from their design to the policies necessary to implement them, and other technical details. Back in October, the company revealed a key partnership with the central bank of Bhutan and the Royal Monetary Authority (RMA) to test a cross-border payment application for a digital Ngultrum via CBDC. A digital Pound, as the Digital Pound Foundation envisions, will give the U.K. a new tool to accelerate its economy’s transition to a digital society. In addition, the organization seeks to “ensure” the country’s spot as a leader in the nascent digital space.
Technically, Ripple broke the top of the previous wave at 1,23 USD and the price is retracing back to the orange trendline marked on the chart. After this correction is over, we give a high probability for a continuation to the upside. However, if the price breaks the support at $1, we can see another move to the downside that will tag the September lows.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Technically, Ripple broke the top of the previous wave at 1,23 USD and the price is retracing back to the orange trendline marked on the chart. After this correction is over, we give a high probability for a continuation to the upside. However, if the price breaks the support at $1, we can see another move to the downside that will tag the September lows.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
