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<p><strong>Ripple has announced that its blockchain technology, underpinned by its native cryptocurrency $XRP, is being adopted by no fewer than eight countries to build their Central Bank Digital Currencies (CBDCs). </strong></p> 
<p>This news comes as a paradoxical twist, given that XRP has paradoxically relinquished all its gains since its landmark victory against the U.S. Securities and Exchange Commission (SEC) in July.</p> 
<h2 class="wp-block-heading" id="the-global-adoption-wave">The Global Adoption Wave</h2> 
<p>The countries that have jumped on the Ripple bandwagon for their CBDC projects are as diverse as they are numerous:</p> 
<ul> 
 <li><strong>Russia:</strong> Known for its cautious approach towards cryptocurrencies, Russia’s decision to opt for Ripple’s technology is a significant endorsement.</li> 
 <li><strong>Republic of Palau:</strong> This small Pacific island nation is making big moves in the digital finance space, choosing Ripple for its CBDC initiative.</li> 
 <li><strong>Montenegro:</strong> The Balkan state is keen on modernizing its financial infrastructure and sees Ripple as a pathway to do so.</li> 
 <li><strong>Japan:</strong> Already a front-runner in technological innovation, Japan’s choice of Ripple further solidifies the platform’s credibility.</li> 
 <li><strong>Uruguay:</strong> The South American country is looking to digitize its economy and views Ripple as a reliable partner in this endeavor.</li> 
 <li><strong>Hong Kong:</strong> With its unique status, Hong Kong is aiming to be a leader in digital finance in Asia, and Ripple could be the key.</li> 
 <li><strong>New Zealand:</strong> Known for its progressive policies, New Zealand’s adoption of Ripple is in line with its forward-thinking approach.</li> 
 <li><strong>United Arab Emirates (UAE):</strong> A hub for blockchain and fintech, the UAE’s choice of Ripple is a natural fit for its ambitious digital plans.</li> 
</ul> 
<h2 class="wp-block-heading" id="the-sec-aftermath-a-curious-case-of-lost-gains">The SEC Aftermath: A Curious Case of Lost Gains</h2> 
<p>Despite this international vote of confidence, <a class="wpil_keyword_link" href="https://captainaltcoin.com/ripple-xrp-price-prediction/" title="XRP" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">XRP</a> has curiously given back all its gains that followed its win against the SEC. The victory had initially led to a surge in XRP’s value, as it cleared the cloud of regulatory uncertainty that had been hanging over the cryptocurrency.</p> 
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<p>The current trend shows bearish momentum, although signs of a potential reversal are emerging. The MACD line remains below the MACD Signal Line, and the RSI is under 45, typically indicators of a bearish market. However, the rising MACD Histogram bars indicate that the momentum may have reached its lowest point, suggesting a possible upcoming upswing.</p> 
<p>In terms of support and resistance levels, the closest support zone is situated at $0.45. On the flip side, the immediate resistance zone is at $0.55, which was a previous support level, followed by a higher resistance at $0.68.</p> 
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<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/ripples-global-cbdc-adoption-paradox-8-countries-onboard-despite-xrp-slump/">Ripple’s Global CBDC Adoption Paradox: 8 Countries Onboard Despite XRP Slump</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Ripple’s Global CBDC Adoption Paradox: 8 Countries Onboard Despite XRP Slump

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