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<p>Crypto investor Lord Crypto <a href="https://twitter.com/lordcrypto__/status/1736803299750248755" target="_blank" rel="noopener noreferrer nofollow">provided</a> analysis on Ripple’s native XRP token after it failed to overcome key resistance around $0.64 last week. He notes that the price was rejected from the $0.64 resistance zone and fell below the $0.58 support line.</p>
<p>As seen in the price chart, XRP did succeed in rallying to hit the $0.64 area. However, it quickly slammed into seller congestion and dropped back down. With <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> dipping below the $0.58 level after the swift rejection, momentum has quickly shifted back in favor of sellers.</p>
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<p>However, Lord Crypto maintains a bullish long-term outlook due to Ripple’s involvement in central bank digital currencies (CBDCs). He points out that Ripple’s potential large share in the global CBDC landscape worth ~$5 trillion makes XRP a gift at these levels.</p>
<p>Having partnered with over 20 banks on CBDC projects, he believes it’s only a matter of time before we see the demand for XRP reflected on the charts.</p>
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<p>Lord Crypto sees the current XRP weakness as a buying opportunity, expecting growing CBDC adoption to drive major growth ahead. Even after the swift rejection of $0.64, he thinks XRP remains extremely undervalued relative to its long-term utility potential if Ripple becomes a go-to provider for CBDCs.</p>
<p>With the token back near lows, investor interest could quickly return on any positive CBDC developments, according to his analysis.</p>
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<p>The post <a href="https://captainaltcoin.com/ripple-retreats-after-hitting-0-64-resistance-but-analyst-says-xrp-is-a-gift-at-this-level-due-to-this-reason/" rel="noopener noreferrer nofollow">Ripple Retreats After Hitting $0.64 Resistance, But Analyst Says XRP is A Gift At This Level Due To This Reason</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Ripple Retreats After Hitting $0.64 Resistance, But Analyst Says XRP is A Gift At This Level Due To This Reason

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