XRP News: Ripple Highlights CBDC Adoption; XRP Price Drops 3%

XRP News: Ripple’s native crypto, XRP is riding high on positive sentiments emerging from the crucial legal battle against the U.S. Securities and Exchange Commission (SEC). However, the ongoing XRP price surge is also backed by Ripple’s recent leap to expand globally. XRP Price is up by 45% on the year-to-date (YTD) basis.

Also Read: XRP Was Marked For Death, Says Bitcoin Maxi; XRP Lawyer, Ripple CTO Replies

XRP Still Out Performing Bitcoin, Ethereum

XRP price witnessed a major correction on Friday as it dropped by more than 3%. However, XRP is still the biggest gainer in the last 90 days among the top cryptos. It is up by over 10% outperforming Bitcoin (BTC) and Ethereum (ETH) during this period. However, BTC and ETH made a notable recovery in the last 7 days jumping by 17% and 12%, respectively.

XRP is trading at an average price of $0.495, at the press time. However, its 24 hour trading volume is down by 24% to stand at around $1 billion. XRP’s market cap recently surpassed the market cap of the second largest stablecoin USDC. However, It now stands at around $25.7 billion. Read More XRP News Here…

Ripple Key Player In CBDC Expansion?

In a recent post, Ripple highlighted the global adoption of Central Bank Digital Currency (CBDC). The world’s largest central banks are planning to pilot the launch of their own Bank backed digital currencies.

The blockchain firm mentioned that it is supporting the Central Bank of Montenegro (CBCG) to launch a CBDC. It added that the Central Bank of Brazil has presented its plan to launch a CBDC in 2024. While the Digital Currency Monetary Authority also announced the Universal Monetary Unit (UMU), a digital coin.

Also Read: Ripple Legal Chief Has A Tip For “Bears” On Crypto Rules