Ripple, the software company behind the XRP cryptocurrency, announced Thursday it has signed a groundbreaking deal with the National Bank of Georgia (NBG) to pilot a central bank digital currency (CBDC) project named the Digital Lari by leveraging the capabilities of the XRP Ledger.
Georgia’s Central Bank Taps Ripple To Pilot Digital Lari
Ripple said in its announcement that the collaboration will entail using Ripple’s CBDC platform to implement and execute the Digital Lari pilot program.
Ripple’s CBDC platform uses XRPL — a public blockchain — to give central banks and other financial organizations a seamless and scalable way to mint, manage, and redeem CBDCs. By utilizing this revolutionary platform, NBG seeks to explore the potential benefits and use cases of Digital Lari for the public sector, businesses, and retail users.
A CBDC is a digital version of a nation’s fiat currency backed by a central bank. CBDCs are digital assets but are different from the likes of Bitcoin or Ether because a single, centralized body controls them.
Ripple underwent a thorough and competitive selection process involving nine shortlisted companies before being selected as the official technology partner for NBG.
“The committee selected Ripple due to its technical excellence and the expertise of its team,” said Natia Turnava, Acting Governor of NBG, in the statement. “We look forward to moving ahead with Ripple.” 
Ripple noted that the firm’s “deep understanding” of the project’s objectives and deep experience in real-life pilot deployments were key in securing the collaboration.
Ripple Emerges As First Choice For CBDC Adoption
Back in July, Ripple was awarded by Currency Research for its contributions to the Digital Currency Advancement and Best Sustainability Initiative. In particular, Ripple was recognized for its role in promoting innovation in the sector of central bank digital currencies.
The pilot with Georgia’s central bank marks Ripple’s sixth CBDC project with governments after Montenegro, Palau, Bhutan, Colombia, and Hong Kong. The blockchain payments firm revealed it is in talks with more than 20 countries globally about potential partnerships.
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#Ripple's #xrp $XRP

EGRAG CRYPTO, a respected market analyst, has drawn the XRP community’s attention to an intriguing development on the XRP Average Sentiment Oscillator (ASO). This development hints at the likelihood of a significant price rally over the next 275 days.
The Average Sentiment Oscillator is a market indicator that tracks the collective sentiment of market participants by calculating the average percentages of bullish and bearish sentiments.
This indicator consists of two lines: a blue line representing bullish sentiment and a red line representing bearish sentiment. The line with the higher value indicates the prevailing market sentiment.
XRP’s ASO Indicator History
EGRAG CRYPTO has long recognized the ASO’s potency in forecasting XRP’s price movements, with its initial report dating back to February 25. In that report, he unearthed two distinct instances where the ASO indicator precisely foreshadowed XRP’s price surges and declines through bullish and bearish crosses.
The bullish cross forms when the blue line rises above the red line, and a bearish cross forms when the red line goes above the blue. XRP experienced a bullish cross in March 2017 while trading between $0.00525 to $0.02254. Following this cross, XRP embarked on an astonishing rally, ultimately reaching its all-time high.
XRP experienced a bearish cross in September 2018, which caused a drop to $0.1747 in December 2019. Another bullish cross followed less than 2 years later, propelling XRP to $1.96 in April 2021. XRP was pushed back down in May after a bearish cross.
XRP’s Bullish Cross
EGRAG CRYPTO’s latest update from November 3 shows that the gap has closed. He stated, “I’ve been eagerly awaiting the #Bullish crossover of the ASO (Average Sentiment Oscillator) since February 2023. And guess what? It’s finally here!”
He pointed out that, historically, it has taken around 275 days, equivalent to nine months, for XRP to reach the top of its bull run after each bullish cross. He wrote, “If this pattern holds, the next 7-10 months could be filled with some spectacular fireworks!”
EGRAG CRYPTO did not provide a target in this prediction, but this update is a confirmation of an August update, backed by the ASO technical analysis, which had a target of $144. Considering the current price of XRP standing at $0.61, the target price would represent a 23,238% rally.
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This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #xrp $XRP

XRP may now be available in up to 72 countries within the MEASA (Middle East, Africa, and South Asia) region following its recent regulatory approval by Dubai within the DIFC.
The Crypto Basic recently disclosed that the Dubai Financial Services Authority (DFSA), the independent financial services regulatory body in the Dubai International Financial Center (DIFC), approved XRP under its digital asset regime.
The approval would give licensed crypto-focused companies operating within the DIFC the liberty to offer all forms of crypto-related services for XRP, including trading, lending, and others. 
According to the announcement, XRP became the first crypto asset the regulatory agency granted legal and regulatory approval from an external application under its crypto asset regime within the DIFC. XRP joins other digital assets such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), but these did not get approved through an external application.
Significance of the Development 
Interestingly, recent discoveries confirmed that the development is more pivotal than most enthusiasts initially believed. The DIFC’s role as a leading financial center is not limited to Dubai or the UAE but extends its influence across a vast area, reaching the entire MEASA region.
Information from its official platform suggests that the DIFC has served as a central point for various financial activities, making it one of the primary destinations for businesses, investors, and financial institutions in the MEASA region for over two decades.
For context, the Middle East, Africa, and South Asia (MEASA) region encompasses up to 72 countries, including major players like India, Saudi Arabia, UAE, Israel, Turkey, Egypt, and Qatar. The MEASA region boasts a combined nominal GDP of over $8 Trillion, per recent estimates.
The DIFC has been instrumental in facilitating trade and investment within the MEASA region. It plays a vital role in linking investors and businesses from MEASA to the rest of the world. As a result, XRP’s regulatory clarity in the financial hub opens the doors for multiple opportunities in the 72 countries within MEASA.
Three years back, Ripple established its MENA (Middle East and North Africa) headquarters within the DIFC upon recognizing the potential opportunities that could come from operating within the hub. XRP’s entrance further solidifies its footing in the center.
Notably, XRP already secures regulatory clarity in some countries within the MEASA region with favorable crypto rules. Nonetheless, the recent approval from the DIFC could help bolster its prominence in the region, exposing it to several MEASA companies domiciled in the DIFC.
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This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #XRPglobal $XRP

Renowned crypto expert Panos Mekras has recently shared his perspective on the investment potential of XRP, drawing an intriguing comparison to the stocks of prominent companies in the technology sector, including Amazon, Apple, and Netflix.
Mekras argues that XRP presents a more extensive investment outlook than the stocks of these FAANG companies, pointing to a recent tweet by stock investor Brian Feroldi to support his claim.

XRP: A Lucrative Investment Opportunity
In his tweet, Feroldi emphasized that latecomers to the stock market still have ample opportunity to make substantial gains. He cited examples of successful investments in Apple, Amazon, and Netflix made five years after pivotal milestones in their development.
Feroldi concluded his tweet by highlighting that being late to the party might not be as detrimental as commonly assumed, stating, “You can be ‘late’ and still win big.”
Mekras acknowledges Feroldi’s perspective and extends it to the realm of cryptocurrencies. He believes that the crypto space offers similar opportunities for latecomers but with even greater potential and a plethora of innovative projects.
Mekras emphasizes the vast possibilities within the crypto sphere, remarking, “It’s the same with crypto but with a much bigger potential and more opportunities. So many great projects, so much innovation.”
XRP and Avalanche: Blue-Chip Crypto Projects
Among the numerous crypto assets, Mekras singles out XRP and Avalanche (AVAX) as top-tier layer-one projects, akin to blue-chip assets in the cryptocurrency market. This distinction underscores the prominence and reliability of these cryptocurrencies, making them attractive investment options for those seeking long-term growth.
Mekras’s comments challenge the conventional notion that entering the market at a later stage hampers the potential for substantial gains. His perspective highlights the growing potential of cryptocurrencies as an investment asset class.
While cryptocurrencies were once viewed primarily as speculative investments, the maturation of the technology and its increasing adoption by institutional investors have propelled them into the mainstream.
Moreover, Mekras suggests that XRP, with its scalability and potential for widespread adoption, is well-positioned to benefit from this trend. As a result, XRP may emerge as one of the preferred cryptocurrencies for institutional investors seeking exposure to the crypto market.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #XRPInvesting $XRP

Pro-XRP trading platform Uphold now holds an impressive $1.25 billion worth of XRP. This substantial holding is more than seven times the value of Bitcoin held by Uphold’s customers, which stands at $168 million.
Renowned crypto legal expert, John Deaton, who pinpointed this on X, wrote, “It bears mentioning that XRP makes up Uphold’s largest crypto holding, amounting to $1.25 billion worth of the token in customer funds. For context, customers only hold $168 million worth of Bitcoin (BTC) on Uphold.”
The decision to hold such a significant amount of XRP highlights Uphold’s undeniable confidence in the future of XRP. The move comes amidst speculation that Uphold may have gained business from competitors who delisted XRP after the SEC filed a lawsuit against Ripple in 2020.
Deaton believes that Uphold’s success can be largely attributed to its XRP holding. He points out that XRP accounts for a remarkable 62% of Uphold’s trading fees, sustaining the company’s growth for over two years.
Uphold, which had a modest five million users when Deaton first signed up, now boasts an impressive user base of 30 million.

Uphold and Ripple’s Synergistic Partnership
As part of the partnership with Ripple, Uphold will leverage its robust infrastructure to support Ripple Payments, a service focused on facilitating cross-border transactions. Additionally, Uphold will provide the necessary liquidity to ensure seamless transaction processing for Ripple.
To achieve this, Uphold has made it clear that it will not utilize its existing customers’ XRP holdings. Instead, they will rely on their expertise to procure XRP from the open market. This approach displays Uphold’s commitment to maintaining the integrity of its customer accounts while actively supporting Ripple’s vision.
Uphold’s Bullish Outlook on XRP
Uphold’s bullishness on XRP is reflected in their long-standing support of the token. Uphold first listed XRP in 2014 and remained steadfast even during Ripple’s legal battles with the SEC.
Several factors contribute to Uphold’s optimism surrounding XRP. Firstly, XRP transactions are fast, cheap, and scalable, making it an ideal solution for cross-border payments. The exchange actively collaborates with multiple money transfer companies, utilizing XRP to power cost-effective and rapid international payments.
Secondly, XRP enjoys widespread adoption, making it one of the most prominent cryptocurrencies globally. It is listed on major exchanges and supported by numerous wallets and payment processors. This seamless accessibility makes it convenient for Uphold to acquire and trade XRP for its diverse customer base.
Additionally, Uphold may anticipate a favorable outcome in the SEC lawsuit against Ripple, which could result in a substantial increase in its XRP holdings value.
Disclaimer:
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#Ripple's #xrp $XRP