The Bank for International Settlements (BIS), the international organization that coordinates central banks’ collaboration and develops standards for financial markets, has announced a collaboration with Ripple, the company behind the popular cryptocurrency XRP. Ripple will become a key partner of the committee in the development of central bank digital currencies.

Under this partnership, Ripple will provide the committee with its expertise in the field of digital assets and blockchain technologies.

This collaboration is seen as a significant step in advancing blockchain solutions on a global scale. Ripple has previously collaborated with central banks of countries like Saudi Arabia and Japan. Now, the company gains the opportunity to influence the development of global standards in this field. This could potentially become a major event in the company’s pursuit of creating a crypto ecosystem among central banks worldwide.

How Did the Token Price React?

Currently, XRP is trading around $0.4-0.5, displaying high volatility. Support levels are found at $0.37 and $0.42, while resistance is situated at $0.55 and $0.6.

Most analysts maintain a cautiously optimistic outlook for XRP, despite the positive factor of Ripple’s partnership with regulators and banks worldwide. The key event determining XRP’s future remains the SEC lawsuit against Ripple Labs. A positive resolution of the legal process could trigger a significant price increase.

If you are considering launching a cryptocurrency-related business, reach out to the team of experts at crypto legal services. We will provide you with competent support to organize your business, minimizing potential risks, and ensuring compliance with all legal norms and requirements.

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