The Whole Euro Region Tested Positive! & we
ain't talking about Covid! It's XRP fever! And it's high time that you get on the train!
Have no clue what we are talking about? Let us drop a hint the WHOLE EUROPE REGION IS
GOING DIGITAL! Stay tuned to know more about the scoop that will make you a millionaire! BUT FIRST, WE ARE GIVING AWAY $25 AT THE END
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Let’s grow the XRP LAB COMMUNITY by pressing the like button and subscribe. The global attraction of fiat currencies is
based on economic fundamentals, but the European Central Bank (ECB) stated in a recent evaluation
of the euro's international function that some qualities of digital money could boost
acceptance beyond the issuing jurisdiction. According to the regulator, specific design
elements can incentivize non-residents to adopt a digital euro as a method of payment,
a unit of account, and a store of value. A central bank digital currency (CBDC) would
represent a claim on the issuer's balance sheet and may lessen the risks associated
with typical cross-border transactions via correspondent banking, according to the bank.
A CBDC would also result in decreased transaction costs, increased access to payment services,
and reduced intermediary mark-ups. For example, remittance transfers could become more efficient. The Eurozone's central bank believes that
a CBDC might partially or completely replace unstable national currencies in countries
with weak economies, acting as a local means of payment, a savings vehicle, and eventually
the unit of account.
Electronic invoices, receipts, IDs, and signatures would be easier
to use with digital money. End-users may benefit from having access to products that compete
with those offered by large tech firms. A CBDC, according to the European Central
Bank, would help to safeguard the independence of domestic payment systems. On the other
hand, if a central bank fails to supply a digital currency, the financial system's stability
would be jeopardized. Massimo Ferrari and Arnaud Mehl, authors of the CBDC section of
the research, warn that a situation in which non-domestic suppliers dominate domestic and
cross-border payments, including foreign IT giants potentially issuing artificial currencies
in the future, could be a source of concern.
Companies like Facebook, the world's most
popular social media platform, have been working on developing their own native currencies,
which could quickly gain popularity due to their large customer base. "Not only could
this undermine the financial system's stability, but people and merchants alike would be susceptible
to a small number of dominant suppliers with considerable market power," the economists
say. The "ability of central banks to perform their monetary policy mission and function
as lender of last resort" would be harmed, according to Ferrari and Mehl. "A digital euro could help increase the euro's
worldwide appeal," the paper adds, "but it would not affect the underlying elements that
create international currency status," such as solid fundamentals, the size of the issuing
economy, and the liquidity of financial markets. The European Central Bank has yet to launch
a digital euro project. The Governing Council's decision is likely in the middle of 2021,
according to officials. China, the United States, and Russia are among the countries
attempting to issue CBDCs.
According to an article published by bitcoin.com,
the digital euro will be able to handle practically infinite payments, according to the Estonian
central bank, after a test. A digital euro based on blockchain would be immensely scalable,
allowing it to process an almost infinite amount of transactions. Following a recent
experiment, Estonia's central bank has reached a conclusion. As a result, they conducted
a recent experiment and now believe that a blockchain-based digital euro would be very
scalable. The test included central banks from six euro area countries as well as the
European Central Bank.
So we've had central banks from a number of eurozone countries
testing this blockchain-based digital euro. Now we're curious as to what blockchain-based
digital euro they're referring to, given it appears to be incredibly scalable in terms
of payments. This has to be xrp. Central banks from numerous eurozone countries, as well
as the European Central Bank, took part in the trial, which claimed to show that digital
currency has a lower carbon footprint than card payments. During the digital euro test,
300 000 payments per second were completed, using less energy than a visa, Mastercard,
and the dollar itself. Which cryptocurrency has the fastest transaction? XRP!! But they're
not going to say anything, and they're not going to tell you anything. They're going
to keep it quiet. Are you seeing what's going on here? An experiment
conducted as part of the digital euro project's recently launched investigation phase has
revealed that a blockchain-based solution for the electronic version of Europe's common
currency could theoretically support an almost infinite number of simultaneous payments.
The test also revealed that the system would strike a solid balance between privacy and
anti-money laundering regulations.
Because every transaction in xrp is recorded on the
ledger, there can be no illicit conduct because everything is recorded. The central bank of Estonia applauded the
test results in a statement on its website. Eesti Pank, along with equivalents from seven
other eurozone member states, took part in the experiment. So it wasn't just Estonia
that was affected; seven other eurozone countries were as well. Spain participated in a test,
and Germany participated in a test. Italy participated in a test. Greece took part in
the experiment, sending 300,000 payments back and forth in real-time. The governing council
of the European Central Bank, as well as the European Central Bank, gave the green light
to further preparations for the digital euro in mid-July. However, a final decision on its implementation
has yet to be made. The digital euro is on the verge of being released. Right here, they're
telling you. They're claiming to be employing a blockchain-based solution, and they're applauding
the outcomes of scaling 300 transactions in a second.
The trial's goal was to evaluate
a potential technical solution for the central bank's digital currency. Payments were made
in digital money between people with digital identities from Estonia, Latvia, Lithuania,
and Spain during the experiment. The digital euro system was tested and found to be capable
of processing over 300,000 payment transactions per second. If this ain’t XRP! Then which
other crypto can accomplish this? The network's estimated carbon footprint was
found to be lower than that of the present card payment system, according to the Estonian
According to Eesti Pank specialists, Europe's digital currency system has no restrictions
on money supply and has been able to overcome some of the previously reported barriers.
The trial showed that, due to the high scalability of the blockchain technology used, the number
of payments made using the digital euro could simply be raised if needed. The central bank also stated that the cutting-edge
technology does not impose any necessary constraints on the size of the money supply.
can manage the whole supply of euros in circulation and more, with no constraints on the number
of people who can retain money or the number of payments that may be made at the same time.
As part of the project's investigation phase, more trials will be conducted, and Eesti Pank
intends to continue participating. The ECB wants to bring in more banks and payment service
providers, and it plans to run a series of user surveys to look into all of the options
for a digital euro. Financial authorities will also seek to determine the technical
infrastructure that the Eurozone's digital currency will require during this stage, which
is projected to span roughly 24 months. The price of XRP has broken through a long-standing
resistance barrier and retested the ceiling that followed. Given Ripple's failure to flip
the second level, it's likely that rejection is underway, with a retreat to follow.
price of XRP has risen over 19 percent in just four days, slicing past the range high
of $0.785. The resistance barrier at $0.827 was tagged by this upswing, but it failed
to close above it. As a result, a pullback will occur if this barrier is breached. The
Momentum Reversal Indicator (MRI), which flashed a sell signal in the shape of a red 'one'
candlestick on the 4-hour chart, backs up this narrative. A one-to-four candlestick correction is predicted
by this technical setup. If this pullback occurs, Ripple will most likely find support
at $0.785 or the $0.725 support level. Ripple might make an equal low at $0.688 before starting
a fresh uptrend in some situations. The double bottom would signal the start of a new uptrend.
If the rally starts, it will most likely break through $0.785 and flip $0.827. The $1 level
will be the next goal for the bulls if the buying pressure continues. Overall, if XRP
reaches the $1 barrier, it will have increased by 45 percent from $0.688.
Regardless of the market's bullish outlook, the tables will change if the XRP price breaks
This move will result in a lower low, potentially indicating a trend
shift in favor of the bears. If this happens, Ripple might advance to $0.647, which is the
50% Fibonacci retracement level. CTA: DO YOU INVEST IN XRP?
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Thank you so much for watching, see you in the next video my friend. Kindly note that prices of cryptocurrencies
frequently change, so by the time you watch this video, it might have changed to a whole
new value. The information provided in this video does not constitute investment advice,
financial advice, trading advice, or any other sort of advice, and you should not treat any
of the content as such. The content in this video is for educational purposes only and
hence should not be considered as financial advice.
Do conduct your own due diligence
and consult your financial advisor before making any investment decisions..