Research

A research conglomerate involving The Digital Dollar Foundation and Accenture has released a whitepaper clearly outlining how the US Government could smoothly roll out its Central Bank Digital Currency (CBDC), the digital dollar.

Surprisingly, Ripple has been stagnant, soon after the breakdown at the $0.20 resistance. For over a week, price has been fluctuating below the $0.20 resistance without any discernible direction of price movement.

In the last 48 hours, Ripple has failed to breach the downtrend line. The crypto has been unsuccessful to push above the previous highs.

Since April 29, the bears have overwhelmingly subdued the bulls as buyers failed to break above the downtrend line. The downtrend line shows the resistance levels of the price of Ripple.

Thailand has been very supportive of the development and application of blockchain technology in recent years. Its Energy Ministry is now launching fresh research to ascertain the use of blockchain technology in its palm oil sector.

In the last three days, Bitcoin has been hovering above $9,700 after several attempts to break the $10,000 overhead resistance. Many analysts believe that several retests only produce a weakening effect over the $10,000 resistance zone.

The concerted efforts made by the bulls to push above the $0.20500 resistance have failed after a second attempt. The bears are strongly defending the $0.20500 resistance.

Recent research by a group of scientists has stated that blockchain technology could be used to enhance collaborative exploration and development in response to global pandemics such as COVID-19 through well-timed research collaborations, decentralization, and anonymity of essential information among governments.

Certainly, a retest or outright breaching of the $227 resistance is possible as buyers break the $205 resistance. At last, buyers did a clearance of the $200 and $205 resistances.