The Digital Euro Association (DEA) has announced a partnership with Ripple to collaborate on central bank digital currencies (CBDCs).

Meanwhile, XRPUSD has been consolidating around 2.47000 after showing a bearish trend on the H1 chart. A bearish trendline is in place, suggesting the cryptocurrency may stay bearish for some time.

Ripple Supports CBDCs with DEA Partnership

"The DEA is working across Europe and global markets to drive the development and growth of CBDCs and, specifically, the Digital Euro. Ripple has invested significantly in the CBDC world, with a team of around 40 people globally, helping develop and deliver solutions for CBDCs and stablecoins," said James Wallis, VP of Central Bank Engagements, Ripple.

Ripple, known for its blockchain and crypto solutions in cross-border payments , has developed infrastructure to support CBDCs. It is currently working with Bhutan’s central bank on a CBDC pilot. Ripple is also a member of the Digital Pound Foundation and is expanding its CBDC efforts globally.

The DEA, based in Frankfurt, focuses on CBDCs, stablecoins, and digital money. Its mission includes promoting research and education on digital currencies and providing a platform for policy-makers, technologists, and economists.

XRPUSD Testing Key Level for Breakout

The XRPUSD H1 chart shows a bearish price movement following a trendline. As of now, it is trading around 2.47000, a key level where the price has previously bounced. A breakout at this level could lead to further bearish momentum, pushing the price lower. Conversely, if the level holds as support, it may not generate bullish momentum unless there is a breakout above the bearish trendline.

Ripple Engages in Key Developments Across Sectors

Ripple has recently engaged in several key developments. It partnered with Revolut and Zero Hash to expand access to its RLUSD stablecoin, aiming to challenge the dominance of USDT and USDC.

The company also teamed up with Portuguese currency exchange provider Unicâmbio to offer instant international payments between Portugal and Brazil, using digital assets for efficient cross-border settlements.

Ripple whales have been actively acquiring XRP, with 520 million tokens purchased during a recent price dip, indicating strong investor interest. Additionally, the SEC's reassignment of Jorge Tenreiro, who oversaw Ripple’s case, has raised questions about the agency’s future approach to crypto litigation.

Ripple also donated $100,000 in XRP to support California wildfire relief, assisting organizations like World Central Kitchen and GiveDirectly. In DeFi, Ripple partnered with Chainlink to integrate RLUSD with decentralized finance applications on Ethereum, expanding its use case within the ecosystem.