Ripple (XRP) Strengthens in Dubai, Is This the Beginning of the Next Price Spike?
Jakarta, Pintu News – This week, the price of Ripple (XRP) managed to maintain its position above $2, recording a gain of 23%. This success is attributed to the good news coming from Dubai, where Ripple has received regulatory approval to expand its crypto payment services. With the market constantly fluctuating, Ripple (XRP) has shown remarkable resilience, catching the attention of global crypto market investors and analysts.
Ripple (XRP) Price Rise Amid Volatile Market
On Thursday, the price of Ripple (XRP) managed to break the $2.30 mark, with a weekly gain of 23%. Although the crypto market experienced a lot of fluctuations, Ripple (XRP) managed to move in a stable range between $2.10 and $2.35 throughout the day.
This bullish momentum is driven by the anticipation of Ripple (XRP) ETF approval and possible inclusion in the United States’ crypto strategic reserve, which continues to drive buying activity. These gains show the resilience of Ripple (XRP) in the face of market uncertainty. Investors and traders continue to monitor developments regarding regulation and wider adoption, which could potentially push the price of Ripple (XRP) to even higher levels.
Ripple Obtains Key Regulatory Approval in Dubai
Ripple Labs recently secured a regulatory license from the Dubai Financial Services Authority (DFSA), allowing the company to provide crypto payment services across the region. This approval is a major step in Ripple’s global expansion strategy, considering the United Arab Emirates’ Gross Domestic Product (GDP) stands at $277 billion.
With this license, Ripple can strengthen its position as a major player in the global payments market, especially in the dynamic and growing Middle East region. It also opens up opportunities for Ripple to collaborate with more businesses and financial institutions in the region, expanding its network and influence.
Ripple (XRP) Price Outlook: Defense Above $2
Ripple (XRP) price is currently holding above the critical support level of $2. Technical indicators point to a potential continuation of the bullish trend if buyer pressure persists. Based on the Keltner Channel (KC), Ripple (XRP) is consolidating in the mid-range, with resistance at $3.32 and support at $2.14.
Ripple’s (XRP) Relative Strength Index (RSI) stands at 54.93, still below the overbought zone at 70.86. This indicates that there is still room for the price to rise further if buying pressure can be sustained. Analysts and investors are closely watching these indicators to predict the next price movement.
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With new regulatory approvals in Dubai and stable price performance, Ripple (XRP) is showing significant growth potential. Investors who understand the dynamics of the crypto market may see this as an opportunity to participate in a possible uptrend. Looking ahead, eyes will be on how Ripple can capitalize on this opportunity to strengthen its position in the global market.
Also Read: Pi Network Price Predictions to 2050: What to Expect?
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*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Coingape. Ripple (XRP) Traders Holding 23% Gains This Week Despite Volatile Market Trends. Accessed on March 14, 2025
- Featured Image: Coingape
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