XRP Sends Conflicting Signals Amid Ripple’s UAE Push—AED Stablecoin Looms
Ripple’s XRP dances between bullish and bearish cues as the firm plants deeper roots in the UAE. The latest move? A potential AED-pegged stablecoin—because what the crypto space really needs is another fiat proxy.
Market watchers eye XRP’s choppy price action, torn between Ripple’s regulatory wins and the eternal ’when moon’ impatience of bagholders. Meanwhile, Dubai’s Financial Services Authority (FSA) plays nice with blockchain—oil money meets distributed ledgers.
One thing’s clear: Ripple’s betting big on Middle East expansion. Whether that translates to XRP breaking its shackles remains the billion-dollar question—answered only by the same speculative frenzy that fuels every crypto ’revolution’.
Ripple Payments expands UAE footprint with two strategic partnerships
Ripple announced on Monday in a press release that it had entered into strategic partnerships with UAE-based Zand Bank and Mamo. The entities will leverage Ripple Payments for blockchain-enabled cross-border transactions.
The announcement comes after Ripple secured its landmark DFSA license.
Zand Bank, the UAE’s first digital bank, and Mamo, a fintech focused on simplifying global payments, will tap Ripple’s infrastructure to enhance their cross-border capabilities.
Ripple said that the DFSA license and the partnerships mark a "major milestone" in its broader goal of managing end-to-end payments on behalf of global customers, settling payments in minutes, and reducing time and friction.
“Securing our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments, such as high fees, long settlement times, and lack of transparency, in one of the world’s largest cross-border payments hubs,” said Reece Merrick, Managing Director, Middle East and Africa, at Ripple.
Ripple Payments operates in over 90 payout markets and has processed over $70 million in volume globally. The payment platform has been launched in the United States (US), Dubai, Brazil, Mexico, Australia and Switzerland.
The UAE is a global hub for outbound finance with a market of more than $400 billion for international trade. The region has seen growing demand for efficient payment solutions.
XRP faces downside risks above the 50-day EMA
XRP’s price falls sharply on Monday, but holds above support at $2.28, as provided by the 50-day Exponential Moving Average (EMA). This follows a drawdown from last week’s high of $2.65, plausibly triggered by potential profit-taking among traders and sentiment in the broader cryptocurrency market, which deteriorated significantly on Monday.
Based on the Relative Strength Index (RSI) indicator’s retreat to the midline of 50 from near-overbought conditions, the path with the least resistance could shift strongly downwards, especially if the RSI slides further toward the oversold region.
Support at the 50-day EMA and the 100-day EMA, slightly below $2.25, is critical for resuming the uptrend, eyeing a return to $3.00. Beyond the two moving averages, declines could accelerate to retest the descending trendline and the 200-day EMA at approximately $2.00.
XRP/USDT daily chart
The uptrend in the Money FLOW Index (MFI) implies that more money is flowing into XRP than the outflow volume. In other words, trader interest remains steady despite the recent pullback.
Ripple FAQs
What is Ripple?
Ripple is a payments company that specializes in cross-border remittance. The company does this by leveraging blockchain technology. RippleNet is a network used for payments transfer created by Ripple Labs Inc. and is open to financial institutions worldwide. The company also leverages the XRP token.
What is XRP?
XRP is the native token of the decentralized blockchain XRPLedger. The token is used by Ripple Labs to facilitate transactions on the XRPLedger, helping financial institutions transfer value in a borderless manner. XRP therefore facilitates trustless and instant payments on the XRPLedger chain, helping financial firms save on the cost of transacting worldwide.
What is XRPL?
XRPLedger is based on a distributed ledger technology and the blockchain using XRP to power transactions. The ledger is different from other blockchains as it has a built-in inflammatory protocol that helps fight spam and distributed denial-of-service (DDOS) attacks. The XRPL is maintained by a peer-to-peer network known as the global XRP Ledger community.
What blockchain technology does XRP use?
XRP uses the interledger standard. This is a blockchain protocol that aids payments across different networks. For instance, XRP’s blockchain can connect the ledgers of two or more banks. This effectively removes intermediaries and the need for centralization in the system. XRP acts as the native token of the XRPLedger blockchain engineered by Jed McCaleb, Arthur Britto and David Schwartz.
