XRP News: Analysts Predict Potential Rally Toward $9, But Decline in User Activity Raises Concerns

Top Ripple (XRP) Price Predictions as of Late

Analysts are confident in XRP’s ability to stay above key breakout levels, with some predicting a potential rally toward $9. While most forecasts remain optimistic, on-chain metrics show a decline in user activity, which could slow the asset’s momentum. The past few weeks have been quite eventful for the cryptocurrency market, which endured substantial turbulence. Ripple’s XRP was not excluded from the volatility, with its price tanking to a local low below $2 on March 11 and later heading north to the current $2.28, representing a 3.5% increase on a daily scale. According to some analysts, the asset has yet to show its potential during this cycle.

XRP Surges 5% as Bulls Eye Breakout Above $3

Technical indicators show that XRP’s RSI has climbed steadily since March 10, approaching levels that signal strong buying pressure. The Relative Strength Index (RSI) has significantly risen to 60.14, up from 27 just three days ago. This rapid increase suggests a strong shift in momentum, with buyers driving the price higher. XRP could soon challenge key resistance levels, potentially aiming for a breakout above $3 for the first time since late January.

Ripple Secures DFSA License for Regulated Crypto Payments in UAE

Ripple, a blockchain-based payments provider, has received regulatory approval from the Dubai Financial Services Authority (DFSA), making it the first company of its kind to be licensed in the Dubai International Financial Center (DIFC). This approval allows Ripple to offer fully regulated cross-border crypto payments in the United Arab Emirates (UAE), which has a $40 billion remittance market. The DFSA license marks Ripple’s first regulatory approval in the Middle East, and the company has been increasing its presence in the region since setting up an office in Dubai in 2020. Nearly 20% of Ripple’s global customers are based in the Middle East.

Ripple Secures Dubai License, XRP Fails to Surpass Resistance

Ripple has announced that it has received a licensing from Dubai’s Financial Services Authority, making it the first crypto payments provider to receive a license in the Middle East. Despite this positive news, XRP failed to surpass a key resistance level and saw a rejection NEAR the upper boundary of a descending channel. The cryptocurrency held steady around $2.20 on Thursday following the announcement.