The XRP price is relatively stable this week as $2.20 is now set as a strong support level. After hitting a monthly high at the beginning of March at $2.93, Ripple’s token hasn’t had a great performance.
Should XRP holders be worried about this? Likely no, because of 2 reasons.
First, the whole crypto market has been sluggish since the beginning of February. The XRP price actually performed fairly well compared to other top altcoins. Ethereum lost over 30% in the last 30 days, XRP lost 11% and had runs in the meantime.
Second, Ripple continues to make developments and work on crypto and XRP adoption.
What you'll learn 👉
Ripple Gets First Middle East License
Ripple just got the green light from Dubai’s financial watchdog to offer crypto payments in the Dubai International Finance Centre. They’re now the first blockchain payments company with a DFSA license.
This is their first license in the Middle East. It lets Ripple bring its global payments product to UAE businesses. The company has been building relationships in the region for years.
Ripple has secured regulatory approval from the Dubai Financial Services Authority (DFSA), making us the first blockchain payments provider licensed in the DIFC. https://t.co/6oHWtnjODr
— Ripple (@Ripple) March 13, 2025
This milestone unlocks fully regulated cross-border crypto payments in the UAE, bringing…
“We are entering an unprecedented period of growth for the crypto industry, driven by greater regulatory clarity around the world and increasing institutional adoption,” said Brad Garlinghouse, Ripple’s CEO. “Thanks to its early leadership in creating a supportive environment for tech and crypto innovation, the UAE is exceptionally well-placed to benefit.”
Read also: XRP ETFs ‘Likely’ to Be Approved Very Soon—Here’s the Expected Date
UAE’s Big Cross-Border Money Market
The UAE has a massive $40 billion cross-border payments market. That’s why Ripple is eager to grow there. Banks and crypto companies in the Middle East want better ways to send money internationally without high fees and delays.
Ripple’s survey shows most finance leaders in the region care most about faster payments. They want quicker settlement times when using blockchain for cross-border transfers.
Ripple set up shop in Dubai back in 2020. About 20% of their customers already do business in the Middle East. The region seems ready for crypto adoption – most financial leaders feel confident about using blockchain in their businesses.
Reece Merrick, who runs Ripple’s Middle East and Africa operations, says Dubai has created good rules for digital assets. He thinks the license will help them serve customers who need faster, cheaper ways to move money across borders.
This Dubai license joins Ripple’s collection of over 60 approvals worldwide. They already have licenses in Singapore, New York, Ireland, and many U.S. states. The company keeps pushing to bring blockchain technology to financial services around the globe.
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