Ripple Price Prediction: XRP faces growing downside risks threatening potential return to $3 :
Ripple builds on the Dubai regulatory license, partnering with Zand Bank and Mamo to offer blockchain-based payment services.
Zand Bank believes collaborating with Ripple will enhance its global payment solutions, with an AED-backed stablecoin.
XRP faces steep downside risks, especially if price break below the 50-day EMA, potentially dropping to $2.00.
Ripple (XRP) price hovers at around $2.31 on Monday, extending its gradual drawdown from last week’s high of $2.65, as the broader cryptocurrency market swings between gains and losses amid shifting investor sentiment. Protecting XRP's immediate downside is the 50-day Exponential Moving Average (EMA).
A resumption of the uptrend towards $3.00 could gain bullish momentum after Ripple announced a strategic partnership with United Arab Emirates (UAE)-based Zand Bank and Mamo, adding its exposure to the region after securing the Dubai Financial Services Authority (DFSA) license in March.
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.
