Analysis: Ripple (XRP) rises again and now conquers the Middle East.💰📉
At the time of writing, XRP is trading around $2.24, and its total market value exceeds 129 billion dollars. It registers daily gains of 4.7%, weekly losses of 3.4%, and monthly gains of 2.9%.
Finally, the price of Ripple's cryptocurrency has regained the key level of $2.2, amidst widespread enthusiasm across the crypto market.
What is driving the price of XRP upward?
Bitcoin has crossed the line of 106,000 dollars again, which has been quite positive for the crypto market. Therefore, today we see that most major altcoins are showing significant rebounds.
However, Ripple has strong reasons for its current rise.
Firstly, Ripple is gaining strength in the market thanks to an important advancement: its regulated stablecoin in the United States, RLUSD, has just received official approval to operate in Dubai's main financial free zone. This achievement opens the door to greater institutional adoption of Ripple throughout the Middle East.
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