XRP Price is expected to earn 46% profit after receiving the first Dubai license


xrp(XRP) After Ripple obtained its first ever license in the Middle East, prices will break through in the near future from the near future.

XRP price chart tips a possible 46% profit

XRP has been consolidating Descending triangle mode Because in its Seven-year highs of $3.40 It’s January. 16.

After finding support of $2.00 from the triangle’s horizontal line, the XRP/USD pair has left a series of higher lows over the past four days as shown in the chart below.

XRP/USD daily chart. Source: Cointelegraph/TradingView

The price of XRP is now testing the trend line on the triangle at $2.30, which makes the daily candlesticks look more than this level of hope.

If this happens, XRP could rally towards the psychological level of $3.00, a key vendor congestion zone that has recently rejected prices twice.

A move above this level will push the price to the next major resistance and push the price to a multi-year high of $3.40 at $3.27, equivalent to 30% to 46%.

Meanwhile, popular crypto analyst Credibull Crypto explain The drop in XRP to a level below $2.00 provides an ideal entry for buyers with a target profit of about $3.40.

Ripple gets Dubai license

March 13, ripples Announce It has been approved by the Dubai Financial Services Authority to allow it to provide regulated crypto payment services in the UAE.

this AgreeRipple is the first in the Middle East and will enable payment companies to take advantage of UAE’s $40 billion remittances and $400 billion in international trade markets.

Related: Price Analysis 3/12: BTC, ETH, XRP, BNB, SOL, ADA, DOGE, PI, PI, LEO, HBAR, HBAR

After the announcement, XRP Price took 6% from a low of $2.21 to a high price of $2.34 on March 11, reflecting market optimism.

“Ripple’s DFSA license in Difc in Dubai marks a game changer,” explain Popular commentator Vincent Van Code in a March 13 article X, adding that it will position “the company as the leader in regulated cryptocurrency payments for the UAE’s $40B cross-border market.”

“This could unlock the huge potential of XRP, driving adoption and growth as blockchain transforms global finance.”

Ripple’s battle with SEC is approaching

Another potential catalyst for XRP price may be The SEC case against Ripple ends.

Ripple has had a long legal battle with the Securities and Exchange Commission (SEC) since 2020, which alleges that it has not registered for XRP sales, which may be reaching a resolution.

Judge Torres’s ruling in July 2023 XRP is not security for retail, but Fine Ripple $125 million For violations of institutions, it marks a turning point. Recent reports suggest that both sides may revoke their appeals, and amid the shift in SEC priorities under the new leadership, the ripples negotiate better terms.

“The Secgov vs. Ripple case is being summarized and may end soon.” explain Eleanor Terret of Fox Business cited two unmentioned materials.

Terret explained that the SEC may be reconsidering its aggressive crypto enforcement, which may be consistent with a looser regulating stance.

“I was told the argument that the new SEC leadership is cleaning up the law enforcement sector for all previously targeted cryptocurrency companies because it believes regulatory clarity will solve the fundamental problem.”

As Cointelegraph reported, several cases have been fired in recent weeks against several crypto companies, including Common cases,,,,, Robin and Clekena new SEC government led by acting chairman Mark Uyeda.

This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.