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Zand Bank and Mamo are the initial financial institutions to adopt Ripple Payments’ blockchain-enabled cross-border solutions in the region. This event marks a strategic expansion for Ripple in a major global payment hub.
Ripple Expands Presence in the UAE Amid Price Volatility
Reece Merrick, Ripple’s Middle East and Africa Managing Director, underscored the importance of the license: “Achieving our DFSA license enables Ripple to better serve the demand for solutions to the inefficiencies of traditional cross-border payments in one of the world’s largest cross-border payment centers.”
Ripple leverages its Dubai license to onboard Zand Bank and Mamo as its first blockchain payment clients in the UAE. Source: JackTheRippler via X
Despite such optimistic developments, XRP price has fallen under bearish pressure, declining nearly 6% on Monday to trade below $2.30. The price drop reflects broader cryptocurrency market volatility rather than Ripple-specific issues.
Market Context: Broader Crypto Volatility Influences XRP Price
The market in cryptocurrencies has been erratic, with Bitcoin fluctuating wildly—temporarily reaching well over $106,000 before falling. That kind of volatility led to over $670 million in liquidations in crypto derivatives markets across top tokens such as XRP.
XRP was trading at around $2.30, down 3.35% in the last 24 hours at press time. Source: Source: XRP Liquid Index (XRPLX) via Brave New Coin
In addition, macroeconomic factors such as Moody’s recent downgrade of the U.S. credit rating and inflationary concerns created uncertainty in the market. Rising 30-year U.S. treasury yields above the threshold of 5% marked another factor that increased risk aversion.
Technical analysis suggests that the present support at XRP of approximately $2.29 is an important level. If this support fails to hold, XRP can test lower levels of approximately $2.00 or even move towards April lows at approximately $1.80. But resistance levels at $2.47 and $2.65 can be broken to bring recovery towards $3.00 and beyond, with certain longer-term projections expecting XRP values at around $8 to $12.
CME Launches XRP Futures Contracts, Boosting Institutional Interest
In a significant win for Ripple and XRP, the Chicago Mercantile Exchange (CME) officially began XRP futures contracts on its Globex electronic trading platform. Having regulated XRP futures available represents a significant step toward institutional adoption, and new entry points for investors to hedge or gain exposure to Ripple’s flagship asset.
XRP futures, launching May 19 under CFTC regulation, will offer both standard and micro contract options for confident trading. Source: CME Group via X
Two contract sizes will be available: a standard contract for 50,000 XRP and a micro contract for 2,500 XRP. The futures will be cash-settled in dollars against the CME CF XRP-Dollar Reference Rate to provide transparency and liquidity.
Alex Ioannou of 99Bitcoins explained, “The launch of XRP futures is anticipated to increase liquidity and price discovery on XRP, mirroring the growth of institutional interest in diversified crypto assets.”
XRP Lawsuit Update: Courtroom Developments Continue to Influence Market Sentiment
Ripple’s legal battle against the U.S. Securities and Exchange Commission (SEC) remains a major driver of XRP price and sentiment. Last week, Judge Analisa Torres denied Ripple’s motion to vacate the ban on institutional XRP sales and refused to reduce the $125 million penalty imposed on the company. This action killed the hopes for XRP ETF listing and assisted in driving the token’s price down recently.
XRP eyes $4.50 as ProShares’ leveraged ETFs launch May 21, fueling institutional demand and bullish momentum. Source: Brett M via X
Legal experts like John Deaton suggest that a breakthrough may depend on the SEC formally acknowledging that XRP is not a security, which could dramatically alter the regulatory landscape.
Eleanor Terrett, host of Crypto America, explained the judge’s position: “Judge Torres is playing hardball here. She’s not making it easy for the parties to simply walk away; instead, she’ll make them work for it. She’s outlined a clear path forward if the SEC and Ripple can present a compelling case.”
Ripple is expected to submit a revised settlement filing soon, which could either revive ETF discussions or deepen the regulatory uncertainties surrounding XRP.
Ripple’s Ongoing Developments Beyond the Courtroom
While legal proceedings dominate headlines, Ripple continues to push forward with practical blockchain applications. One notable project involves using the XRP Ledger to support Colombia’s agricultural sector through a partnership with Mercy Corps and the traceability platform WËIA. This initiative enhances transparency for rural farmers and facilitates microfinance access, underscoring Ripple’s commitment to real-world impact.
Institutional interest in XRP remains evident as well. Recent on-chain data reveals over $350 million in XRP movements between Ripple and major centralized exchanges like Crypto.com. While exact motives remain speculative, such activity suggests ongoing accumulation and strategic positioning ahead of potential regulatory breakthroughs.
Looking Ahead: XRP Price Prediction and Market Outlook
Despite the recent dip, XRP’s long-term outlook retains cautious optimism. Analysts emphasize that clearing critical resistance levels and resolving regulatory challenges could unlock substantial price appreciation. The introduction of CME futures provides a fresh catalyst by increasing institutional participation and improving price transparency.
Ripple (XRP) has continued its decline from 2.650 to just above the key support level at 2.30. Source: FenzoFxBroker on TradingView
With Polymarket odds suggesting an 83% probability of XRP spot ETF approval by year-end, market watchers remain attentive. As Ripple navigates both its legal hurdles and expansion into key markets like the UAE, XRP remains poised on a delicate balance between potential breakout and breakdown.
Final Thoughts
XRP’s price faces near-term pressure amid broader market volatility and ongoing regulatory hurdles. However, Ripple’s expansion in the UAE with Zand Bank and Mamo, alongside the launch of XRP futures on CME, injects renewed bullish sentiment into the Ripple market. The unfolding XRP lawsuit and potential settlement remain critical factors influencing Ripple XRP news and price dynamics. As Ripple’s blockchain projects advance globally, the cryptocurrency continues to build foundational value beyond courtroom battles, holding promise for investors watching its next moves.
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