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The price of XRP is preparing to achieve 46 % of the gains after Ripple secured the first Dubai license

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Xrp (XrpPrice looks forward to the outbreak of the classic chart style in the near future after Ripple got its first license ever in the Middle East.

The XRP price scheme is 46 % possible

XRP was combined inside a Triangle descent style Since you are at the top of The highest level in seven years reached $ 3.40 On January 16.

After finding support from the horizontal triangle line at $ 2.00, the XRP/USD pair left behind a chain of supreme lower over the past four days to the upper direction line, as shown in the graph below.

XRP/USD daily chart. Source: Cointelegraph/Tradingvief

The XRP price now tests the triangle upper direction line at $ 2.30, which raises hopes for closing the daily candlestick above this level.

If this happens, XRP can gather towards the psychological level $ 3.00, a decisive resource congestion area that has rejected the price twice in recent times.

The post -level step would pay the price towards the next main resistance at $ 3.27 and then to the highest multi -year level at $ 3.40, up to 30 % and 46 %.

Meanwhile, Credbull Crypto He says The XRP decreased to the SUB-2.00 levels provided an ideal introduction to buyers, as profits target about $ 3.40.

Ripple provides Dubai license

On March 13, ripples Declare It has obtained approval from the Financial Services Authority in Dubai, allowing it to provide the regulatory coding payment services in the United Arab Emirates.

this consentRipple’s First in the Middle East will allow the payments company to benefit from the transfer of the United Arab Emirates of $ 40 billion and $ 400 billion international commercial markets.

Related to: Price Analysis 3/12: BTC, ETH, XRP, BNB, Sol, Ada, DOGE, PI, Leo, Hbar

After this announcement, the XRP price increased by 6 % of a decrease of $ 2.21 to the highest level at $ 2.34 on March 11, reflecting the optimism of the market.

“Ripple DFSA license in Dubai in Dubai represents the game change,” He said The famous commentator Vincent Van Code is in a post on March 13 on X, adding that he puts “the company as a leader in organized encryption payments across the UAE market by border worth $ 40 billion.”

“This can open the enormous potential of XRP, and to pay adoption and growth as Blockchain converts global financing.”

The Battle of Ripple with SEC is approaching its end

Another possible catalyst for XRP is possible The end of the SEC case against Ripple.

The long legal battle of Ripple may approach the US Securities and Stock Exchange Committee (SEC) since 2020 on unregistered XRP allegations.

July 2023 by Judge Torres, is considered XRP is not safe For retail sales, however A fine of $ 125 million For institutional violations, a turning point was distinguished. Modern reports indicate that both parties may drop their calls, as Ripple negotiates better conditions amid a noticeable shift in SEC’s priorities under a new leadership.

“SECGOV box versus Ripple is in the closing phase and can end soon,” He said Eleanor Territ from Fox Business, citing unwitted exporters.

Terret explained that SEC can reconsider its aggressive enforcement of the encryption, and perhaps in line with a more lenient regulatory position.

“I was told that this argument is that the new SEC leadership scans the clean enforcement list for all the previously targeted encryption companies because it believes that the organizational clarity will solve the basic issue.”

As CointeleGRAph said, many cases have been rejected against many encryption companies in recent weeks, including Coinbaseand Robinhood and CornerBy the new SEC administration under the acting of President Mark Uida.

This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.