Ripple Expands UAE Presence Despite Decline in XRP Price

Dubai, UAE – May 19, 2025 – Ripple, the digital asset infrastructure provider, has secured its first blockchain payment clients in the United Arab Emirates (UAE) after receiving a regulatory license from the Dubai Financial Services Authority (DFSA). The company has announced Zand Bank and Mamo as its initial clients, marking a significant step in expanding Ripple’s services in one of the world’s largest cross-border payment markets. However, despite this positive development, the price of Ripple’s XRP token has experienced a downturn.

Ripple’s UAE Expansion

In a formal announcement made on Monday, Ripple revealed that Zand Bank and Mamo will implement Ripple Payments, their blockchain-enabled cross-border payment solution. This will allow both financial institutions to enhance transaction efficiency and transparency for international payments.

Reece Merrick, Managing Director for Middle East and Africa at Ripple, emphasized the importance of this license saying, “Securing 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 payments hubs.”

The partnership with Zand Bank, which holds a full banking license in the UAE, will allow it to integrate Ripple’s technology as part of its digital asset offerings. Chirag Sampat, Head of Treasury and Markets at Zand Bank, stated, “Our collaboration with Ripple highlights our commitment to empowering global payment solutions through blockchain technology.” Zand Bank also plans to launch an AED-backed stablecoin aimed at enhancing transaction capabilities within the digital economy.

Mamo, a payment service provider, echoed this enthusiasm with CEO Imad Gharazeddine asserting that the partnership represents a significant milestone in enhancing both business and consumer cross-border payment experiences.

XRP Price Volatility

Although Ripple is making strides in the regional fintech landscape, XRP is currently facing price challenges. The cryptocurrency’s price has dropped nearly 6% during today’s trading session, hovering around $2.29 and marking it as one of the largest losers in the cryptocurrency market today.

According to market analyst Dr. Kirill Kretov from CoinPanel, this price disconnect may be attributed to broader cryptocurrency market volatility. He noted, “We are in a period of high uncertainty, where even traditional financial markets have become highly sentiment-driven.” The recent fluctuations were sparked by significant price swings across major cryptocurrencies, with Bitcoin briefly reaching $106,000 before correcting back to approximately $103,000, leading to over $670 million in liquidations affecting various cryptocurrencies, including XRP.

The market turmoil is compounded by macroeconomic factors, particularly Moody’s downgrade of the U.S. credit rating and increased concerns regarding inflation. The rise in U.S. 30-year treasury yields, surpassing the 5% mark, has also elicited anxiety among investors.

Technical Outlook for XRP

From a technical perspective, XRP is currently testing crucial support levels near $2.29, a price point that has served as support since early 2025. If this level fails to hold, analysts predict that XRP could decline to around $2.00, with additional support at $1.89, the trough seen in March. Conversely, a recovery could see XRP pushing through resistance levels at $2.47 and $2.65, potentially leading to a retest of the $3.00 mark.

Though the immediate future for XRP exhibits uncertainty, Ripple’s recent partnerships and expanding client base represent a positive trend towards the adoption of digital asset technologies in traditional finance. Given the current market fluctuations, Kretov advises participants to adapt to the volatility, as short-term price changes are likely to persist.

Conclusion

As Ripple continues to bolster its presence in significant financial markets such as the UAE, the accompanying volatility in XRP’s price underlines the complex and often unpredictable nature of the cryptocurrency landscape. Institutional adoption remains a critical driver of the sector’s evolution, and Ripple’s activities signal ongoing interest in blockchain technology amidst broader economic uncertainties.

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