The cryptocurrency market is trying to recover from a recent sharp decline. Ripple has obtained important regulatory approval in Dubai, and XRP is assessed at strategically significant levels.
Ripple Secures License in Dubai
On March 13, 2025, Ripple achieved a significant milestone by securing a full crypto payment license from the Dubai Financial Services Authority (DFSA). This approval officially allows Ripple to offer regulated crypto payment services at the Dubai International Financial Centre (DIFC)—an essential financial hub in the Middle East with its independent regulatory framework. With this license, Ripple becomes the first blockchain-powered company to be licensed by the DFSA, solidifying its position in the region's emerging digital market.
XRP's Technical Barrier Analysis
Despite positive regulatory news, XRP's technical condition remains in question. On the daily chart, XRP trades within an ascending channel, but a potential 'head and shoulders' formation presents a bearish threat. The 100-day moving average level (around $2.52) acts as a key resistance. A successful breakout above this level could invalidate the current pattern and allow further growth. However, should XRP fail to hold the current support zone, major support lies around the 200-day moving average at $1.62.
Final Thoughts
Ripple's regulatory approval in Dubai raises confidence, yet traders focus on XRP's next move concerning key moving average levels. A successful breakout may pave the way for new highs, while failure to hold support could lead to deeper corrections.
The Dubai license boost confidence in Ripple, but XRP's technical hurdles remain a crucial factor for future market movements.
