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Alejandro Arrieche
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Alejandro Arrieche
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The head of Ripple’s business interests in the Middle East & Africa, Reece Merrick, region shared a positive balance on the company’s effort to expand its footprint and increase adoption of blockchain technology, stablecoins, and XRP in the continent.
In a post on his X account, Merrick emphasized that an environment of “progressive regulations” has made the United Arab Emirates (UAE) “a global hub for digital assets.”
He mentioned several advancements that have fueled the adoption of stablecoins in the region including the issuance of a Dirham-backed token that has facilitated the transfer of remittances between countries in the Middle East, South Asia, and Africa.
In addition, the UAE has fostered a positive environment for the development of “investor-grade solutions” for digital asset custody while financial institutions are starting to embrace blockchain technology and asset tokenization to reduce costs and increase efficiency when it comes to banking transactions.
“Financial inclusion, cross-border remittances & innovation thrive in this ecosystem. MEA is leading the way,” Merrick commented.
The launch of Ripple’s stablecoin RLUSD has brought the company closer to its goal of becoming the preferred network for cross-border payments as this asset can now be safely traded via multiple crypto exchanges including Uphold, CoinMENA, and MoonPay.
The company’s robust presence in the Middle East and nearby regions can result in billions of dollars flowing to the crypto market from oil tycoons who may embrace blockchain technology and solutions like RLUSD to reduce transaction costs.
Following the project’s victory in court against the United States Securities and Exchange Commission (SEC), investors see a clearer path for Ripple to realize its vision of becoming the global solution for cross-border payments.
So far this year, the network’s native token XRP has delivered gains of 15.7% and is the second best-performing cryptocurrency of the top 10 with a market capitalization of $138.19 billion.
XRP Accumulates 4-Day Winning Streak
Today’s positive performance for XRP marks the fourth consecutive day of gains for the digital asset following a rebound of a key support found at $1.95 per coin.
These positive announcements and developments contribute to fuel the narrative that the Ripple’s network reach is expanding, which would result in higher demand for XRP down the road.
In addition, Donald Trump’s victory in the US presidential election will likely yield positive results for the San Francisco-based blockchain company in the legislative front.
More robust legislation for the sector in the North American country will strengthen Ripple’s credibility and may incentivize institutional players to use its platform and embrace its solutions.
The $1.95 support area has been tagged three times now which reinforces its importance for market participants. When this happens, it sends a clear message that the asset has a well-established floor from which it can bounce and rise in the near term.
Moving forward, the stage looks set for XRP to surge above its December 3 all-time high of $2.90. This could mean that XRP will reach for the first time in its history a price of $3 per coin.
The Relative Strength Index (RSI) has sent a buy signal as it moved above its moving average while the MACD is also about to send a similar indication as it seems poised to cross the signal line shortly.
This Layer-Two Solana Project Has Raised $8M Already During its Token Presale
The Solaxy presale is getting hotter by the hour as investors are pouring millions of dollars into the project’s utility token $SOLX before the event comes to an end.
This layer-two network aims to solve an issue that is preventing the Solana network from further growing its ecosystem.
The rise of meme coins and the proliferation of Solana-based decentralized finance (DeFi) protocols like Jupiter and Jito have congested the network recently.
This results in lower efficiency and questions Solana’s ability to overthrow Ethereum as the crypto community’s preferred smart contracts platform.
Solaxy solves this problem by safely bundling transactions offline to reduce the number of blocks that the network has to process at once.
Like most layer-two networks, Solaxy reduces costs, increases efficiency, and paves the way for the Solana ecosystem to keep thriving.
In addition, $SOLX holders will be compensated for staking their tokens. Currently, the project’s APY sits at 442% and a total of 2.5 billion $SOLX have been staked by early buyers. These rewards will start to be distributed once the token is claimed.
With less than an hour to go for its presale price to be increased once again, you don’t want to miss the chance to buy $SOLX at this heavily discounted price of $0.001588 per token.
Go to the Solaxy website and connect your wallet to invest in this promising presale. You can either swap USDT or ETH for $SOLX or use a bank card to complete the purchase.
Once the countdown is over on the presale website, the price will be raised again so don’t miss your chance to grab $SOLX at its current low price.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
