What could have been a huge month for your company? Ripple announced XRP is looking to begin a recovery by forming a partnership with the United Arab Emirates. In fact, the press release announced a partnership between the Dubai International Financial Centre and the company.
According to the press release, the partnership will “accelerate Blockchain and digital asset innovations in the UAE.” It could also be the beginning of some good news in August for the company. Serumors say that its long-running lawsuit with US Securities and Exchange Commission will end within the next months.
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Ripple Unviels UAE Partnership, Can XRP Receive a Much Needed Boost?
Ripple was always destined to have a big year in 2024. This has not yet happened. XRP was performing well during July. However, the Monday crypto crash caused it to fall back. The token could be poised for a surge in the near future, according to some recent news.
Ripple, the company behind the XRP cryptocurrency token that is seeking to bring about a necessary rebound in its market value has announced a partnership in UAE. The company revealed a collaboration with DIFC’s innovation hub. The Dubai platform already acts as “hope to more than 1,000 growth-stage tech firms, innovation companies, digital labs, venture capital firms, regulators, and educational entities.”
“The partnership between Ripple and DIFC Innovation Hub will provide the means to drive blockchain and crypto adoption amongst early-stage companies,” The release stated. Ripple CEO Brad Garlinghouse stated that this partnership will be successful. “drive the adoption of blockchain technology in the region as XRPL continues to be a leading blockchain,” In the UAE,
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There’s hope that the new can boost XRP’s performance. The price of the cryptocurrency fell to $0.50, a drop of 2.75% within 24 hours. CoinMarketCap. Nevertheless, the crypto has been in green for the past 30 days. In the last 30 days, cryptos have increased in value by over 17%.
A price rise could be triggered by the UAE partnership with SEC. There is currently no timeline for this. Amidst the current market turmoil, XRP may need some time to gather the momentum it needs in order to move up.
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Source: watcher.guru