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Big Breaking: Ripple’s RLUSD Approved in Dubai, XRP Price Rallies

  • Dubai Financial Services Authority (DFSA) has approved Ripple's RLUSD as a recognized crypto token for use in the Dubai International Financial Centre (DIFC), positioning Dubai as a global hotspot for digital finance.
  • The UAE is welcoming new players in the crypto space and Ripple's RLUSD is benefiting from this approach, with stablecoin use in the UAE increasing by 55% over the past year.
  • XRP price has gained 2% in the last 24 hours, trading at $2.20. Market analysts expect the recent RLUSD approval to push prices higher, but XRP has been trading between $2 and $2.50 for the last two months.
  • Ripple's approval opens new opportunities for over 7,000 firms in the DIFC, and the market is awaiting XRP to reclaim the $2.23 mark to confirm a bullish reversal in the coming days.

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