Ripple Expands UAE Presence with First Blockchain Payment Clients

This development comes two months after Ripple became the first blockchain-enabled payments provider to receive a license from the DFSA in March 2025

Ripple has secured its first blockchain-enabled payments clients in the United Arab Emirates following its regulatory license from the Dubai Financial Services Authority (DFSA), marking a significant expansion in one of the world’s largest cross-border payment hubs.

However, the price of XRP has been highly volatile, sliding nearly 6% during Monday’s session. At the moment, a single XRP is trading for under $2.30. Let’s explore why XRP price is down today and what triggered the sell-off.

Ripple Secures First UAE Clients for Blockchain Payments

Digital asset infrastructure provider Ripple announced today (Monday) that Zand Bank and Mamo will be utilizing Ripple Payments, the company's blockchain-enabled cross-border payment solution, to facilitate faster and more transparent international transactions.

This development comes two months after Ripple became the first blockchain-enabled payments provider to receive a license from the DFSA in March 2025, allowing the company to manage end-to-end payments for clients across its global network.

“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,” said Reece Merrick, Managing Director for Middle East and Africa at Ripple.

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The UAE partnerships also highlight growing regional interest in blockchain-based payment solutions. According to Ripple's 2025 New Value Report, 64% of finance leaders in the Middle East and Africa region view faster payments and settlement times as the primary motivation for incorporating blockchain technology into cross-border payment flows.

Zand Bank, which holds a full banking license in the UAE, will integrate Ripple's technology as part of its digital asset services. "Our collaboration with Ripple underscores our commitment to empowering global payment solutions through blockchain technology," said Chirag Sampat, Head of Treasury and Markets at Zand Bank.

Sampat added that Zand Bank plans to launch an AED-backed stablecoin to enhance transactions in the digital economy.

Mamo, a payment service provider, will leverage Ripple's technology to support business growth in the UAE. "Our partnership with Ripple is a big step forward. It allows us to offer faster, more reliable cross-border payments for both businesses and consumers," said Imad Gharazeddine, CEO and co-founder of Mamo.

XRP News: Global Expansion and Market Presence

Ripple Payments now operates in multiple jurisdictions including Dubai, the United States, Brazil, Mexico, Australia, and Switzerland. The company reports processing more than $70 billion in volume across 90+ payout markets, representing more than 90% coverage of daily foreign exchange markets.

The company holds over 60 regulatory licenses and registrations globally, positioning it to provide tokenization, storage, exchange, and movement of digital assets for financial institutions.

Why Is XRP Price Down Today? Selloff Amid Broader Crypto Volatility

While Ripple expands its institutional partnerships, its cryptocurrency XRP has seen price volatility. XRP is currently down nearly 5% during Monday’s session and trades at $2.29.

The weekend saw significant price swings across major cryptocurrencies. Bitcoin (BTC) briefly surged past $106,000 before retreating to around $103,000. This volatility triggered over $670 million in liquidations across crypto derivatives markets, affecting positions in major cryptocurrencies including XRP.

The market turbulence comes amid macroeconomic uncertainty, including Moody's recent downgrade of the U.S. credit rating and rising concerns about inflation. U.S. 30-year treasury yields have also breached the 5% mark, contributing to market anxiety.

How Low (Or High) Can XRP Price Go? XRP USDT Technical Analysis

My technical analysis shows that XRP has stalled at local support near $2.29, a level tested many times since early 2025: first as support in January, February, and March, then several times as resistance through April and early May. The zone is again acting as support. If it gives way, XRP could slip back into the bearish regression channel it has followed for the past five months.

A drop below that line would reopen the path toward the round $2.00 support and potentially lower, toward the April lows around $1.80. I also see local support at $1.89, matching the March trough. That downside scenario activates only if the current floor breaks.

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Still, the bulls may have more room to run. To prove it, XRP first has to clear resistance at $2.47, matching the late-March high, and then $2.65, another March peak that also served as resistance at the end of