Dubai’s approval of Ripple for global transfers could mark a huge milestone for XRP. To the Moon?
XRP is an exchange token too
The crypto exchange Bitrue recently encouraged investors to invest in XRP, which led to mixed reactions within the crypto community.
Some (lot of) users on the X platform criticized Bitrue’s investment advice, warning that a bad advice could result in serious legal trouble for the exchange.
Others pointed out that XRP hasn’t performed well over the past five years, reflecting the general sentiment of disappointment among investors and holders. We can’t blaming them.
Bitrue has been a strong supporter of XRP for several years. In 2018, Bitrue made history by adopting XRP as its base token, instead of issuing an own. With this move they’re the first exchange to do so.
The platform has since introduced several features for the XRP community, including a list of tokens that can be traded against XRP, such as BONK and SHIB, added in March this year.
In 2019, Bitrue allowed XRP holders to use their tokens as collateral for loans and introduced zero-fee withdrawals for XRP transactions.
On the right path
Ripple now announced they received approval for global transfers in Dubai, marking a key milestone despite its ongoing legal battles with the US SEC.
Analysts suggest this approval highlights Ripple’s potential for international expansion, and most importantly, the potential for growth.
The Automated Market Maker on the XRP Ledger now holds over 10 million XRP.
This shows massive confidence and activity within the Ripple community, supporting decentralized exchanges and liquidity.
Summer sounds
Historically, July has been a positive month for XRP. Based on past trends, there is a possibility for good returns this month too, but the crypto market is pretty volatile right now, so there is a lot of uncertainty.
Many investors and analysts say that Dubai’s approval could boost XRP’s value, particularly if other regions follow suit, solidifying its role in global financial transactions.
This development might be a turning point for Ripple and its digital asset, as the XRP token was created to becoming a big player in the global financial markets.
Now it seems there is a real chance to fulfill this promise.
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