XRP price rises as RLUSD gets approved in Dubai’s financial hub

XRP is experiencing renewed momentum after Ripple’s US-regulated stablecoin, RLUSD, received formal approval for use within Dubai’s leading financial free zone. This regulatory greenlight, granted by the Dubai Financial Services Authority (DFSA), has positioned Ripple for deeper institutional adoption in the Middle East and has had a visible impact on XRP’s market performance. The approval represents a key regulatory milestone for Ripple as it continues expanding the utility of its payment technologies globally. It has also ignited a wave of investor enthusiasm, fueling a modest but notable rise in XRP’s value and trading activity. Ripple’s RLUSD stablecoin approval in Dubai’s financial hub According to Ripple’s June 3 press release , RLUSD has now been cleared for use inside the Dubai International Financial Centre (DIFC), a globally recognised financial district that hosts nearly 7,000 companies. The DFSA’s approval allows Ripple to integrate RLUSD directly into its licensed payments platform operating in the region, which uses the XRP Ledger for facilitating cross-border settlements. This not only gives RLUSD a strategic foothold in one of the world’s most innovation-driven financial jurisdictions but also enhances Ripple’s broader appeal among institutional clients seeking compliance-ready blockchain solutions. RLUSD, launched in December 2024, is already regulated by the New York Department of Financial Services. The dual approval from both New York and Dubai marks RLUSD as one of the very few stablecoins globally to achieve such high-level regulatory recognition. RLUSD is fully backed by segregated reserves and high-quality liquid assets. It has undergone frequent third-party audits and is designed to meet the needs of enterprise users. With features like transparency, regulatory clarity, and rapid settlement capabilities, RLUSD is well-positioned to compete in a growing global stablecoin market. XRP price and volume responded positively to the regulatory tailwind Following the DFSA’s announcement, XRP’s market response was immediate. Within a 24-hour window, XRP has risen from a low of $2.14 to a peak of $2.22. Though modest in absolute terms, this gain came after more than a week of steady declines. The rally helped XRP break its short-term downtrend and reignited interest in the asset among traders and institutions. Moreover, XRP’s daily trading volume has increased by 11%, reaching $2.13 billion according to CoinMarketCap . This uptick indicates that the market is reacting positively to the increased regulatory clarity around Ripple’s products. However, as of the latest data, XRP is still 35% below its all-time high of $3.40, although it has surged over 327% in the past year. Institutional confidence growing as Vivopower bets big on XRP Adding to the bullish sentiment around XRP, Nasdaq-listed VivoPower International PLC (NASDAQ: VVPR) recently revealed a bold $100 million commitment to the cryptocurrency. On June 2, Vivopower announced its strategic partnership with Bitgo to facilitate the acquisition, trading, and custody of its XRP holdings. This move aligns with the company’s transformation into a digital asset treasury and decentralised finance solutions provider. Vivopower plans to leverage Bitgo’s institutional-grade trading desk and secure custody platform. According to the company, XRP will sit at the centre of its evolving business model, supporting infrastructure development on the XRP Ledger and enabling real-world blockchain applications. The initiative is backed by a $121 million capital raise, reinforcing the company’s intent to become a long-term player in the digital asset space. Ripple executives, meanwhile, have framed RLUSD’s approval as a validation of their mission to offer transparent, trustworthy, and compliant financial technologies. The DIFC’s openness to innovation, combined with rising demand for stablecoin-based payments, further cements Dubai’s position as a forward-thinking regulatory hub. With RLUSD now integrated into a compliant payment framework and institutional players like Vivopower entering the ecosystem, XRP appears to be gaining renewed traction both in terms of market valuation and real-world utility. The post XRP price rises as RLUSD gets approved in Dubai’s financial hub appeared first on Invezz

Source: Invezz