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XRP (Ripple) has secured a key financial license in the United Kingdom, increasing the possibility of being incorporated into the global financial system. However, analysts say that amid market instability triggered by conflict in the Middle East, the likelihood of surpassing $2.5 in the short term remains limited.
According to cryptocurrency media outlet Watcher.Guru on March 9 (local time), Ripple recently obtained an Electronic Money Institution (EMI) license in the UK and also received crypto asset registration approval from the Financial Conduct Authority (FCA). This allows Ripple to officially provide payment and asset services within the UK financial system, bringing it one step closer to expanding its global financial network.
Despite these regulatory achievements, XRP’s price reaction has been limited. XRP rose only about 0.2% over the weekend and continued to trade in a bearish trend. The outlet analyzed that as global markets digest geopolitical risks stemming from tensions among Israel, Iran, and the United States, major positive developments have failed to translate into price gains.
In particular, as tensions in the Middle East escalate, capital is flowing out of risk assets.
From Ripple’s perspective, geopolitical variables may also act as a burden. Ripple maintains partnerships with several Middle Eastern countries and has its regional headquarters in Dubai. Due to the ongoing conflict, trade disruptions have occurred in parts of the United Arab Emirates (UAE), Kuwait, and Bahrain, increasing market uncertainty.
Market observers believe that as institutional funds move from risk assets to safe-haven assets, the possibility of XRP rising to $2.5 in the short term is low. Former President Donald Trump has stated that the conflict could last about four to six weeks, raising the possibility that the cryptocurrency market may experience heightened volatility throughout March and April.
Disclaimer: This article is for investment reference purposes only, and no responsibility is assumed for any investment losses based on it. The content should be interpreted for informational purposes only.