XRP price risks extending decline amid profit-taking, risk-averse sentiment - FXStreet

This article by FXStreet analyzes Ripple's XRP performance amid market pressure and recent strategic developments in the Middle East.

XRP faces downward pressure, trading at $2.79 with a 3% daily decline and falling futures Open Interest from $9.09 billion to $8.47 billion. Despite bearish technical indicators including MACD sell signals and RSI readings suggesting further decline toward $2.70 support, Ripple announced a strategic partnership with Bahrain Fintech Bay to expand its Middle East presence and develop blockchain solutions for cross-border payments and digital assets.

• XRP trades below key technical levels with declining retail interest and bearish momentum indicators
• Ripple partners with Bahrain Fintech Bay to advance digital asset ecosystem and blockchain adoption
• Technical analysis points to potential decline toward $2.70 support with psychological resistance at $3.00
• Partnership builds on Ripple's Dubai license and supports long-term demand for XRP and RLUSD stablecoin