The XRP price has been struggling to break through the $3 resistance level, which has proved to be a formidable barrier for the token over the past two months. However, recent news of Ripple’s expansion into the Kingdom of Bahrain has sparked renewed optimism among investors, fueling new bullish predictions for the altcoin.
The partnership will also showcase various solutions in areas like blockchain technology, cross-border payments, stablecoins, and tokenization. Ripple and BFB plan to lead educational initiatives and participate in local events to foster innovation and build industry partnerships.
Suzy Al Zeerah, Chief Operating Officer at BFB, echoed this sentiment, highlighting the partnership’s potential to bridge global innovators with Bahrain’s local ecosystem and to drive fintech innovation in the region.
In July, Ripple applied for a US bank charter, a move that could also enhance the utility of XRP as a bridge currency. The analysts also highlighted the introduction of Ripple USD, which may appeal to international users looking to hedge against hyperinflation while lacking access to US dollars.
The Motley Fool’s analysts also believe the Federal Reserve’s (Fed) potential reduction of benchmark rates in 2025 and 2026 could catalyze a “crypto summer.” Such conditions might drive the XRP price upward, with eyes on the $4, which could mean a 42% rally in the coming months.
When writing, the XRP price trades at approximately $2.81, resulting in a major gap of 23% between current trading prices and the altcoin’s all-time high set at $3.65.
Featured image from DALL-E, chart from TradingView.com
