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Ripple in decline: XRP decline despite expansion in Bahrain!
XRP Falls to $2.79 as Ripple Expands with Bahrain Fintech Bay. Rising concerns about future price stability.
Ripple in decline: XRP decline despite expansion in Bahrain!
Ripple (XRP) is currently showing a negative trend and is trading at a price of $2.79 on October 9, 2025, down 3% compared to the previous day. This development is accompanied by increased selling pressure and a general sense of risk in the cryptocurrency market. In particular, retail investor interest in XRP has significantly decreased over the past two days.
Additionally, there is a decline in futures open interest (OI), which now averages $8.47 billion, down from $9.09 billion on Monday. This decrease in OI suggests that traders may be losing confidence in XRP's ability to hold above the $3.00 level and successfully recover.
Expansion into the Middle East
However, amid these challenges, Ripple has taken steps to expand its presence in the Middle East. Ripple has partnered with Bahrain Fintech Bay (BFB), a fintech incubator working in collaboration with government agencies to promote digital transformation and the adoption of blockchain technology. This strategy aims to advance Bahrain's digital asset ecosystem through the development of prototypes and blockchain solutions in sectors such as cross-border payments and tokenization.
The partnership with BFB is based on the license Ripple received from the Dubai Financial Services Authority (DFSA) earlier this year. This shows the company's efforts to consolidate its market position in the region.
Market analysis and technical indicators
Technical analysis shows that XRP is below the 100-day Exponential Moving Average (EMA) at $2.85, indicating bearish sentiment. The Relative Strength Index (RSI) is at 41, indicating a stronger bearish environment. If bearish moves continue, support at $2.70, already tested in late September, could come into focus.
Additionally, a sell signal from the Moving Average Convergence Divergence (MACD) reinforces the bearish sentiment. The 200-day EMA at $2.64 could also serve as possible support if further declines occur. However, despite the negative development, there could be a potential reversal if traders are willing to buy at lower prices and speculate on a break above the descending trend line and resistance at $3.00.
Overall, XRP faces a challenging market situation while pursuing its international expansion plans to lay the groundwork for future growth opportunities.