Ripple’s XRP Price Increases by 10%
NAIROBI (Coinchapter.com) - Ripple's XRP price has surged as news of the company's expansion plans in Africa spread. On May 17, XRP's price rose above $0.52, up 10% from its lowest point on May 13. This growth reflects investor optimism.

Source: X
Ripple Middle East and Africa Director Reece Merrick announced plans to further expand Ripple's presence in the region. The expansion plan will include launching custody services and supporting the XRPL project. This strategic move aims to capitalize on the growing demand for digital financial solutions in Africa.
Furthermore, XRP’s recent performance shows an increase of 1% in the past week and 3.5% in the past 30 days. The coin has gained 16% in the past year. Although this growth lags behind the returns of other major cryptocurrencies, it shows the potential for future profits.
XRP technical indicators show growth potential
The chart of XRP is encouraging, showing the potential for further growth. On May 17, XRP was close to the $0.56 resistance level as indicated by the Parabolic SAR. A breakout of this level could lead to a sustained up move. The Relative Strength Index (RSI) has risen to around 70, indicating an increase in buying pressure.

XRP/USD 1-day price chart. Source: TradingView
The 30-day moving average crossed above the 200-day moving average, further strengthening the bullish outlook. XRP’s 24-hour trading volume also increased, approaching $1 billion, highlighting the increased market interest.
It is worth noting that Ripple's expansion in Africa is part of its overall strategy to increase its global influence. The move coincides with the time when Ripple's legal dispute with the U.S. Securities and Exchange Commission (SEC) is about to end. The key is that the case is currently in the final settlement stage, which may result in Ripple paying a huge fine, but will also enable it to focus on growth.
Additionally, Ripple’s plans to enter the custody services space mark a shift in its strategy from traditional payment services to a broader integration of cryptocurrency-native services. This is consistent with the company’s efforts to adapt to the changing digital asset landscape.
Ripple's strategic expansion in the Middle East and North Africa drives XRP price up
On top of that, Ripple announced plans to launch custody services in the Middle East and North Africa (MENA) region, strengthening its presence. Reece Merrick, Director of Middle East and Africa, said that Ripple aims to expand massively in the region and support the XRPL project.
In addition, this news coincides with the time when Ripple's case with the U.S. Securities and Exchange Commission (SEC) is about to enter the final settlement stage. The key point is that although Ripple may face a settlement fine of up to $2 billion, resolving this case may eliminate significant uncertainty and promote further growth.

Source: Ripple
It is worth noting that Ripple’s UBRI program has been shaping the future of blockchain education and research for the past six years. The program recently renewed its partnership with Morgan State University for $1.05 million. The initiative aims to support blockchain innovators at HBCUs and train the next generation of blockchain leaders.