Built in Dubai, made for the world: Inside the city's blockchain boom
Digital assets as payments
Decentralised Finance (DeFi)
Smart contracts
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Perhaps the best way to understand Dubai's evolution in the 'future-tech' space is through a story shared by Dr. Marwan Al Zarouni, Head of the Dubai Blockchain Centre.'Back in 2014, when we hosted Dubai's first blockchain conference, people would ask, 'What's blockchain?'' Fast forward to 2024, and the United Arab Emirates (UAE) ranks third globally in crypto and blockchain adoption (Henley Index), with Dubai at the epicentre — home to 400 blockchain firms, a dedicated National Blockchain Centre, accelerators, incubators, and a growing list of real-world use cases in decentralised finance (Defi) and smart contracts.Dubai's embrace of a sector often met with global regulatory skepticism isn't accidental. It's rooted in the city's push to diversify from oil and position itself as a hub for emerging tech. The strategy builds on its key advantages: progressive regulation, government buy-in, talent, energy and infrastructure readiness, and patient capital. Companies such as Ripple, Coinbase, and Polygon are not just operating in Dubai — they're building innovative use cases for the world from here. Some examples include blockchain-enabled Digital ID system 'UAE Pass' and the real estate tokenisation pilot by Dubai Land Department.Dubai's blockchain ecosystem is built on a solid facilitation pyramid — regulation, infrastructure, and adoption.Ajeet Khurana, Founder of Reflexical, highlights that, unlike many jurisdictions, Dubai has never reversed its liberal approach to blockchain and digital assets. Legal clarity is provided by the UAE's Securities and Commodities Authority (SCA), while the Virtual Assets Regulatory Authority (VARA) — the world's first digital assets regulator — acts as a regulatory sandbox for real-world testing. Free zones such as DIFC (Dubai International Financial Centre) and DMCC (Dubai Multi Commodities Centre) add further flexibility. For instance, DIFC's Digital Assets Law sets out clear rules for digital asset management and transfer.This regulatory clarity has spurred ecosystem development. At the apex is the Dubai Blockchain Centre, which has the mandate to educate government bodies, regulators, and businesses, making blockchain accessible and enabling real-world applications. Area 2071 is an innovation hotspot, a co-creation space where innovators, creators, and entrepreneurs use labs, incubators, and networks to solve concrete problems laid down by Dubai's Centennial Vision 2071.According to Gaurav Dubey, CEO of TDeFi and a blockchain investor, startups coming into Dubai must engage with incubators and accelerators. He is part of a DMCC accelerator programme that offers no-cost access to mentorship, credits from big tech companies, and government-led pilot projects. The DIFC Innovation Hub has recently partnered with Ripple to create a platform connecting tech firms, regulators, VCs, and educational entities.As per Khurana, Dubai thrives on its micro-communities. Events, including Token2049, Future Blockchain Summit, and various hackathons, create consistent engagement and learning environments year-round.According to Khurana, blockchain has experimented with a lot of use cases — from the metaverse to non-fungible tokens or NFTs — but has found firm ground in three areas in Dubai:Dubey points out that digital assets/crypto payments are now mainstream in Dubai. Residents can use crypto to pay taxes, buy property, shop for luxury items, pay credit card bills, or even pay salaries. The DIFC now supports tokens such as USDC and EURC. Ripple also recently became the first company licensed by the DFSA to explore tokenised payments. The upcoming launch of the Digital Dirham will further strengthen this momentum.According to Dr. Al Zarouni, blockchain-based smart contracts, especially when combined with artificial intelligence (AI), are emerging as a major area of adoption. Dubai Land Department's real estate tokenisation pilot allows for fractional property ownership — a market estimated to be worth $16 billion by 2033. Developers such as DAMAC now accept crypto payments using smart contracts, streamlining property purchases.Healthcare is another promising frontier. Dr. Marwan mentions Circular Protocol, a decentralised science (DeSci) startup working on automating clinical trials and ensuring transparent, tamper-proof data auditing. Smart contracts are also being used for auto-processing insurance claims. As he puts it, 'Blockchain use cases are being built in Dubai to be exported to the world.'According to Sumanta Roy, Head of Tata Consultancy Services, Middle East and Africa, 'There is growing synergy between India's blockchain talent and Dubai's enabling environment.' In 2024, Dubai Internet City partnered with the National Association of Software and Service Companies (NASSCOM) to support Indian entrepreneurs. DIFC also signed an MoU with NASSCOM to bolster fintech collaboration. T-Hub has partnered with Dubai CommerCity to provide Indian startups with regulatory, infrastructure, and market access support.For Dr. Marwan, a key area of collaboration is the UAE's blockchain-powered digital ID platform, UAE Pass, and India's Aadhaar framework. Dubai can offer a good opportunity for Indian firms to build Unified Payments Interface (UPI)-inspired blockchain payment — this could particularly benefit Dubai's retail and small and medium enterprise (SME) sectors, as most UPI transactions are small-scale (under ₹500).In short, several opportunities exist for blockchain startups in Dubai's government ecosystem, real estate, DeFi, DeSci, in creating new solutions in a 'sandboxing environment' and India-Dubai tech collaboration. Our interviewees highlighted some practical tips for building and growing in Dubai –a) Selection of free zones based on activity and facilities offered. For example, the DMCC hosts 500+ crypto/Web3 firms (50 of which are Indian). It provides flexible licensing to crypto trading, mining, and DeFi services with a 0% corporate tax in free zones.b) Adapting to the evolving regulations from the Central Bank, VARA, and free zones. In February 2025, VARA strengthened its monitoring of unlicensed exchanges, calling for mandatory third-party audits for smart contracts in DeFi.c) Embedding in the micro-communities and various incubator, accelerator, and mentorship programmes.Dubai's blockchain journey is steadily moving from potential to execution. Backed by government support and a growing ecosystem, the city is laying the groundwork for practical applications. For businesses exploring use cases in finance, real estate, or digital assets, Dubai offers a testbed where ideas can be built, scaled, and brought to the global market. Dubai is the only place where your landlord, lawyer, and latte could all be on blockchain.This article is authored by Shraddha Bhandari.Click this link for more on Business in Dubai.
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Economic Times
11 hours ago
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Market watchers are zeroing in on analyst Ali Martinez's bold forecast, which points to a multi-year breakout pattern that could push XRP to its highest level in history. Ripple's XRP has spent much of 2025 in a tug-of-war between bullish technical setups and macroeconomic uncertainty. Now, a bold new forecast from crypto analyst Ali Martinez has reignited debate in trading circles: could XRP really climb to $12.60 from its current ~$3.26 level? Martinez's projection hinges on a multi-year symmetrical triangle breakout that began forming after XRP's November 2024 surge. This is not a short-term chartist fantasy — the pattern stretches back nearly five years, encompassing both the 2018–2020 stagnation and the post-SEC lawsuit rebound. Here's the technical logic: The triangle's upper resistance was decisively breached in late 2024. Volume spikes have coincided with every upward test since, suggesting genuine buying pressure rather than algorithmic noise. A measured move from the triangle's widest range projects to the $12.60 zone. That's a 287% gain from current levels — not unprecedented in crypto, but demanding sustained momentum and a benign macro backdrop. ALSO READ: This crypto stock skyrockets 182% after Peter Thiel makes surprise investment - market stunned Martinez's isn't the only bullish voice. Bitget analyst Gracy Chen recently told the Economic Times she expects XRP to hit $5 by end-2025 , citing rising institutional adoption. recently told the she expects XRP to hit , citing rising institutional adoption. Technical desks at independent trading firms see short-term resistance around $3.35–$3.50 and a possible push to $3.90–$4.00 if Bitcoin maintains above $70,000. and a possible push to if Bitcoin maintains above $70,000. Long-range forecasts, including some from independent research outlets, place XRP's 2030 potential between $9.50 and $26.97 under steady adoption growth. As someone who's spoken directly to fund managers allocating to crypto in 2025, I can tell you the institutional tone is shifting — from speculative bets to infrastructure integration. XRP's liquidity profile and compliance narrative make it a candidate for such portfolios. While charts can excite traders, regulation determines XRP's ceiling in the real economy. Ripple's partial court victory over the U.S. Securities and Exchange Commission (SEC) in mid-2023 clarified that XRP sales on exchanges were not securities transactions. But the case isn't fully closed — and appeals could still shape sentiment. European and Asian markets, meanwhile, are moving faster. The EU's MiCA framework, set to fully apply by December 2025, could make XRP one of the first major tokens with full cross-border regulatory alignment. That's a signal to banks — and banks, in my two decades of covering finance, are what truly move the needle on adoption. Price trend and performance On Binance, XRP is trading around $3.28 , showing a ~4.95% rise in the last 24 hours and +11.30% over the past week. TradingView data confirms similar momentum: a ~8.9% increase over the past week, 13.6% over the month, and a substantial ~479% gain in the past year. Historical short-term movement charts daily price action from July 2025 to mid-August: August 7: XRP surged ~11% to around $3.32. August 12: Another bump of ~4.4%, trading near $3.27–$3.28. YCharts adds: as of August 13, 2025, XRP sits at $3.267, up 4.08% from yesterday and up a massive 474.7% compared to a year ago. Technical indicators (short-term) Changelly reports a rising 50-day moving average , supportive of bullish momentum in the short run (daily/4-hour charts). In general, technical tools group movements over the past ~20 days as 'short-term' indicators—Buy, Hold, or Sell signals can be generated using this framework. Price journey from early days to today Early August 2013: XRP was priced at just $0.0067 . The 2017–early 2018 bull run took it from pennies to a peak of around $3.84 . It later fell below $1 during the 2018–2020 crypto winter, only to retest $1+ levels by April 2021 before its recent resurgence. CoinLore notes its highest in mid-2025 at around $3.54 . Long-term growth CoinCodex highlights XRP's explosive rise from ~$0.0067 in 2013 to over $3 in 2025—a near 600x gain in just over a decade. Market cap milestones: $100 million by 2013 $1 billion by Feb 2017 $50 billion by late 2017. Broader factors shaping long-term outlook While short-term moves respond to technical zones and sentiment, 'long-term predictions hinge on broader adoption and macroeconomic factors.' Academic studies of XRP show unique volatility patterns. Unlike Bitcoin/Ethereum, XRP's volatility correlates more strongly in uptrend periods, suggesting investor enthusiasm drives spikes more than fear drives dips. Many casual investors forget that macroeconomic policy still drives crypto cycles. XRP's last sustained bull run in late 2020 coincided with historically low interest rates. Today, with the U.S. Federal Reserve signaling potential rate cuts into late 2025 to counter slowing GDP growth, liquidity is creeping back into risk assets. As we saw in early August, the Dow, S&P 500, and Nasdaq all rallied on dovish Fed commentary — and XRP's chart flickered green in sympathy. If this macro tailwind continues, it could amplify technical breakouts. A jump to $12.60 would: Push XRP's market cap above $670 billion (assuming supply near current 53.5 billion circulating tokens). (assuming supply near current 53.5 billion circulating tokens). Vault it into contention with Ethereum for the #2 spot by market capitalization, a reshuffle the market hasn't seen since 2017. Force a re-rating of every major crypto index and ETF, pulling more institutional flows into XRP. However, such moves would also invite speculative froth — and in past cycles, rapid triple-digit gains have often been followed by 40–60% retracements before finding a new floor. XRP's path to $12.60 is plausible on paper — but the road will be volatile, littered with regulatory landmines and macro uncertainty. For swing traders, the $3.35–$3.50 breakout level is the immediate test. For long-term holders, the real question is whether Ripple can keep deepening partnerships with financial institutions, particularly in emerging markets where cross-border payment inefficiencies are most acute. As someone who's watched XRP weather crashes, lawsuits, and near-obituaries, I can say this: momentum in crypto doesn't just come from charts. It comes from a story the market believes in. Right now, XRP's story is stronger than it's been in years — but belief can evaporate quickly without real-world wins. Q1: What is the latest XRP price prediction from analysts? Analyst Ali Martinez predicts XRP could reach $12.60 based on a multi-year breakout pattern. Q2: What is XRP's current price and resistance level? XRP is trading near $3.28, with short-term resistance around $3.35.
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Ripple's XRP has spent much of 2025 in a tug-of-war between bullish technical setups and macroeconomic uncertainty. Now, a bold new forecast from crypto analyst Ali Martinez has reignited debate in trading circles: could XRP really climb to $12.60 from its current ~$3.26 level? The breakout pattern behind the $12.60 forecast Martinez's projection hinges on a multi-year symmetrical triangle breakout that began forming after XRP's November 2024 surge. This is not a short-term chartist fantasy — the pattern stretches back nearly five years, encompassing both the 2018–2020 stagnation and the post-SEC lawsuit rebound. 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That's a 287% gain from current levels — not unprecedented in crypto, but demanding sustained momentum and a benign macro backdrop. ALSO READ: This crypto stock skyrockets 182% after Peter Thiel makes surprise investment - market stunned Other analysts are more cautious — but still bullish Martinez's isn't the only bullish voice. Live Events Bitget analyst Gracy Chen recently told the Economic Times she expects XRP to hit $5 by end-2025 , citing rising institutional adoption. Technical desks at independent trading firms see short-term resistance around $3.35–$3.50 and a possible push to $3.90–$4.00 if Bitcoin maintains above $70,000. Long-range forecasts, including some from independent research outlets, place XRP's 2030 potential between $9.50 and $26.97 under steady adoption growth. As someone who's spoken directly to fund managers allocating to crypto in 2025, I can tell you the institutional tone is shifting — from speculative bets to infrastructure integration. XRP's liquidity profile and compliance narrative make it a candidate for such portfolios. The regulatory climate could be XRP's biggest wild card While charts can excite traders, regulation determines XRP's ceiling in the real economy. Ripple's partial court victory over the U.S. Securities and Exchange Commission (SEC) in mid-2023 clarified that XRP sales on exchanges were not securities transactions. But the case isn't fully closed — and appeals could still shape sentiment. European and Asian markets, meanwhile, are moving faster. The EU's MiCA framework, set to fully apply by December 2025 , could make XRP one of the first major tokens with full cross-border regulatory alignment. That's a signal to banks — and banks, in my two decades of covering finance, are what truly move the needle on adoption. Short-term snapshot: what's happening now Price trend and performance On Binance, XRP is trading around $3.28 , showing a ~4.95% rise in the last 24 hours and +11.30% over the past week. TradingView data confirms similar momentum: a ~8.9% increase over the past week, 13.6% over the month, and a substantial ~479% gain in the past year. Historical short-term movement charts daily price action from July 2025 to mid-August: August 7: XRP surged ~11% to around $3.32. August 12: Another bump of ~4.4%, trading near $3.27–$3.28. YCharts adds: as of August 13, 2025, XRP sits at $3.267, up 4.08% from yesterday and up a massive 474.7% compared to a year ago. Technical indicators (short-term) Changelly reports a rising 50-day moving average , supportive of bullish momentum in the short run (daily/4-hour charts). In general, technical tools group movements over the past ~20 days as 'short-term' indicators—Buy, Hold, or Sell signals can be generated using this framework. Long-term picture: history and broader trends Price journey from early days to today Early August 2013: XRP was priced at just $0.0067 . The 2017–early 2018 bull run took it from pennies to a peak of around $3.84 . It later fell below $1 during the 2018–2020 crypto winter, only to retest $1+ levels by April 2021 before its recent resurgence. CoinLore notes its highest in mid-2025 at around $3.54 . Long-term growth CoinCodex highlights XRP's explosive rise from ~$0.0067 in 2013 to over $3 in 2025—a near 600x gain in just over a decade. Market cap milestones: $100 million by 2013 $1 billion by Feb 2017 $50 billion by late 2017. Broader factors shaping long-term outlook While short-term moves respond to technical zones and sentiment, 'long-term predictions hinge on broader adoption and macroeconomic factors.' Academic studies of XRP show unique volatility patterns. Unlike Bitcoin/Ethereum, XRP's volatility correlates more strongly in uptrend periods, suggesting investor enthusiasm drives spikes more than fear drives dips. Macro factors: why the Fed matters to a cryptocurrency Many casual investors forget that macroeconomic policy still drives crypto cycles. XRP's last sustained bull run in late 2020 coincided with historically low interest rates. Today, with the U.S. Federal Reserve signaling potential rate cuts into late 2025 to counter slowing GDP growth, liquidity is creeping back into risk assets. As we saw in early August, the Dow, S&P 500, and Nasdaq all rallied on dovish Fed commentary — and XRP's chart flickered green in sympathy. If this macro tailwind continues, it could amplify technical breakouts. What a move to $12.60 would mean in real terms A jump to $12.60 would: Push XRP's market cap above $670 billion (assuming supply near current 53.5 billion circulating tokens). Vault it into contention with Ethereum for the #2 spot by market capitalization, a reshuffle the market hasn't seen since 2017. Force a re-rating of every major crypto index and ETF, pulling more institutional flows into XRP. However, such moves would also invite speculative froth — and in past cycles, rapid triple-digit gains have often been followed by 40–60% retracements before finding a new floor. Bottom line for traders and long-term holders XRP's path to $12.60 is plausible on paper — but the road will be volatile, littered with regulatory landmines and macro uncertainty. For swing traders, the $3.35–$3.50 breakout level is the immediate test. For long-term holders, the real question is whether Ripple can keep deepening partnerships with financial institutions, particularly in emerging markets where cross-border payment inefficiencies are most acute. As someone who's watched XRP weather crashes, lawsuits, and near-obituaries, I can say this: momentum in crypto doesn't just come from charts. It comes from a story the market believes in. Right now, XRP's story is stronger than it's been in years — but belief can evaporate quickly without real-world wins. FAQs: Q1: What is the latest XRP price prediction from analysts? Analyst Ali Martinez predicts XRP could reach $12.60 based on a multi-year breakout pattern. Q2: What is XRP's current price and resistance level? XRP is trading near $3.28, with short-term resistance around $3.35.
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