Ripple Wins Preliminary MiCA Approval as XRP ETFs Top $200M, Token Holds Near $1.10

XRP News

Ripple has cleared an important regulatory milestone in Europe, securing preliminary approval from Luxembourg's financial supervisor, the CSSF, for a Crypto Asset Service Provider license under the European Union's Markets in Crypto-Assets framework. The payments firm confirmed on Tuesday that, once remaining administrative conditions are met, the full CASP authorization would let it serve banks, fintechs and institutional clients across all 30 countries in the European Economic Area through a single regulatory passport. The approval arrives just days before the July 1 transitional deadline, when EU members begin fully applying MiCA, and builds on the Electronic Money Institution license Ripple already holds in the bloc.

The Luxembourg clearance combines two regulatory statuses for the first time, allowing Ripple to offer an end-to-end crypto asset and stablecoin payments infrastructure through one integration. Cassie Craddock, the company's managing director for the UK and Europe, said full approval would give European banks, financial institutions and fintech firms streamlined access to regulated digital-asset rails, marking what she described as a new phase of institutional adoption. Ripple employs roughly 200 staff in Europe, with its second-largest global office in London and additional bases in Luxembourg, Iceland and Ireland. The expansion underscores how MiCA is reshaping where crypto firms anchor their European operations.

On the charts, the altcoin has spent much of June compressed inside a narrow band, slipping roughly 1.8% in the latest session from $1.1313 to around $1.1109 as it retested the closely watched $1.05 to $1.10 support zone. The sharpest selling hit during a June 22 reversal, when volume spiked to 65.4 million XRP, about 84% above average. Traders note that repeatedly tested support often resolves with either a sharp bounce or a decisive break; a move below $1.05 would shift focus toward the psychological $1.00 mark. To weaken the broader bearish structure, analysts say XRP must reclaim $1.18 and ultimately the $1.28 to $1.30 region.

Institutional appetite has proven more durable than spot price action suggests. Exchange-traded products tracking XRP across the United States and Europe have drawn more than $200 million in net inflows year to date, according to figures shared by Bitwise chief executive Hunter Horsley. The firm's US-listed spot XRP ETF, launched on the New York Stock Exchange in late 2025, has grown to a market value of about $256.85 million, holding the asset directly in cold storage. June 22 alone saw $4.72 million in net inflows into the spot XRP ETF market, while Franklin Templeton's XRPZ product led weekly flows at $6.69 million, pushing the global spot XRP ETF market beyond $722 million.

Security remains a recurring concern on the XRP Ledger after a fresh scam drained an investor of roughly 14,646 XRP, worth about $16,800 at the time. A blockchain researcher tracking the suspicious activity found the victim sent the funds to an unverified wallet following a message whose memo field read “Safe XRPL verify message,” mimicking a routine verification step tied to a supposed rewards program. The wallet had already been flagged on XRP Ledger explorers, yet the transfer proceeded and, like most confirmed on-chain transactions, could not be reversed. The lure centered on a promise of 10% monthly returns, and the episode is a reminder of the dangers of blind signing unverified requests.

On the development side, the XRP Ledger Foundation announced a partnership with Common Prefix aimed at hardening network security. The non-profit, which supports the ledger's technical standards, said the collaboration will cover formal verification and security analysis of the XRPL consensus mechanism, alongside maintaining the Payment Engine specification and keeping it compatible with future xrpld releases. Formal verification mathematically proves that software behaves according to defined rules, while xrpld is the core server software powering the network. The foundation framed the work as part of a broader push to raise security standards as XRP searches for stability after weeks of subdued, range-bound trading.

COINOTAG's proprietary 42-indicator composite scoring engine rates the $1.1123 resistance at 74/100 — its strongest overhead barrier — driven by a confluence of the daily pivot point, R1 and the prior-day close, with the $1.1704 level scoring 71/100 off the 20-period EMA and prior-day high. Immediate support sits at $1.0724, scored 56/100 from the lower Bollinger Band and Keltner channel. Our derivatives data shows a barely positive 0.0006% funding rate, $715 million in open interest and a heavily skewed 3.03 long/short ratio (75% long), leaving over-leveraged bulls exposed. With RSI at 36.84, a bullish MACD cross and a Fear & Greed reading of 23 (Extreme Fear), reclaiming $1.1123 opens a path toward $1.26; a daily close below $1.0724 invalidates the recovery thesis.