Overview
- Luxembourg’s regulator granted Ripple a full MiCA Crypto‑Asset Service Provider license on Monday, July 6, permitting regulated custody, exchange and transfer services across the European Economic Area.
- Traders responded with profit taking that pushed XRP below a short‑term support near $1.10 and into roughly the $1.01–$1.08 area, testing the $1.00 psychological level.
- Technical hurdles remain: buyers must reclaim resistance around $1.17 and clear several medium and long moving averages for a durable trend change, while current indicators show mixed short‑term momentum and longer‑term bearish bias.
- Market structure amplified losses as dense leverage clusters above $1.10 and near $1.14 generated forced liquidations, and thin exchange reserves and concentrated whale holdings kept available supply tight.
- On‑chain fundamentals and institutional interest are intact with tokenized real‑world assets on the XRPL reported above $4 billion and steady spot‑ETF flows, but renewed geopolitical shocks or large sell orders could deepen near‑term declines and force further liquidations.