XRP tests $1.10 as Ripple MiCA license and ETF inflows shape outlook

XRP traded at $1.0887 on Thursday, testing the $1.10 level as Ripple's MiCA license approval coincided with a 3.46% decline over 24 hours.

"A single authorization now passports across all 30 EEA countries, which means licensed firms get a genuinely borderless European market," Chagri Poyraz, chief strategy officer at OSL Group, said in an interview with BeInCrypto.

Ripple Payments Europe received full authorization from Luxembourg's CSSF, joining 14 firms added to the European MiCA register and lifting the total of authorized crypto providers across the bloc to 294, according to ESMA data. The license unlocks passporting rights across 30 European Economic Area countries and pairs with Ripple's existing electronic money institution license in Luxembourg, allowing European banks, fintechs and corporates to collect, exchange and pay out through a single integration.

XRP's market capitalization stood above $67 billion as of 16:41 UTC, with the token trading about 70% below its record high of $3.65. The MiCA license strengthens Ripple's regulated foothold in Europe, though the broader licensing momentum has cooled — ESMA added 37 providers on July 3, right after the transitional period closed, compared with just 14 in the latest update.

Ripple holds more than 75 regulatory licenses worldwide, including approval from the UK Financial Conduct Authority secured in January. The company's European expansion comes as the MiCA framework reshapes which providers can serve the region — crypto-asset service providers operating under earlier national regimes had until July 1 to obtain authorization or begin winding down EU activities.

The MiCA register already includes heavyweight traditional finance institutions such as BBVA, CaixaBank, Commerzbank and Standard Chartered Luxembourg, showing that established banks are building regulated crypto capacity across Europe. Portugal's Bison Bank, Croatia's state-owned Hrvatska poštanska banka and two German cooperative banks also appeared in the latest update.

The regulatory progress has not translated into price momentum for XRP. The token remains about 70% below its all-time high, and markets stayed largely unmoved by the MiCA register update. ETF inflows into crypto products have provided some support, though the broader altcoin market faces headwinds from reduced stablecoin availability in Europe after Tether's USDT was dropped by EU exchanges rather than comply with MiCA's stablecoin rules.

This article is for informational purposes only and does not constitute investment advice.