- Ripple secured a full MiCA Crypto-Asset Service Provider (CASP) license in Luxembourg, allowing regulated operations across all 30 EEA markets.
- The approval comes days after MiCA took effect, while competitors including Tether and Binance scaled back parts of their European operations.
- XRP retreated from $1.18 to $1.14, with technical indicators pointing to multiple overhead resistance clusters.
Ripple became one of the first major global crypto firms to receive full authorization under the European Union’s Markets in Crypto-Assets (MiCA) framework after securing a Crypto-Asset Service Provider (CASP) license from Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF).
The approval, announced Monday, July 6, allows Ripple to offer regulated digital asset services throughout all 30 countries within the European Economic Area through MiCA’s passporting regime.
“It’s official: Ripple has received its EU CASP license. We are now fully MiCA-compliant and ready to meet growing European crypto demand,” the company posted on X.
The authorization follows Ripple’s in-principle regulatory approval obtained in Luxembourg during June and completes the firm’s transition into the EU’s newly harmonized crypto regulatory framework, which officially became fully enforced on July
Ripple has continued expanding its European footprint alongside its stablecoin strategy and enterprise payments business, positioning Luxembourg as one of its principal regulatory hubs within Europe.
MiCA reshapes Europe’s crypto landscape as Tether and Binance scale back operations
Ripple said it now holds more than 75 regulatory licenses globally, with major crypto firms grappling with strategic withdrawal from the European market. Following MiCA’s implementation on July 1, several major crypto firms either exited parts of the European market or reduced certain services rather than comply with the new licensing and reserve requirements.
Tether declined to pursue a MiCA license for after objecting to provisions requiring significant portions of stablecoin reserves to be maintained as cash deposits within European banks. CEO Paolo Ardoino argued the rules would reduce reserve efficiency compared with holding short-term U.S. Treasury securities.
Meanwhile, Binance continued restructuring its European operations after withdrawing licensing efforts in several jurisdictions and limiting support for stablecoins that do not comply with MiCA requirements. The exchange has gradually transitioned European users toward authorized digital assets while adjusting services ahead of the July implementation deadline.
price forecast: Weak volumes and momentum cap upside despite regulatory breakthrough
XRP rallied nearly 15% during the first four trading days of July, climbing from approximately $1.04 to $1.18 before encountering strong resistance near the psychologically important $1.20 level.
Following Ripple’s MiCA announcement, the token retreated toward $1.14, suggesting traders largely treated the regulatory approval as a “sell-the-news” event after pricing much of the optimism into last week’s rally.
Prediction Market: What Price will XRP reach in July | Polymarket July 6, 2026
Prediction markets remain largely optimistic on XRP’s medium-term outlook but are pricing less likelihood of an extended breakout. Contracts tracking July price targets assign roughly a 72% probability that XRP trades above $1.20 during the month.
From a technical perspective, short-term momentum has deteriorated. Trading volume during Monday’s pullback remained noticeably lighter than the buying activity that fueled last week’s advance, reflecting reduced conviction among buyers. On the four-hour chart, XRP has slipped below its 5-, 8-, and 13-period Simple Moving Averages, indicating short-term momentum still remains tilted in favor of bears.
Ripple (XRP) Technical Price Analysis | Source: TradingView
The Parabolic SAR has also flipped above the current price. The indicator places trailing dots above the price during emerging downtrends and below the price during uptrends. With the dots now positioned overhead, it emphasizes that bearish momentum currently dominates unless market volumes increase considerably to breach key over resistance clusters.
While the probability of XRP falling below $1.00 has eased to around 41%, expectations for a rally above $1.40 have weakened sharply, falling to approximately 18%, indicating traders expect more gradual upside.
For bulls, reclaiming the $1.15-$1.16 zone would provide the first indication that buying momentum is returning, while a decisive break above $1.20 could reopen the path toward $1.30.
On the downside, failure to hold support around $1.12-$1.13 could expose XRP to another test of the psychologically important $1.00 level as traders continue evaluating post-MiCA capital flows into European crypto markets.