Ripple Gets MiCA Approval Across 30 EU Countries, But XRP Plunges To $1.10

Ripple secured preliminary MiCA approval across all 30 EU countries Monday while XRP (CRYPTO: XRP) plunged to $1.10, down 10% over the past week. Ripple’s CASP License Unlocks Full Payments Access Across EuropeLuxembourg’s financial regulator, the CSSF, issued Ripple a preliminary “Green Light Letter” for its Crypto Asset Service Provider license under the EU’s MiCA framework. Combined with Ripple’s existing Electronic Money Institution license, the approval lets European banks, fintechs, and corporates access Ripple’s full crypto and stablecoin payments infrastructure through a single integration for the first time.“MiCA has helped to unlock a new wave of institutional digital assets adoption, and we are seeing that demand accelerate across the region,” said Ripple Managing Director for UK and Europe Cassie Craddock. Ripple now holds more than 75 regulatory licenses globally, following its UK FCA approval in January, and Ripple Payments has processed over $100 billion in volume across more than 60 markets to date.Why The News Isn’t Moving The PriceThe MiCA approval is a regulatory and business development milestone, not an immediate demand catalyst. It expands Ripple’s addressable market and strengthens long-term utility for RLUSD and XRP-based settlement, but it does not create immediate buying pressure on XRP itself.Price action right now is being driven entirely by technical structure and broader market weakness, not corporate news.XRP Breaks Its Wedge And Retests The June 5 LowsXRP broke below the rising wedge support that had built since the June 5 capitulation lows near $1.05, invalidating the short-term recovery structure that formed over the past two weeks. The SAR sits well overhead at $1.2928, confirming bears remain in control, and the full EMA stack from $1.1707 to $1.5526 stands as resistance at every level above current price.Price is now retesting the same $1.05 level that triggered this entire leg down. Reclaiming the wedge support and the 20 EMA at $1.1707 would mark this breakdown as a false move and resume recovery toward $1.2466. However, losing $1.05 opens fresh lows toward $1, then $0.90.Image: Shutterstock



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