NEW YORK, July 9, 2026, 06:56 EDT
XRP was trading around $1.06 early Thursday in New York, staying above a support level that’s prevented the Ripple token from dropping under $1 after a midweek dip in crypto risk. It was last at $1.059.
XRP is still one of the big names in a thinner altcoin market. It ranks sixth on CoinMarketCap, which puts its market cap around $68.3 billion and shows roughly $1.29 billion in 24-hour trading volume.
Stocks steadied on Thursday. CoinDesk reported bitcoin traded up 1.2% around $63,000, with ether up 0.75%, while Nasdaq 100 futures moved higher. Tensions between the U.S. and Iran grew, but CoinDesk noted open interest in bitcoin, ether, XRP, and solana futures showed traders were still cautious about taking on more leverage.
Markets bounced after a tough Wednesday. Barron’s said bitcoin slipped when President Donald Trump announced the U.S.-Iran cease-fire was over. XRP lost 3.6%, ether dropped 1.6% and solana fell 4.9% as traders pulled back from risk.
XRP has been mostly moving on technicals, not new token news. FXStreet reported the token is trading below its 50-day, 100-day and 200-day exponential moving averages, which sit near $1.18, $1.29 and $1.50. That keeps the short-term outlook heavy.
The trade can shift fast if support breaks. CoinDesk put key support at $1.00 to $1.05, warning that a drop under that could mean $0.90 and even $0.80 are next. The outlet also flagged XRP’s weakness versus bitcoin as a risk.
Regulators were still in focus for the market. Ripple announced July 6 that it got its Crypto Asset Service Provider license from Luxembourg’s regulator under EU MiCA rules. The move gives the company regulated cryptoasset access across the European Economic Area. “We are fully compliant and ready to scale,” said Cassie Craddock, Ripple’s UK and Europe managing director. Ripple
MiCA, or Markets in Crypto-Assets, is the EU crypto framework. For XRP holders, the license doesn’t move the token’s price directly, but it lets Ripple operate more clearly in Europe. Investors have focused more on regulation and institutional access lately.
The legal picture in the U.S. is clearer than before. In August 2025, Reuters said the SEC dropped its case against Ripple after a $125 million fine and an injunction against selling XRP to institutions, but left in place a court ruling that XRP sold on public exchanges wasn’t a security.
Right now, it’s about price over history. XRP holders have to step in to keep the token above the lows. Bulls will have more to go on if XRP pushes through resistance levels soon, but as of Thursday, trading looks stuck in defense mode, not a clear breakout.
Macro data hits soon. FXStreet pointed to U.S. weekly jobless claims, June existing-home sales and central-bank speeches set for Thursday. The dollar is holding soft even as Middle East news breaks. A stronger dollar or move away from risk would put more pressure on XRP support.
Source: Original Article
