XRP Price Ticks Up as Ripple Secures ESMA MiCA Listing
XRP price climbed slightly as the token set the stage for the next rally, with investors pricing in Ripple’s expanded access to European markets.
Trading data from crypto exchanges show that the XRP price inched higher to $1.08, up 100 basis points in the last 24 hours, underperforming the broader market rally.
The total cryptocurrency market capitalisation increased by 1.1% to $2.27 trillion. Bitcoin saw a 24-hour gain of 1.8%, trading at $64,000, while Ethereum rose 1.2% to $1,850.
As a slew of cryptocurrency market analysts anticipate improved buying action, XRP trading volume has plunged significantly in the last 24 hours. Trading data obtained showed about $865 million in transaction value, with a 24% decline in volume on the day.
XRP$ is starting to resemble the setup that preceded its major 2024 breakout, with technical indicators hinting that momentum may be quietly building again. But this time, confirmation matters more than anticipation, analyst @Cryptofortress said on X.
A bullish pattern is only as strong as the buying pressure behind it. If key resistance levels break with volume, XRP$XRP could be gearing up for another strong move.
Boosting XRP price outlook, Ripple Payments Europe SA has been formally listed on the European Securities and Markets Authority’s (ESMA) register under the Markets in Crypto-Assets (MiCA) regulation.
This follows its earlier licensing in Luxembourg and grants a “passport” to offer regulated crypto-asset services across the entire European Economic Area.
This is bullish for XRP’s ecosystem because it solidifies Ripple’s compliance standing in a major market, potentially easing adoption by European financial institutions. It contrasts sharply with the company’s historical regulatory challenges in the United States.
The registration allows Ripple to provide regulated blockchain payment services throughout 30 participating markets under a single regulatory framework.
Moreover, the approval strengthens the company’s European expansion strategy as demand for compliant digital asset services grows among financial institutions.
The latest update from the European Securities and Markets Authority also added 14 crypto firms to the MiCA register. Consequently, the total number of licensed Crypto Asset Service Providers operating under the framework has increased to 294.
The expanding register reflects broader adoption of the Markets in Crypto-Assets regulation, which establishes common standards for digital asset businesses across Europe.
Ripple secured its European authorization through Luxembourg, enabling the company to passport its regulated services across the European Economic Area.
Additionally, the approval removes the need to obtain separate licenses in every participating jurisdiction, allowing Ripple to serve clients under one regulatory structure.
Ripple can now provide crypto asset and stablecoin payment services to financial institutions and businesses throughout the European Economic Area.
Ripple states clients can use one integration for fund collection, asset exchange, and payments. XRP Trades Soft as Ripple Urges Senate to Support Clarity Act
