XRP Struggles to Hold $1.10 Despite Ripple’s EU MiCA Approval

Ripple’s XRP is struggling to turn a major regulatory win in Europe into clear upside momentum, with the token repeatedly failing to sustain a decisive move beyond the closely watched $1.10 level even after securing a landmark EU authorization. The muted price response is sharpening a familiar market debate: whether the rally was already priced in—or whether broader risk appetite is still too tentative for follow-through.

As of July 24, 2026 (UTC), XRP was trading around $1.1132, down 1.96% over the past 24 hours, according to CoinMarketCap data cited in the original report. Despite the dip, trading activity picked up, with 24-hour volume rising 9.49% day-over-day to roughly $1.068 billion. XRP’s market capitalization stood near $69.5 billion, giving it about a 3.13% share of the total crypto market.

Time horizons, however, tell a mixed story. XRP is up 3.14% on the week, but remains under sustained pressure over longer windows, down 18.25% over 60 days and 22.41% over 90 days. Circulating supply is approximately 62.47 billion XRP—about 62.5% of the 100 billion maximum—meaning most of the supply is already in the market, reducing the likelihood that near-term price swings are being driven by sudden changes in issuance dynamics.

The key fundamental catalyst this week was Ripple’s approval under the European Union’s Markets in Crypto-Assets regulation (MiCA). Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier (CSSF), granted Ripple a formal Crypto-Asset Service Provider (CASP) license, opening the door to so-called 'passporting' rights across the European Economic Area. In practical terms, the authorization allows Ripple to expand compliant crypto-asset services across the region using a single license framework, rather than pursuing separate approvals in each country.

For institutional-facing crypto firms, MiCA compliance has increasingly become a strategic prerequisite for accessing European clients, particularly as banks and regulated payment providers tighten vendor requirements. Market participants view Ripple’s CASP approval as a meaningful step in strengthening its 'institutional demand' narrative, even if the benefits may accrue gradually through partnerships and distribution, rather than immediately in spot price.

Separately, XRP saw another ecosystem-positive development tied to retail access. Crypto payments platform MoonPay announced a partnership with Discover, enabling Discover cardholders in the U.S. to purchase XRP through MoonPay without relying on more complex exchange onboarding. While such rails expansions can support real-world uptake over time, traders often discount them as slower-moving catalysts—especially in an environment where liquidity is cautious and short-term positioning dominates.

Technically, $1.10 remains the near-term battleground. Crypto.com’s market commentary referenced in the source described a clean close above $1.10 as important for confirming a short-term recovery. Although XRP briefly traded above that threshold, the back-to-back inability to hold gains and the concurrent 24-hour decline have kept analysts from calling it a decisive breakout.

Broader market conditions are also limiting directional conviction. Bitunix’s daily briefing noted that major assets—including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and XRP—have been ranging within tight bands, signaling a market that is still searching for a clear catalyst and is reluctant to commit to a sustained trend.

The XRP price fade following a clearly positive regulatory headline also echoes a classic 'sell-the-news' pattern. The dynamics suggest that traders may have pre-positioned ahead of the approval and then used the confirmation as an opportunity to take profits—particularly with XRP still carrying sizeable 60- and 90-day drawdowns that can incentivize overhead selling into rallies.

At the same time, the rise in volume alongside sideways price action points to active two-way flows rather than simple inactivity: dip buyers appear to be stepping in as profit-takers sell into strength. Looking ahead, Ripple’s MiCA-based authorization and distribution improvements may strengthen XRP’s longer-term fundamentals, but the market’s immediate focus remains whether XRP can firmly reclaim and hold the 'psychological' $1.10 region as support—an outcome that could shape near-term sentiment across the token’s trading range.