XRP Hovers Near $1.09 as Ripple's EU MiCA Approval Faces Market Resistance

XRP (XRP) extended its slide on Friday, hovering near $1.09 as technical indicators signaled persistent downside pressure even as Ripple secured regulatory milestones in Europe and Evernorth proposed a roughly $1 billion XRP treasury accumulation plan. As of July 25, XRP was trading at $1.0928, down about 1.13% over the past 24 hours. The token remained slightly higher on a seven-day basis (+0.33%) but was down 18.59% over 60 days and 23.21% over 90 days, with a market capitalization around $68.3 billion and roughly $1.02 billion in 24-hour trading volume.

Ripple secured a full Crypto-Asset Service Provider (CASP) license under the European Union's MiCA framework via Luxembourg's financial regulator, allowing it to provide regulated crypto-asset services across the European Economic Area. Ripple has transformed into a full-stack financial infrastructure provider through acquisitions worth $2.45 billion in 2025, including Hidden Road for prime brokerage and GTreasury for treasury management. The company recently launched Ripple Mint, a platform designed to let institutional users issue, redeem, and manage Ripple's stablecoin RLUSD through a single interface. RLUSD's circulating supply has climbed to roughly $1.51 billion.

Despite these developments, XRP's recovery attempts have remained capped. The token is trading below its 50-day, 100-day, and 200-day moving averages, with the 50-day EMA around $1.14–$1.15 viewed as the first major resistance band and $1.16 marking a recent rejection level. On the downside, the $1.07–$1.10 range has emerged as the key support area; a breakdown below $1.07 could open the door to a sharper leg lower. The relative strength index near 37 suggests weakening demand. Traders are also watching $1.00 as a psychological support, with a clean breakdown potentially exposing XRP to a deeper pullback toward the $0.85–$0.90 range.

On Friday, Ripple was set to unlock 1 billion XRP as part of the monthly escrow program maintained since 2017. Historically, Ripple has re-locked roughly 60% to 80% of released tokens, managing net additions to circulating supply at about 300 million XRP per month. Evernorth filed an amended S-4 registration statement with the U.S. Securities and Exchange Commission and formalized employment agreements for three executives, seeking a Nasdaq listing under the ticker 'XRPN' and outlining a plan to accumulate roughly 473 million XRP, positioned as a $1 billion XRP treasury. The proposal remains contingent on SEC clearance of the S-4 and completion of the Nasdaq listing process. XRP's current price sits far below Evernorth's referenced estimated purchase price of $2.44.

On the network side, XRPL 3.2.0 has been deployed, with about 89% of validators on the default Unique Node List adopting the release and overall node upgrade penetration reported at 43%. The update includes changes aimed at lowering node operating costs, improving network stability, strengthening Vault functionality, upgrading lending features, and adding security measures.

Macro conditions are adding another layer of uncertainty. With the Federal Reserve maintaining a pause stance and interest rates held at 3.50%–3.75%, risk assets have broadly struggled to sustain rallies. August has historically been an 'XRP off-season,' with the token declining in each of the past four years. Uncertainty around the proposed U.S. CLARITY Act was cited as a potential driver of hesitation among institutions. XRP spot ETF inflows were reported at roughly $2.5 million on Monday and about $6 million on Tuesday, with cumulative inflows estimated near $1.49 billion.

Across the broader crypto market, Bitcoin, Ethereum and XRP came under renewed selling pressure during the second half of the week after staging a modest recovery earlier. Bitcoin extended its correction after being rejected by the 50-day EMA at $65,043, while Ethereum steadied at $1,852 after failing to close above the 100-day EMA at $1,943. Earlier, Bitcoin, Ethereum and XRP slipped as US-Iran strikes weighed on risk assets.