Ripple secured MiCA authorization in Luxembourg, but analysts flag potential XRP decline if it breaches the $1 support level.
Ripple received full authorization under the EU’s Markets in Crypto-Assets (MiCA) framework from Luxembourg’s financial regulator, enabling it to offer regulated crypto payments across the European Economic Area. The approval follows preliminary clearance in June and adds to Ripple’s portfolio of over 75 global licenses.
Despite the regulatory milestone, analysts cautioned that XRP could fall to $0.29 if it loses the $1 support level. The token faces renewed bearish pressure, though not all market observers share the pessimistic outlook. Ripple’s expansion contrasts with mixed sentiment on XRP’s price trajectory.