Ripple expands European footprint as XRP ETF inflows extend to eight weeks

Ripple has secured full MiCA approval in Luxembourg as XRP spot ETFs have extended their inflow streak to eight consecutive weeks, even as XRP traded lower over the past 24 hours.

According to Ripple, the Luxembourg Commission de Surveillance du Secteur Financier (CSSF) has granted the company a Crypto-Asset Service Provider (CASP) license under the European Unions Markets in Crypto-Assets (MiCA) framework.

Its official: Ripple has received its EU CASP license. We are now fully MiCA-compliant and ready to meet growing European crypto demand

The approval allows Ripple to passport regulated crypto services across all 27 European Economic Area member states, strengthening its regulated payments business in the region.

According to data from crypto.news, XRP (XRP) traded at around $1.13 on Tuesday, down 1.1% over the previous 24 hours, although the token remained nearly 9% higher for the week. The decline came while Bitcoin held onto weekly gains of more than 10%, despite weakness in U.S. equities and higher oil prices linked to geopolitical tensions.

Investors also continued to watch developments surrounding the final version of the GENIUS Act, expected before July 18, while Ether changed hands near $1,800.

Ripple adds another EU regulatory approval

Following its initial MiCA clearance in June, Ripple said the newly issued CASP license completes its authorization process under the EUs digital asset rules. The company noted that the approval complements its existing European e-money license, allowing it to offer regulated crypto payment services throughout the European Economic Area.

Ripple said the combined regulatory approvals support its cross-border payments business serving banks, financial institutions, and enterprises while providing a clearer compliance framework for crypto transactions. The company also expects the licensing framework to support adoption of both XRP-based payment products and its RLUSD stablecoin in Europe.

Commenting on the development, Ripples Managing Director for the UK and Europe, Cassie Craddock, said the company is now fully prepared to expand under the MiCA framework after completing the regulatory transition.

We‘re fully licensed in Europe and excited to keep building on the incredible momentum of recent months. Let’s go!

Technical indicators also suggest XRP is testing an important level following its recent rally. On the 4-hour chart, the token is trading near the 61.8% Fibonacci retracement around $1.12 while remaining above the Supertrend support near $1.11.

XRP 4-hour price chart — July 7 | Source: crypto.news

At the same time, Chaikin Money Flow has stayed slightly above zero, indicating buying interest has not fully disappeared despite the recent pullback.

ETF demand continues supporting XRP

Institutional interest has remained steady alongside Ripples regulatory progress. According to SoSoValue, XRP spot exchange-traded funds have now recorded eight consecutive weeks of net inflows, with cumulative net inflows reaching $1.49 billion.

SoSoValue data showed no new daily inflows on July 6, but cumulative assets under management continued to stand at approximately $1.05 billion, representing about 1.47% of XRPs total market capitalization.

Trading activity across listed XRP spot ETFs reached $14.48 million during the latest session. Bitwises XRP fund remained the largest with $330.84 million in net assets, followed by Canary at $265.30 million and Franklin at $261.68 million. According to SoSoValue, the XRP-linked investment products also finished the session with gains of more than 5%.

From a technical perspective, XRP continues to move within a descending corrective channel after climbing from roughly $1.02 to $1.18 earlier this month. Holding above the $1.12 support zone could keep attention on resistance near $1.15 and the recent high around $1.18, while a break below that level would expose the next support near the 50% Fibonacci retracement around $1.10.