Ripple received initial approval for an Electronic Money Institution license from CSSF, allowing it to expand payment services across the EU and EEA under MiCA. The news pushed XRP up about 3.5% to $2.14 and lifted trading volume 74% to $4.65 billion.
The Ripple Luxembourg EMI license lets the company passport services across European markets. (Ed. note: This follows approval from the UK’s Financial Conduct Authority and strengthens Ripple’s regulatory footprint.)
Traders identified support for XRP at $2.08 and initial resistance at $2.19, with higher caps at $2.29 and $2.36. Investors are watching whether volume stays above $3.5 billion, which would confirm a breakout and suggest continued bullish pressure.
The company has more than 75 licenses worldwide and processed about $95 billion in transactions. Across crypto markets, assets rose roughly 3.37%, with Bitcoin up 3.1% and Ethereum up 3.0%, while the Fear & Greed Index sat at 52.
