Ripple has achieved a significant regulatory milestone, securing preliminary approval for an Electronic Money Institution (EMI) license from Luxembourg’s CSSF. This move positions Ripple to scale its payment services across the European Union (EU) and European Economic Area (EEA). With this approval, Ripple continues to solidify its presence in the global financial landscape.
Ripple’s Expansion Across Europe
This new license will facilitate Ripple Payments to operate across all 27 EU and EEA member states. According to Monica Long, the President of Ripple, “The EU was amongst the first major jurisdictions to introduce comprehensive digital assets regulation. This creates the certainty financial institutions need to move blockchain from pilots to commercial scale.”
The move follows Ripple’s recent attainment of an EMI license and Cryptoasset Registration from the UK’s Financial Conduct Authority. With these new expansions, Ripple now holds over 75 regulatory licenses worldwide, enabling it to reach over 90% of daily foreign exchange (FX) markets while processing more than $95 billion in volume to date.
Strong Inflows Keep XRP Above $2
While recent weeks have seen significant outflows across other digital asset funds (approximately $454 million), Ripple’s XRP has bucked the trend. CoinShares reported strong weekly inflows of $45 million into XRP, which reflects a 400% increase compared to the previous week.
This divergence has helped maintain XRP’s price above $2. Currently trading at $2.13 with a market cap of nearly $130 billion, XRP remains the fifth-largest digital asset. Over the past 18 months, XRP has shown impressive growth, rising more than 200%.
Technical Analysis for XRP
On the technical front, XRP’s price action indicates bullish momentum. If XRP continues to stabilize above $2.00 and overcomes descending trendline resistance, analysts suggest the next price targets could range between $2.70 and $3.05. Market analyst CrediBULL Crypto highlights the potential for either a short-term pullback or a defended base around $2, targeting values closer to $3. Futures traders also note that clearance above $2.40 will be critical to establishing a long-term bullish structure.
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Why Ripple’s Licensing Progress Matters
The approval in Luxembourg underscores the importance of regulatory clarity in the adoption of blockchain technology. By securing licenses in both the EU and the UK, Ripple is paving the way for its blockchain solutions to replace outdated legacy systems with real-time, 24/7 payment capabilities.
As Ripple continues to expand its global reach, investors and crypto enthusiasts alike are closely watching developments surrounding XRP’s price movement. Stay tuned for further updates as Ripple challenges resistance levels to solidify its bullish outlook.
