Ripple's XRP is failing to convert a major regulatory breakthrough into sustained price momentum. The token slipped below the $1.10 threshold on July 24, 2026, even after Luxembourg's financial regulator granted Ripple a formal Crypto-Asset Service Provider license under the European Union's Markets in Crypto-Assets framework.

XRP traded at $1.1132 as of press time, down 1.96% over the past 24 hours, according to market data. Trading volume rose 9.49% day-over-day to roughly $1.068 billion, signaling active two-way positioning rather than market inactivity. The token's market capitalization stood at approximately $69.5 billion, representing a 3.13% share of the total cryptocurrency market.

Time-frame performance tells a mixed story. XRP gained 3.14% over the past week, but remains deeply in the red over longer windows , down 18.25% over 60 days and 22.41% over 90 days. The steep multi-month drawdown suggests overhead supply from holders looking to sell into any significant rally.

Luxembourg's Commission de Surveillance du Secteur Financier (CSSF) granted Ripple a CASP license under the EU's MiCA regulation. The authorization gives Ripple passporting rights across the European Economic Area, allowing it to offer compliant crypto-asset services in all 30 EEA member states using a single license rather than pursuing individual approvals in each jurisdiction.

The approval represents one of the most significant regulatory milestones for Ripple in Europe. MiCA compliance has become a strategic requirement for crypto firms targeting institutional clients in the region, as European banks and regulated payment providers increasingly require regulatory clarity from their vendor partners.