XRP rebounds to $1.13 as Ripple secures MiCA license, Standard Chartered cuts view

XRP climbed to $1.13 as Ripple's MiCA license boosted sentiment, though Standard Chartered's bearish outlook capped gains.

XRP rose 0.84% to $1.13 as Ripple secured full MiCA authorization in Europe, while Standard Chartered cut its long-term price outlook on the token.

"Ripple is now fully compliant and ready to scale across the European Economic Area," Cassie Craddock, Ripple's managing director for the UK and Europe, said.

The Luxembourg CSSF granted Ripple a full Crypto Asset Service Provider license, making it one of roughly 210 firms to secure MiCA approval out of more than 1,200 that previously operated in the region. XRP spot ETFs pulled in $59.46 million in June, their third straight positive month, per SoSoValue data, even as the token fell toward $1.

The conflicting signals leave XRP caught between a regulatory tailwind and institutional caution, with the CLARITY Act vote — now expected in late July or August — representing the next catalyst that could break the token out of its year-long trading range.

MiCA Approval Opens Europe to Ripple

The CASP license, combined with Ripple's existing EU money license, lets European banks and fintechs move both fiat and crypto through a single setup across all 30 EEA countries. Tether did not pursue MiCA compliance and saw its USDT pulled from European exchanges including Binance and Coinbase, leaving Ripple as one of the few fully cleared players. The license covers Ripple's payments product, not XRP directly — most settlements occur in RLUSD or fiat, and RLUSD still requires separate stablecoin approval under MiCA before it can be offered to the European public.

On-Chain Data Shows Supply Tightening

CryptoQuant data shows XRP's Binance Scarcity Index reached 0.77, the highest in more than two years. Binance XRP reserves have dropped roughly 20% since November 2024, from 3.27 billion coins to about 2.6 billion. The drawdown accelerated from May, when reserves stood near 2.8 billion. Derivatives data from Coinglass suggests short covering drove the rebound from $1, with negative funding rate clusters deepening between June 26 and 28 as the price approached the lows. Funding has turned mildly positive since early July, suggesting a positioning reset without tipping into euphoria.

Standard Chartered's outlook cut introduces a counterweight to the on-chain bullish signals. The CLARITY Act, which would codify XRP's commodity status into federal law, now has passage odds near 42% on Polymarket, down from above 70% after clearing committee in May. Standard Chartered has projected $4 billion to $8 billion in new XRP ETF inflows if the bill becomes law.

This article is for informational purposes only and does not constitute investment advice.