Ripple’s native token (XRP) traded near $1.15 on July 6, with traders watching whether the token can hold short-term support after a weekly rebound.
According to The Coin Headlines market data, the token rose by around 1.20 percent over 24 hours and 7.70 percent over seven days, with a market cap above 71 billion dollars and a rank of sixth among crypto assets.
Notably, the move comes as market analysts focus on a retest zone near $1.10 and $1.06. At the same time, Ripple secured full Crypto-Asset Service Provider authorization in Luxembourg, giving the company a stronger regulatory base across Europe.
XRP price retests key short-term support
Crypto analyst EGRAG CRYPTO said XRP is at “the real short-term test” on the four-hour chart. The analyst noted that XRP had broken below the 21 EMA, which he described as his short-term momentum gauge.
He said the structure is “not dead yet” because XRP is wicking into the 50 EMA near the $1.10 support zone. In his view, bulls need to defend $1.10 to keep the short-term structure alive. A loss of that level could open the door to a deeper retest near $1.06.
The $1.06 area matters because it also lines up with the upper side of a previous triangle breakout, according to the analyst. EGRAG said he would watch that zone for a possible short-term long setup if XRP shows a bounce. He also made clear that the setup is tactical and not tied to his long-term XRP position.
The same chart view puts the token in a narrow decision range. A hold above $1.10 would show that buyers are still active after the pullback. A break below $1.06 would increase caution and weaken the short-term breakout structure.
Analysts eye breakout, but targets remain uncertain
Other traders have also pointed to a larger XRP setup. Crypto trader Nehal noted that XRP is testing the upper boundary of a long downtrend that began after its July 2025 high near $3.65. The trader said a breakout from the $1.12 to $1.15 area could start a new rally.
Some analysts have issued aggressive price targets. Mikybull Crypto said “something massive is coming for XRP” and pointed to XRP’s chart against Bitcoin.
Another analyst, Celal Kucuker, said a breakout could allow the token to “outperform Bitcoin by 10x.” These are market views, not confirmed outcomes.
Those targets are still well beyond the current price. If bulls are bearing out, the token will require heavy demand, increased crypto strength and further buying appetite to progress to the $4, $5 or $12 levels they suggested. The next support zone to watch is the $1.10 area in the near term.
But XRP has been a performer with extreme volatility in its past price cycles, such as its run from under $1 to over $3 in the last major price increase.
However, the price action suggests that the token will need to break above immediate resistance levels to reach more targets.
ETF inflows and Binance scarcity draw attention
XRP spot ETF flows also remain in focus. SoSoValue data showed XRP spot ETFs recorded $17.19 million in net inflows last week, extending an eight-week inflow streak. The cumulative net inflow figure stood near $1.49 billion.
Steady ETF inflows suggest that institutional demand has not disappeared despite resistance near current price levels. However, inflows alone do not guarantee a breakout. XRP still needs buyers to defend short-term support and push price above the recent resistance range.
On-chain data also added another supply-side signal. CryptoQuant analyst Arab Chain said the Binance XRP Scarcity Index rose to about 0.77 over three days, its highest level since mid-2024, while XRP traded near $1.10.
The analyst said the rise may reflect lower tradable supply on Binance, possibly due to fewer deposits or more withdrawals to off-exchange wallets.
He also warned that the indicator does not confirm a continued uptrend by itself. Demand will decide whether tighter exchange supply supports more upside.
Ripple’s EU approval adds regulatory support
Luxembourg has issued its preliminary CASP authorization to a MiCA license, according to Ripple. The approval will enable Ripple to offer cryptoasset services to the EEA in the EU under the Markets in Crypto-Assets regulatory framework, according to The Coin Headlines reporting today.
In the meantime, the Licence is based on Ripple’s earlier preliminary approval by Luxembourg’s CSSF. In June, Ripple stated that the CASP approval would help move Ripple Payments to all 30 countries of the European Economic Area and prepare the company for greater cryptoasset activity in Europe.
Approval comes on the heels of Ripple’s 100 percent Electronic Money Institution license in Luxembourg. Licenses put Ripple in a strong position to expand its regulated payment and crypto offerings to the European Union.
The news provides Ripple with a better outlook on how it will be treated in Europe, as multiple crypto companies are still working out MiCA rule compliance.
The approval is a company-level event for XRP traders but doesn’t impact XRP price action considering market demand and general conditions in the crypto market.
