Ripple (XRP) News Today: June 24

The company recently secured a key regulatory approval, which is vital for its operations in the European Union, while institutional interest in XRP remains solid.

Despite these positive developments, Ripple’s cross-border token hasn’t managed to rebound and is down nearly 70% from its all-time high registered last summer.

The License in Europe

Earlier this week, Ripple obtained preliminary approval for a Crypto Asset Service Provider (CASP) license from Luxembourg’s Commission de Surveillance du Secteur Financier under the European Union’s Markets in Crypto-Assets (MiCA) regulation.

It was granted through a Green Light Letter and remains subject to final conditions. If fully confirmed, it would enable the company to offer regulated cryptocurrency services across the entire EEA, which consists of 30 countries. Commenting on the matter was Cassie Craddock, Managing Director, UK & Europe at Ripple, who said:

The ETF Front

Over the past several weeks, institutional investors have drastically reduced their exposure to Bitcoin (BTC) and Ethereum (ETH). However, this is not the case for Ripple’s native token, which continues to attract substantial capital.

SoSoValue’s data shows that inflows into spot XRP ETFs have surpassed outflows, with the last red day being March 6. The financial giants offering such products include Canary Capital, Bitwise, Franklin Templeton, 21Shares, and Grayscale, while the cumulative net inflow generated to date exceeds $1.45 billion.

XRP Price Outlook

The inflows into spot ETFs require the issuers of these investment vehicles to purchase real XRP on the market, which could positively impact the price.

Nonetheless, the asset remains heavily suppressed during the prolonged bear market and currently trades at around $1.10, representing a 20% decline on a monthly scale and a whopping 70% crash from the historic peak reached in 2025.

It’s worth noting that the steep decline hasn’t dampened the strong optimism shared by some analysts. A few days ago, X user Tom claimed that the token has formed a pattern similar to its 2024 run, which took the price from $0.50 to $3.30. This time, though, it could result in a major upswing to $8.42.

JAVON MARKS was even more bullish, arguing that “XRP’s breakout stands, which means the measured move target near $17 does as well.”

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