Ripple's EU Victory Sparks Hopes for XRP Price Uptick

XRP's price has been stuck between $1.10 and $1.18 in recent weeks, but some analysts believe this week could bring a change. On July 11, Ripple won a major regulatory victory when Luxembourg granted them a full MiCA license, allowing them to offer payment and custody services across the EU.

The win is significant for XRP, which has been struggling with low on-chain activity and declining ETF flows. According to Crypto Patel, Binance funding rates have reached bearish levels following a 72% correction, raising the chances of a short squeeze if buying volume returns.

Looking at the chart, XRP's price is currently near $1.10, having dropped by around 1% over the last day. The RSI and Ultimate Oscillator are both in neutral territory, while the MACD has begun to flatten out after spending several sessions below zero.