Ripple Secures CASP Licence, XRP/USD Forms Symmetrical Triangle

Ripple has received a full Crypto-Asset Service Provider (CASP) licence under the Markets in Crypto-Assets (MiCA) regulation from Luxembourg's financial regulator, the CSSF.

The approval allows Ripple to offer regulated crypto payment services across all 30 countries of the European Economic Area (EEA).

The market reaction was relatively muted, with XRP showing little upside, as the decision appears to have been largely priced in following the preliminary approval announced in June.

The technical picture for XRP/USD is a symmetrical triangle on the four-hour chart, with a bullish reversal that has since developed into this pattern.