XRP Tumbles After Weak Breakout: Can MiCA Authorization Save It?

Ripple's recent regulatory win in Europe has left XRP traders wondering whether it can hold above $1.10.

The cryptocurrency, currently trading at $1.1249 on July 7, is in a retest zone after breaking above the descending trendline last week.

While the breakout looks weak, analysts point to key support levels at $1.10 and $1.06, with a loss of the latter opening a path back toward the $1 floor.

The Parabolic SAR remains below price, keeping the short-term structure technically bullish, but the 20-day EMA is essentially at spot, making it a crucial level to watch.