XRP Surges Past $1.10 on Renewed ETF Buying and Ripple's European Expansion

XRP has staged a significant recovery after a tough start to July, surging past $1.10 on July 3 and reaching an intraday high of $1.11, up around 3% from its low of $1.02 just two days prior.

This rebound comes as several positive factors have aligned in XRP's favor, including renewed ETF buying, a bullish technical signal, and fresh momentum from Ripple's European expansion.

Analyst Ali Martinez pointed out that the Supertrend indicator has flashed a buy signal for the first time since mid-June, which historically precedes significant price movements. The same indicator correctly identified prior declines of 19% and 16%, lending credibility to the current signal.

Ripple's move into European markets is also contributing to XRP's positive sentiment, with Ripple Payments launching under preliminary Crypto-Asset Service Provider approval through the EU's Markets in Crypto-Assets (MiCA) framework. This comes as some rival platforms have scaled back their European services due to MiCA compliance requirements.