Ripple, (XRPUSD) edged higher by more than 3% over the last 24 hours in the cryptocurrency market, outpacing Bitcoin’s uptick but trailing Ethereum’s gain on Wednesday. Trading at $2.12 following a volume surge, the latest price surge has effectively reversed a 6% weekly decline as a result of general fluctuations in the crypto space. XRP reclaimed its 50% Fibonacci retracement level of $2.09 and holds above the 7-day average at $2.11.
Trading data showed that Ethereum trading volume increased by about 94% on the day, settling at $4.81 billion as the reporting time. ETH rebounded this week as short-term traders likely bought the dip after XRP’s 6% weekly decline. The $2.09–$2.11 zone now acts as support; a close above $2.17 could target $2.26, according to crypto analysts.
The market anticipates a continued uptrend in the absence of risk-off sentiment in the cryptocurrency market following a new regulatory win by Ripple. Today, Ripple secured preliminary approval for a Luxembourg Electronic Money Institution (EMI) license, its second EU regulatory win after UK approval on 9 January. This license grants passporting rights across the EEA once finalised and, together with MiCA compliance, could increase XRP’s utility in cross-border settlements. Analysts say that regulatory clarity reduces operational risks for institutions and may enable Ripple to scale RLUSD stablecoin, while the rally’s sustainability will depend on RLUSD adoption and Bitcoin’s stability above $95,000, with regulatory momentum and institutional integration shaping XRP’s longer-term trajectory.
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