XRP is trading around $1.06 early Thursday in New York, maintaining its position above a critical support level that has kept the Ripple token from falling below the $1 mark following a midweek dip in crypto risk appetite. The token was last seen at $1.059, showing resilience in a thinner altcoin market where it ranks sixth by market capitalization, according to CoinMarketCap data.
The digital asset's market cap stands at approximately $68.3 billion, with about $1.29 billion in 24-hour trading volume. This positions XRP as a major player in the altcoin space, though the broader market remains cautious.
Traditional markets showed signs of stabilization on Thursday, with the Nasdaq 100 futures moving higher. Bitcoin traded up 1.2% around $63,000, while ether gained 0.75%, according to CoinDesk. However, geopolitical tensions between the U.S. and Iran continue to simmer, and open interest in bitcoin, ether, XRP, and solana futures suggests traders remain wary of adding leverage.
The market is still recovering from a rough Wednesday session. Barron's reported that bitcoin slipped after President Donald Trump announced the end of the U.S.-Iran cease-fire. XRP lost 3.6%, ether dropped 1.6%, and solana fell 4.9% as traders pulled back from risk assets.
Technical Outlook Remains Heavy
XRP's price action has been largely driven by technical factors rather than token-specific news. FXStreet notes that the token is trading below its 50-day, 100-day, and 200-day exponential moving averages, which sit near $1.18, $1.29, and $1.50, respectively. This keeps the short-term outlook bearish.
Key support lies in the $1.00 to $1.05 range, according to CoinDesk. A break below that could open the door to $0.90 and even $0.80. The outlet also flagged XRP's relative weakness against bitcoin as a risk factor.
Regulatory Developments Offer Long-Term Support
On the regulatory front, Ripple announced on July 6 that it received a Crypto Asset Service Provider license from Luxembourg's regulator under the EU's Markets in Crypto-Assets (MiCA) framework. This allows the company to offer regulated crypto services across the European Economic Area. “We are fully compliant and ready to scale,” said Cassie Craddock, Ripple’s UK and Europe managing director.
While the license does not directly impact XRP's price, it provides regulatory clarity for Ripple's European operations. Investors are increasingly focused on regulation and institutional access as key drivers for the market.
The legal picture in the U.S. is also clearer. In August 2025, the SEC dropped its case against Ripple after a $125 million fine and an injunction against selling XRP to institutions, while leaving in place a court ruling that XRP sold on public exchanges is not a security.
Macro Data and Market Sentiment
For now, XRP holders must defend the token above its lows. Bulls will gain momentum if XRP can break through resistance levels, but as of Thursday, the trading pattern suggests a defensive posture rather than a clear breakout.
Macro data could shift the landscape. FXStreet points to U.S. weekly jobless claims, June existing-home sales, and central-bank speeches scheduled for Thursday. The dollar remains soft despite Middle East tensions. A stronger dollar or a broader move away from risk would put additional pressure on XRP's support levels.
