XRP is trading at $1.07, down 0.57% in the last 24 hours, as the token remains capped at the $1.10 resistance level for a third consecutive session. While the price action looks stuck, on-chain data reveals a different story: mid-tier holders are quietly accumulating, and Ripple just secured full MiCA authorization in Europe.
Mid-tier holders add to positions
The share of XRP held by addresses with 10,000 to 100,000 XRP rose to 11.9% of total supply, up from 11.64% on July 1. The next cohort up — 100,000 to 1,000,000 XRP — also increased, to 11.75% over the same period. That's two straight weeks of accumulation from the middle of the market, not just whales. It suggests conviction at a time when the price is stuck.
Ripple's European regulatory win
Ripple secured full MiCA Crypto-Asset Service Provider authorization in Europe. That's a concrete regulatory foothold in a major jurisdiction, and it could open the door for institutional flow — one of the catalysts the market is waiting for. The timing isn't bad: the Fed held rates steady at 3.50%–3.75%, but Chair Kevin Warsh's hawkish tone — 'will deliver the 2% target' — keeps a risk-off undertone in play. A clear regulatory green light in Europe helps offset that.
Technical ceiling at $1.10
The 50-day EMA sits at $1.13, the upper Bollinger Band at $1.14. The 100-day EMA is at $1.21, the 200-day at $1.41 — all above current price. Daily RSI is near 45, MACD is fractionally negative. Perpetual futures open interest is at 2.27 billion XRP, just below this week's peak of 2.29 billion. A breakout above $1.10 with volume and OI above that peak could push XRP toward $1.13–$1.14. But a daily close below $1.00 would invalidate the recovery thesis entirely.
What could break the range
For now, XRP is range-bound between $1.05 and $1.15. The market is waiting for ETF flow headlines and exchange listing catalysts to break the stalemate. The MiCA authorization is a step, but it needs to translate into volume. If open interest pushes above 2.29 billion and XRP clears $1.10, the next leg up targets $1.13–$1.14. If not, the $1.00 support becomes the critical line in the sand.
