XRP faces Bitcoin pressure despite MiCA approval
Ripple has secured an important regulatory advantage in Europe after achieving full compliance with the Markets in Crypto-Assets (MiCA) framework. However, in the short term, XRP's price action continues to be driven primarily by Bitcoin rather than its own fundamental catalysts.
The main positive development was Ripple's full compliance with the EU's MiCA regulations. This allows the company to offer regulated crypto services across the European Economic Area (EEA) under a single licensing framework, significantly strengthening Ripple's position in one of the world's most important digital asset markets.
Despite this positive regulatory milestone, XRP remains highly dependent on Bitcoin's performance. This was evident after reports that Strategy sold 3,588 BTC. Following the news, Bitcoin fell by more than 3.7%, dragging down most major altcoins, including XRP.
The episode once again highlights that, in the short term, XRP's performance is driven more by Bitcoin's direction than by its own fundamentals. As long as BTC remains under pressure, the upside potential for most altcoins is likely to remain limited, regardless of positive project-specific news.
XRP needs to hold $1.08 to sustain recovery
From a technical perspective, $1.08 remains the key support level for XRP and is likely to determine the next short-term price move.
A break below $1.08 would increase the probability of another test of the psychological $1.00 level.
However, if buyers successfully defend this support, XRP could retest the 50-day simple moving average (SMA) and the next resistance zone between $1.20 and $1.27.
XRP still trades in Bitcoin's shadow
Despite Ripple's improving regulatory outlook, XRP has yet to break free from its dependence on the broader cryptocurrency market. Achieving MiCA compliance strengthens the project's long-term investment case, but in the near term, this catalyst remains overshadowed by Bitcoin's price action.
For XRP to establish a sustainable uptrend, it will need not only continued progress in Ripple's business but also a broader recovery in demand for risk assets. As long as Bitcoin remains the market's primary driver, XRP's ability to outperform on its own is likely to remain limited.
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