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XRP price drops below $1.12 support despite Ripple's new Luxembourg license.

Market News
23 Jun 2026
Tokenpost
View Source
Bearish
pluang ai news

XRP's price fell 3.8% to $1.09 on June 23, breaking below a key support level of $1.12 despite Ripple securing a Crypto Asset Service Provider license in Luxembourg. This license allows Ripple to expand in Europe ahead of new regulations, but the broader crypto market weakness, including Bitcoin's drop to $62,000, pressured XRP. Technical indicators and derivatives data show growing bearish sentiment, with increased liquidations and a shift toward short positions. However, institutional interest remains, with XRP ETFs seeing inflows, suggesting potential for a short squeeze if prices rebound.

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