XRP Falls to $1.10 Support on June 23 Despite Ripple's EU MiCA Approval

XRP traded at $1.09976 on June 23, down 3.22% over the past 24 hours as selling pressure kept the token near the $1.10 support level. The decline marked a retreat from a 24-hour high of $1.14288. According to Coinglass data, XRP experienced $9.06 million in liquidations in the past 24 hours, with long positions accounting for $8.86 million or 97.79% of total liquidations, affecting more than 2,100 traders.

Despite the price weakness, Ripple achieved a regulatory milestone by receiving preliminary approval for a Crypto Asset Service Provider license under the EU's Markets in Crypto Assets (MiCA) framework. Once final conditions are met, this approval would allow Ripple to provide regulated crypto services across all 30 countries of the European Economic Area.