Did Europe make the right choice by making radical decisions on crypto? Opinions differ on this complex and sensitive subject. However, the leaders of the European Union seem to persist in their approach and sign the texts. The MiCA regulation, which came into force gradually, is redrawing the contours of the crypto industry on the Old Continent. A philosophical question arises: is regulation a hindrance or an accelerator of innovation?
In brief
- Ripple has received preliminary MiCA approval in Luxembourg in the form of a “Green Light Letter”.
- The CASP license will allow Ripple to offer its services in all 30 countries of the European Economic Area.
- The dual CASP and EMI license creates a comprehensive framework for stablecoin payments like RLUSD.
- Despite this advance, XRP fell 2.9% and is currently trading around $1.10.
Luxembourg opens its doors to Ripple to conquer the whole of Europe
Ripple has received preliminary approval for a CASP license from Luxembourg regulator CSSF. This “Green Light Letter” is a strong signal sent to the entire European crypto industry. The approval comes just eight days before the July 1 MiCA deadline.
Ripple will now be able to deploy its services in the 30 countries of the European Economic Area. This progress places Ripple among the first players to take the regulatory step. In fact, 83% of European crypto companies are not yet MiCA compliant.
The American company is thus ahead of a large majority of its competitors on the market. The choice of Luxembourg as a European base is not really trivial. This small country is establishing itself as a leading regulatory hub for crypto players.
The CASP and EMI dual license, the Swiss army knife of crypto finance
Ripple now has two complementary licenses which form a complete regulatory arsenal. The CASP license is in addition to the EMI license already held by the company. This combination creates a strong legal framework for stablecoin payments.
Banks, fintechs and businesses will be able to access Ripple's infrastructure through a single integration. The system covers the entire transaction cycle: collection, conversion and payment.
This will allow Ripple to expand its regulated crypto asset services to financial institutions and businesses across the 30 countries of the European Economic Area.
Source: Ripple, official press release, June 23, 2026.
Ripple is thus positioning itself as a key player in the face of competition. Binance, whose application in Greece is threatened, illustrates the difficulties of companies less well prepared for this regulation.
A MiCA license that is not enough to relaunch XRP
Despite this major regulatory breakthroughXRP fell 2.9% after the announcement. The token is trading around $1.10, far from its peak of $3.66 reached in July 2025. The CASP license does not create a direct demand mechanism for XRP.
Financial market infrastructures are evolving towards blockchain, from cross-border payments and settlement to collateral management and tokenized assets.
Source: Cassie Craddock, Ripple, official release, June 23, 2026.
The return to $3 will depend on the actual usefulness of the token for financial institutions. XRP spot ETF flows, progress on the CLARITY Act, and adoption of the XRP Ledger will be key to future price. The value of a token is not determined by a regulatory license.
The key figures of the Ripple offensive
- 30 EEA countries covered by the license;
- 75 regulatory licenses held by Ripple;
- $100 billion in transactions processed;
- $300 million in circulation for RLUSD;
- XRP price at $1.10 at the time of writing.
Ripple takes a decisive step in its European conquest. The dual CASP and EMI license gives it a definite competitive advantage. However, the XRP market remains sluggish, proof that regulation is not everything. However, XRP whales have accumulated more than 15 billion tokens in six months. This paradox questions the deep nature of value in the crypto universe. Philosophy teaches us that institutional recognition does not create value, it reveals it.
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