XRP was trading near $2.12 on Jan. 14 after a modest pullback, holding a key support zone as price action moved into a tight consolidation range.
The token failed to sustain gains above $2.16 but overlapping candles signalled market balance rather than a breakdown.
Intraday charts showed XRP defending recent recovery levels after peaking near $2.18 and rotating lower on easing volume.
Analysts said the slowdown in volume reflected profit-taking and consolidation, not aggressive selling pressure.
Ripple announced it had secured preliminary approval for an Electronic Money Institution licence from Luxembourg’s financial regulator.
The approval, issued as a “green light letter”, moves Ripple closer to full EMI status across the European Union and EEA.
Ripple said the licence strengthens its ability to scale Ripple Payments across all 27 EU and EEA member states.
The Luxembourg approval follows a recent licence from the UK Financial Conduct Authority, bringing Ripple’s total to more than 75 global licences and registrations.
Technical indicators showed neutral conditions, with the Relative Strength Index hovering near 51 and momentum signals weakening without turning bearish.
Market participants said compressed volatility suggests XRP could be building a base ahead of its next major directional move.
At the time of reporting, XRP price was $2.09.