XRP Rises on Ripple’s U.S. Bank License Momentum

XRP is once again capturing investor attention as Ripple’s growing regulatory ambitions in the U.S. banking sector spark renewed optimism. The focus keyword XRP leads this week’s discussion among traders and analysts as Ripple’s bank license application and potential inclusion in mainstream financial infrastructure underline the token’s evolving institutional use case.

Despite a modest pullback in the past 24 hours, the digital asset’s overall chart structure remains bullish. XRP dipped about 1.07%, easing from recent highs amid global economic concerns, yet it continues to form higher lows, particularly above $2.20, a level now acting as a key support zone. This trend strengthens market confidence, indicating steady accumulation even as traders navigate broader market headwinds.

Ripple’s Regulatory Advancements Fuel Optimism

The global financial landscape remains volatile, clouded by geopolitical friction and unresolved trade issues. However, Ripple’s advances on the regulatory front provide a silver lining. In a significant stride, Ripple submitted an application to secure a national banking license from the Office of the Comptroller of the Currency (OCC). At the same time, the company is seeking access to a Federal Reserve master account—a move that, if approved, would allow Ripple to connect directly to core payment rails previously exclusive to traditional banks and federal institutions.

This dual initiative could position Ripple as the first crypto-native company to gain such access, offering huge implications not only for Ripple’s own ecosystem but also for XRP’s future utility in cross-border settlements. Regulatory clarity has long been a barrier for broader adoption, and Ripple’s push for legitimacy could prove to be a turning point in fostering mainstream trust.

Market watchers also continue to speculate on a possible XRP ETF, which could further validate the asset’s institutional appeal. Additionally, XRP is being explored as a bridge token in central bank digital currency (CBDC) initiatives by more than 50 countries—a testament to its scalability and cross-border interoperability potential.

Bullish Patterns Support Potential Rally

XRP’s technical setup supports the bullish sentiment. The asset underwent a relatively minor correction over a 24-hour span, dipping from $2.243 to $2.219—marking a 1.07% decrease. Despite this movement, several indicators point to resilient buying interest and potential upward momentum.

Trading volumes spiked during key hours, notably between 07:00 and 14:00, exceeding 56 million units. This surge in activity revealed robust support around $2.209, where buyers stepped in with consistency. A subsequent rebound attempt between 21:00-22:00 lifted the price to $2.230, although it lacked the momentum to carry higher, signifying cautious sentiment among market participants.

In more granular one-hour data between 01:06 and 02:05 on July 5, the price slipped another 0.35%, from $2.225 to $2.217. A sharp drop at 01:12 saw XRP hitting $2.221 on elevated volume—over 418,000 units. However, this was quickly followed by consolidation at $2.216 before a modest rally to $2.219 occurred at 01:59 on a sizable buy order of nearly 249,000 units.

These patterns—higher lows, strong support reactions, and increasing buy-in on dips—underscore growing confidence in the asset’s price floor. If positive sentiment continues and institutional catalysts such as Ripple’s bank license and ETF rumors gain traction, analysts argue a move to the $10 mark could materialize in the medium to long term.

Related: Expert Advice: Sell XRP If You’re Confused

Key Takeaways

• Ripple’s pursuit of a U.S. banking license and Fed master account could reshape XRP’s role in global payments.
• Despite near-term price softness, XRP exhibits strong structural integrity with continued institutional interest.
• A successful regulatory breakthrough or ETF approval could serve as a major bullish trigger for XRP.
• Potential exists for XRP to reach $10, contingent on sustained adoption and macroeconomic alignment.

XRP’s resilience in volatile conditions, combined with Ripple’s proactive regulatory strategy, suggests that the cryptocurrency remains positioned for long-term growth. As 2024 unfolds, XRP could serve as a bellwether for how digital assets integrate into traditional financial systems.