Ripple’s recent application for a national bank charter could be a pivotal moment for XRP, potentially positioning the cryptocurrency for substantial long-term growth. The token has already shown strong momentum, recently breaking through the key $2.28 resistance level on high trading volume.
As Ripple Labs pursues federally regulated trust bank status, market observers see this as a move that could significantly deepen XRP’s integration into the traditional financial system. This development has sparked renewed investor optimism, drawing increased attention to the asset. Logirium’s senior brokers explore the implications of this strategic move, emphasizing how it could accelerate institutional adoption and strengthen XRP’s standing in both the crypto and banking sectors.
XRP Surges with Technical Breakout
On July 7, XRP saw a 2.36% increase in a 24-hour period, rising from $2.21 to $2.26. The price movement was marked by a surge in trading volume, exceeding 67 million tokens in an hour. The token broke through a crucial resistance level of $2.28, reinforcing the technical bullish setup for XRP.
Despite fluctuations in price, XRP held firm above the $2.24–$2.25 support range, with buyers absorbing selling pressure during dips, particularly at 18:00. This indicates strong market confidence and support from XRP investors, even in volatile conditions.
The price trend accelerated during the late hours, with XRP breaking the $2.26 resistance, eventually closing at $2.27. The token’s uptrend continues to show promise as XRP now faces key resistance at $2.29–$2.30. If it can sustain its momentum, the next upside targets lie between $2.60 and $3.40.
Ripple’s Bank Charter Bid: A Game Changer?
Ripple’s bank charter application with the U.S. Office of the Comptroller of the Currency (OCC) could be a game-changer for the company. This bid would allow Ripple to operate as a federally regulated trust bank, marking a critical step toward integrating cryptocurrency into the traditional banking system.
Ripple’s bid for this national charter comes as part of its strategy to push XRP further into the realm of mainstream finance. If approved, Ripple would be able to engage in more robust partnerships with financial institutions, positioning XRP as a key player in global payments and stablecoin issuance.
Experts believe that this move could accelerate the institutional adoption of XRP, which is already gaining traction as a cross-border payment solution. The regulatory approval of Ripple’s charter would provide the much-needed credibility for XRP in the eyes of banks and financial institutions, making it a reliable alternative to traditional payment methods.
XRP’s Potential Growth Amid Bullish Sentiment
XRP’s recent price surge aligns with growing market interest driven by its charter application. As investors digest the news, there’s a growing expectation for XRP to benefit from institutional backing. A federally regulated Ripple could pave the way for more extensive partnerships, unlocking opportunities in remittances and global money transfers.
Additionally, the anticipation of a US-based XRP spot ETF and Ripple’s potential Fed master account access could further fuel the bullish sentiment surrounding XRP. These developments would position XRP for long-term upside as its adoption increases, especially in the growing market for stablecoins and digital payments.
What’s Next for XRP: Key Price Levels to Watch
As XRP continues its upward trajectory, the next resistance levels lie at $2.29–$2.30, followed by the $2.38 breakout zone. If XRP manages to break through these critical levels, bullish targets between $2.60 and $3.40 will be in reach.
Investors should also keep an eye on buying volume and market sentiment, which will play key roles in sustaining momentum. The market’s reaction to any news surrounding Ripple’s bank charter approval or other regulatory developments will be critical in determining whether XRP can continue its climb.
Conclusion: XRP’s Future Looks Bright
Ripple’s bank charter bid and the recent technical breakout of XRP above the $2.28 resistance signal growing investor confidence in the token’s future. With significant institutional adoption on the horizon and continued bullish sentiment, XRP looks poised for long-term growth.
As Brokers notes, “The evolving regulatory landscape and Ripple’s strategic moves suggest that XRP is well-positioned to capitalize on the increased demand for digital payments and stablecoin solutions.” Investors should watch for further developments as XRP could continue to break through resistance levels, potentially reaching new highs by the end of 2025.
For investors, XRP presents a compelling opportunity, especially with the growing integration of crypto and traditional banking systems. The upcoming months will likely reveal more about Ripple’s regulatory journey and the token’s place in the future of global finance.
