XRP Surges Beyond $2.28 as Ripple’s Bid for Bank License Triggers Buying Frenzy

Ripple’s Bid for Bank Charter Sends XRP Above $2.28 as Trading Volumes Surge

Ripple’s move to obtain a national bank charter in the U.S. has sparked renewed excitement in the crypto market, pushing XRP’s price above key resistance levels amid a surge in trading activity.

Between 6 July 03:00 and 7 July 02:00, XRP advanced 2.36%, climbing from $2.21 to $2.26, with hourly trading volumes topping 67 million XRP at their peak. This upward momentum lifted the token above the critical $2.28 resistance zone, signaling growing investor confidence and fresh accumulation.

Ripple’s bank charter efforts have reinforced optimism around XRP, with buyers stepping in to defend support around the $2.24–$2.25 level during market dips.

Ripple’s Bank Charter Plans in Focus

  • On July 2, Ripple Labs submitted an application to the U.S. Office of the Comptroller of the Currency (OCC) to secure a national bank charter.
  • Such a charter would allow Ripple to operate under federal supervision as a trust bank, further bridging the gap between digital assets and traditional banking.
  • Analysts believe that obtaining this license could encourage greater institutional involvement with XRP, especially in cross-border payments and stablecoin applications.
  • The news comes amid speculation about a potential XRP spot ETF in the U.S. and Ripple’s prospects for acquiring a Fed master account, both of which could serve as significant drivers for XRP’s long-term growth.

XRP Technical Analysis

  • Over the 24-hour span, XRP rose 2.36%, trading in a range of $0.08 (3.62%) and finishing at $2.27.
  • The most significant move occurred at 10:00, with trading volumes exceeding 67 million XRP, helping XRP break decisively through the $2.28 resistance mark.
  • Strong support has emerged between $2.24 and $2.25, with buyers absorbing sell pressure during price pullbacks, especially around 18:00.
  • In the final hour of trading (7 July 01:05–02:04), XRP gained an additional 2.29%, surpassing $2.26 and hitting a local high at $2.27.
  • Trading volume spikes at 01:30 and 02:01 underscored continued buying interest.
  • Immediate resistance is now seen at $2.29–$2.30, with possible upside targets ranging from $2.60 to $3.40 if XRP can sustain its momentum and clear the $2.38 threshold.

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