XRP Rallies Past $2.28 as Ripple’s Banking License Effort Ignites Fresh Buying
Ripple’s push to obtain a U.S. banking charter has given XRP a powerful boost, sending the token above $2.28 on strong trading volume. The move has traders setting their sights on the next key resistance at $2.38, which could mark the start of a broader rally.
Ripple’s Regulatory Drive Gains Traction
Ripple has formally applied for a national trust bank charter with the U.S. Office of the Comptroller of the Currency (OCC). This strategic step underscores the company’s ambition to integrate further into regulated financial services and reinforces XRP’s credibility in institutional circles.
With clearer legal standing compared to many altcoins, XRP continues to attract investors seeking compliance-friendly assets.
Market Performance Snapshot
- Over the 24-hour period from 6 July 03:00 to 7 July 02:00, XRP rose 2.36%, moving from $2.21 up to $2.26.
- Trading volume spiked near 10:00, exceeding 67 million tokens exchanged as the price broke through $2.28 resistance.
- The rally reached a session high of $2.29 before consolidating slightly above $2.24–$2.25.
Technical Picture
- The intraday range spanned about $0.08 (3.62%), with major upward moves occurring at 08:00, 10:00, and 13:00, each supported by significant volume.
- A dip to $2.24 around 18:00 was quickly absorbed by buyers, affirming the area as an important support level.
- Immediate resistance remains in the $2.28–$2.29 band. A clear breakout here could propel XRP toward the $2.38 milestone.
- In late trading (7 July 01:05–02:04), XRP advanced from $2.26 to $2.27, with notable surges in activity around 01:30 and 02:01.
Outlook and Key Levels
- Sustained strength above $2.28, especially with high volume, may open the path toward $2.38 and ultimately the $2.60–$3.40 zone.
- If support near $2.25 fails to hold, a pullback toward $2.21–$2.22 could follow.
- Overall, Ripple’s charter bid and XRP’s regulatory clarity continue to underpin a bullish bias, making the token one of the most closely watched large-cap cryptocurrencies in the current market.
