Ripple Seeks US Bank Charter as XRP Targets $2.65
Ripple Labs has filed for a US national bank charter with the Office of the Comptroller of the Currency (OCC). CEO Brad Garlinghouse said the application, if approved, would bring federal and state oversight to its operations, raising trust benchmarks for XRP and the broader stablecoin market.
Technically, XRP rebounded from the 20-day exponential moving average at $2.19 and broke above the 50-day simple moving average at $2.23. This bullish momentum faces the first resistance at $2.34. A clear break above that level could target $2.65 and then $2.76.
On the four-hour chart, an inverse head-and-shoulders pattern is forming, with the neckline around $2.34. A decisive close above this neckline may drive further gains, while a drop below $2.14 risks a fall to $2.07. Traders should watch these support and resistance levels closely.
Bullish
The application for a US national bank charter with the OCC represents a major regulatory milestone for Ripple and XRP, likely boosting market confidence and legitimizing the project. Regulatory clarity often acts as a catalyst for price appreciation, as traders anticipate broader adoption and institutional interest. On the technical side, XRP’s rebound from the 20-day EMA and breakout above the 50-day SMA signal renewed bullish momentum. The formation of an inverse head-and-shoulders pattern on the 4-hour chart adds further confirmation, with clear targets at $2.65 and $2.76. While a fall below $2.14 could trigger a short-term pullback to $2.07, the combined regulatory and technical catalysts point to a strong buying opportunity in both the short and longer term.