Bullish trading patterns and investor enthusiasm over Ripple Labs' application for a U.S. banking license could propel XRP toward $2.65, reigniting interest in the altcoin.
Key Highlights
- Regulatory Milestone: Ripple Labs' pursuit of a national bank charter serves as a key catalyst for XRP's upward momentum.
- Technical Breakout: A confirmed inverse head-and-shoulders pattern suggests a bullish trajectory.
Why This Matters
Ripple CEO Brad Garlinghouse announced via X (formerly Twitter) that the company is "applying for a national bank charter with the Office of the Comptroller of the Currency (OCC)." Federal and state-level oversight would establish a "new trust standard" for stablecoins, potentially boosting institutional confidence in XRP.
XRP Price Analysis: Road to $2.65?
Daily Chart Outlook
- Support Held: XRP rebounded near the 20-day EMA ($2.19) and surpassed the 50-day SMA ($2.23), signaling bullish control.
- Critical Resistance: The $2.34 level is the next hurdle. A rejection here could lead to consolidation between $2.34 and $2.00.
- Upside Potential: A breakout above $2.34 opens the path to $2.65, with $3.00 as the next psychological target.
👉 Why XRP’s banking license could redefine crypto regulation
4-Hour Chart Breakdown
- Inverse Head-and-Shoulders: This bullish pattern suggests a rally to $2.42 upon neckline breakout, with a longer-term target of $2.76.
- Risk Scenario: Failure to hold $2.14 support may trigger a drop toward $2.07, invalidating the short-term bullish thesis.
FAQs: XRP’s Banking License and Price Outlook
1. How significant is Ripple’s banking license application?
Approval would place XRP under federal/state oversight, enhancing credibility and adoption—a major win for crypto regulation.
2. What’s the technical case for $2.65?
The inverse H&S pattern and EMA/SMA crossovers indicate strong buying pressure, with $2.65 as the next key resistance.
3. Could XRP drop instead?
Yes. A fall below $2.14 would negate the bullish setup, potentially retesting $2.00 support.
Strategic Takeaway
While regulatory progress fuels optimism, traders should watch the $2.34–$2.65 zone for confirmation of a sustained rally.