XRP News Today: XRP Approaches Breakout Level as Ripple Seeks National Bank Charter

XRP, the cryptocurrency associated with Ripple, has been consolidating beneath a persistent downward trendline for several months. The price has been compressing further as each test of resistance narrows the range. This consolidation phase has been a period of anticipation for many investors, as the potential for a significant price movement looms.

According to crypto analyst Steph Is Crypto, who shared a detailed breakdown on the 3-day chart, XRP may now be approaching a pivotal turning point. He stated that everything has changed for XRP, and his analysis is centered on a descending triangle structure that has been forming since January 2025, suggesting that the asset is nearing the end of a prolonged period of tightening price action. In his video, Steph pointed out that volume has declined substantially during this compression phase, and he considers this a critical precursor to a large move.

The analyst emphasized $2.33 as a clear breakout level for traders to monitor. He identified this value as the upper boundary of the descending resistance line, saying that a daily close above that level would confirm the breakout. At the time of his analysis, XRP was trading just above $2.18, approaching that breakout zone. If the candle closes decisively above $2.33 on the 3-day chart, Steph said it would validate the bullish thesis that XRP is entering the next impulsive phase of its cycle.

To outline possible upside targets, Steph used a trend-based Fibonacci extension tool, measuring from XRP’s 2024 low to its recent high of $3.39 in January and extending to the $1.61 retracement point marked in April. This calculation produced several key levels for the next potential rally. He highlighted $5.38 as the initial significant target (0.618 Fibonacci), suggesting it would be a reasonable level for partial profit-taking. Further projections place potential moves around $11.31, $23.78, and even as high as $37.63 if momentum remains strong. Steph acknowledged that such levels would take time to reach, but noted that “back in 2024 we also had a similar thing… and the moment XRP broke the trend line, price literally exploded.”

While the focus was largely on the bullish scenario, Steph also addressed possible retracements. He argued that $1.61, the April low, is likely to hold and serves as the base of the current structure. Immediate support sits at $2.06 and $1.95, with $1.80 acting as a final key level in the short-term structure. He noted that a minor rejection could occur before a sustained breakout.

Ripple, the company behind XRP, has made a significant move by applying for a national bank charter with the Office of the Comptroller of the Currency. This application, announced by CEO Brad Garlinghouse, aims to gain both state and federal supervision, further solidifying Ripple's compliance and trustworthiness in the financial sector. Additionally, Ripple has applied for a master account with the Federal Reserve through its subsidiary Standard Custody. This direct access to the Fed would allow Ripple to store reserves for its RLUSD stablecoin at the central bank, providing a robust backing for the stablecoin.

The potential impact of these developments on XRP and RLUSD is substantial. A national bank charter would place Ripple on par with major banking institutions, enhancing the legitimacy of both RLUSD and XRP. The combination of OCC regulation, NYDFS oversight, and Fed connectivity could create a stablecoin tailored for institutional use, facilitating faster and more cost-effective cross-border payments.

Analysts have weighed in on the potential price impact of these developments. One popular community analyst, "XRP Investing," suggested that the approval of a national bank charter could significantly boost XRP's price. However, the exact extent of this impact remains uncertain. To gauge the potential price increase, various valuation models have been proposed.

One model, the Institutional Utility Model, assumes that Ripple captures a fraction of SWIFT's yearly messaging volume by routing payments through XRP. This model suggests that the network would need approximately $600 billion worth of XRP in circulation to serve that flow, potentially valuing each XRP token at around $10.91. Another model, the RLUSD + Fed Access Model, focuses on stablecoin flows and assumes that RLUSD matches USDC's market cap, with XRP bridging half of RLUSD's on-chain transfers. This model suggests a potential value of around $13.65 per XRP token.

The Tokenization Market-Share Model values XRP's role in moving tokenized real-world assets, with analysts expecting tokenization to exceed $16 trillion by 2030. If Ripple captures a portion of this market, the token could be valued at around $21.80. Finally, the Network-Value-to-Transaction (NVT) Model links market cap directly to expected on-chain activity, projecting a potential value of around $16.36 per XRP token.

Several analysts have made predictions about XRP's future price. Clyde, a popular analyst, expects XRP to reach a new all-time high in July or August, with a first major target of $4.50. Another well-known software engineer predicts that XRP could reach between $30 and $50, emphasizing conviction over timing. Egrag Crypto, a crypto analyst, has predicted that the XRP price could rally to as high as $2.40 soon, based on the altcoin's breakout from a descending channel. Vincent Van Code, an AI founder, believes that XRP has the potential to reach between $30 and $50. DonAlt's analysis suggests that the technical indicators and market conditions are aligning in a way that could lead to a significant price increase for XRP, potentially mirroring the 2017 surge.