XRP News Today: Ripple’s Banking License Bid Boosts XRP 7%

Ripple’s recent decision to apply for a U.S. national banking license has brought renewed attention to XRP and its evolving role within the financial sector. This strategic move has sparked discussions about XRP’s long-term price trajectory and its potential to reshape how digital assets integrate with traditional financial infrastructure.

According to crypto commentator RipplePundit, the filing for a banking license has added significant weight to these discussions. This development comes at a time when XRP is showing renewed strength, with the asset holding steady around $2.26 and sustained volume exceeding $2.55 billion. Since then, XRP has climbed to $2.5, marking a 7% increase from the previous week.

RipplePundit noted that XRP’s recent trading behavior indicates a consolidation phase underpinned by resilience. Over the past week, the token has maintained strong support above $2.15, and after testing resistance levels near $2.35, the asset finally broke above this level. This price stability, coupled with high trading volume, suggests a potential breakout. RipplePundit attributes this to growing institutional interest and confidence in Ripple’s long-term vision.

From a technical perspective, indicators remain constructive. The 50-day simple moving average around $2.25 has acted as support, and the Relative Strength Index (RSI) sits around 52, providing upward room before entering overbought territory. RipplePundit emphasizes the presence of an ascending channel pattern, which he describes as a “stair-step” structure, leading to a price breakout. Additionally, on-chain metrics indicate an increase in long positions and rising whale accumulation, reinforcing the argument that larger holders anticipate sustained gains.

The charts provided suggest XRP’s current positioning could lead to a retest of its January high of $3.39. If regulatory clarity progresses and a bullish catalyst like a U.S.-based spot XRP ETF is approved, RipplePundit outlines a case for XRP to climb toward the $10 range in the medium term. This view is supported by Ripple’s clear intention to deepen its integration within the banking sector, signaled by its charter application. While the outlook remains bullish, the analysis does not dismiss near-term volatility.

Pullbacks toward the $1.95 to $2.00 range remain possible, creating favorable entry points for buyers. However, the broader trend, supported by both technical indicators and growing institutional alignment, tilts upward. This strategic move by Ripple underscores its ambition to become a key player in the financial sector, potentially reshaping how digital assets are integrated into traditional financial infrastructure.