XRP News Today: Ripple Files for National Bank Charter, XRP Holds at $2.2

Ripple has recently filed for a national bank charter with the Office of the Comptroller of the Currency (OCC), a move that has sparked significant interest in the cryptocurrency community. This development comes on the heels of Ripple's decision to end its legal standoff with the Securities and Exchange Commission (SEC), raising hopes that XRP, Ripple's native cryptocurrency, could see a resurgence in value.

Brad Garlinghouse, the CEO of Ripple, announced the banking application on X, highlighting that this step could bring more federal oversight to Ripple, potentially enhancing its trustworthiness and positioning it as a bridge between traditional and decentralized financial systems. Additionally, Ripple has filed for a Fed Master Account via Standard Custody, which would allow it to hold $RLUSD (Ripple Stablecoin) directly from the Federal Reserve, adding an extra layer of security.

Community reactions to the news have been largely positive, with some enthusiasts envisioning Ripple becoming a bank and XRP reaching new heights, potentially even $100. However, there are also questions about how XRP will integrate with the banking license and what implications this could have for its future.

Despite the optimistic outlook, the impact on XRP's price has been relatively muted. The cryptocurrency has been consolidating around the $2.2 level, with any gains quickly corrected the following day. A macro-analysis of the price chart indicates that XRP has been following an ascending channel since its drop to $1.9 on June 22, with no signs of stopping. Given the progressive stance of the US government on cryptocurrencies, there is a high likelihood that Ripple's application could be approved, potentially streamlining the integration of crypto into traditional finance and providing XRP with long-term upside.

While some analysts predict that XRP could reach $3 in the coming days, investors are advised to remain cautious until the cryptocurrency crosses the $2.6 mark and retests the $3 level. A single long red candle could significantly alter the price trajectory, underscoring the need for prudence.

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