XRP News Today: Ripple Seeks U.S. Banking License Boosting XRP's 50% Upside Potential

XRP, the cryptocurrency associated with Ripple, is poised for a significant breakout as the company takes steps to enhance its regulatory standing and expand its financial infrastructure. Ripple has formally applied for a national banking license with the U.S. Office of the Comptroller of the Currency (OCC). This move, if approved, would position Ripple as one of the few crypto-native firms with federal charters, joining Anchorage Digital. The application also includes a request for access to a Federal Reserve Master Account, which would allow Ripple to hold reserves directly with the Fed. This development is seen as a major step toward transforming the crypto banking infrastructure and could significantly boost trust in RLUSD, Ripple’s stablecoin, which is nearing a $500 million market cap.

The regulatory alignment comes at a critical juncture for Ripple, as the ongoing lawsuit with the U.S. Securities and Exchange Commission (SEC) nears resolution. Ripple's proactive approach to regulatory compliance could sway the outcome in its favor, potentially leading to a more favorable resolution for the company and its cryptocurrency, XRP.

Institutional demand for XRP is also on the rise. Grayscale’s Digital Large Cap Fund (GDLC) has recently included XRP in its portfolio, marking a significant milestone for the cryptocurrency. This move sends a clear signal of institutional recognition for XRP, which is further bolstered by the filing of ten XRP ETF applications and a 95% approval probability cited by analysts. A standalone XRP ETF could be on the horizon, further driving institutional interest and investment.

From a technical perspective, XRP is showing firm support above an ascending trendline dating back to June 21. The cryptocurrency recently bounced off this level, forming a bullish engulfing candle followed by a spinning top, indicating resilience despite market indecision. Key technical levels to watch include support at $2.21, immediate resistance at $2.32 and $2.38, and breakdown risks at $2.17 and $2.12. A golden cross, where the 50-day EMA crosses above the 200-day EMA, is also being seen as a bullish indicator. Combined with an RSI moving mid-range and a rising wedge pattern, traders see a setup ripe for a breakout. If XRP holds above $2.21 and confirms a bullish reversal, a swing toward $2.50 may be on the horizon.

Broader market conditions also support a possible rally for XRP. A symmetrical triangle pattern has emerged on the daily chart, often a precursor to explosive price movement. Bollinger Bands have tightened, signaling a squeeze—and potentially, a breakout. This triangle is part of a bullish pennant, and a confirmed breakout could push the XRP price toward its yearly high of $3.40, representing nearly 50% upside from current levels. The macroeconomic climate, with the Nasdaq 100 and S&P 500 setting new records and the U.S. Dollar Index dropping, also favors a rising risk-on mood that could send more money into cryptocurrency, benefiting XRP.

Ripple's recent launch of its Ethereum-compatible sidechain (EVM) for the XRP Ledger has further expanded the cryptocurrency's universe. This sidechain enables developers to deploy smart contracts on XRPL based on Ethereum, introducing multichain DeFi capabilities, XRP-based lending, and institutional-grade interoperability across major blockchain ecosystems. This expansion makes XRP more valuable and beneficial in the long run, favoring positive predictions for the cryptocurrency. Some projections see the token eventually reaching $1,000, provided with full regulatory clarity and global acceptance of Ripple’s payment rails.

In the near term, XRP’s price action will likely be driven by sentiment, updates on the Ripple lawsuit, and announcements regarding ETFs. With both technical and regulatory catalysts aligning in its favor, trading above $2.50 seems possible even before the October ETF decision deadlines. A successful breakout above the $2.38 resistance would pave the way for $2.50 and higher, especially if there are institutional inflows and if Ripple’s regulatory strategy succeeds.