XRP Gains Momentum Amid Market Recovery
- XRP breaks through the 100-day Exponential Moving Average (EMA) resistance amid broader crypto market optimism.
- Ripple applies for a U.S. national bank charter with the Office of the Comptroller of the Currency (OCC) to advance compliant stablecoins and cross-border payments.
- **Open interest surges to $4.47 billion**, with trading volume spiking 93% to $7.31 billion, signaling renewed investor confidence.
Ripple (XRP) price reclaimed bullish momentum on Thursday, rising 2.5% to $2.29 as it overcame key technical barriers. The cross-border payment token's recovery aligns with positive sentiment across cryptocurrency markets.
Ripple’s Strategic Move: Applying for a National Bank Charter
Ripple CEO Brad Garlinghouse announced via X (formerly Twitter) that the company has submitted an application for a national bank charter to the OCC. Approval would subject Ripple to dual regulation by both New York State (NYDFS) and federal agencies, establishing a new benchmark for institutional trust in blockchain-based financial services.
Key implications of the charter:
- Direct access to Federal Reserve payment systems
- Enhanced compliance framework for RLUSD stablecoin ($469M market cap)
- Streamlined cross-border settlements via RippleNet
👉 Why Ripple’s banking charter could revolutionize crypto adoption
Garlinghouse emphasized:
"RLUSD stands out by prioritizing compliance—setting the standard institutions expect in a $250B+ stablecoin market."
This follows Ripple’s partnership with OpenPayd to integrate EUR/GBP fiat rails, expanding its payment network’s reach.
Technical Analysis: XRP’s Bullish Trajectory
Price action:
- Breached 50-day EMA ($2.21) and 100-day EMA ($2.22)
- MACD indicates sustained buy signal since last weekend
- RSI at 57 (up from 35), favoring buyers but nearing overbought territory
Critical levels:
- Support: $2.22 (100-day EMA)
- Resistance: $2.65 (2025 yearly high)
Caution: Trendline resistance and RSI proximity to overbought zone may precede consolidation.
FAQ: Understanding Market Dynamics
Q: What does rising open interest indicate?
A: Higher OI reflects new capital inflows and liquidity, supporting continued uptrends. Declining OI suggests bearish sentiment.
Q: How do funding rates impact prices?
A: Persistently positive rates signal bullish expectations; negative rates imply anticipated price drops.
Q: Why is Ripple seeking a bank charter?
A: To bridge crypto/traditional finance gaps through regulated services like RLUSD settlements.
👉 Explore how banking integration boosts crypto liquidity
Macroeconomic Context
- Dollar Index (DXY) fell 11% YTD to 97.09, nearing 3-year lows
- Gold hit $3,358/oz amid U.S. fiscal concerns
- Bitcoin surpassed $110K as institutional adoption accelerates
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