XRP price is starting to show signs of a bullish bounce just as Ripple makes a bold move toward becoming a nationally chartered bank. The company has officially applied for a banking license with the U.S. Office of the Comptroller of the Currency (OCC), and that’s turning heads across the market.
If approved, it could bring federal oversight to Ripple’s services, including its RLUSD stablecoin. This news is hitting as XRP trades around $3.22, up nearly 2% on the day.
Veteran trader Matthew Dixon shared on X that the license could give Ripple’s subsidiary, Standard Custody & Trust, direct access to a Federal Reserve master account.
That would mean real-time interaction with Fed payment systems and the ability to issue and redeem RLUSD 24/7. Naturally, traders are paying attention, as this development could open new doors for Ripple, and possibly push XRP price even higher.
XRP Price Recovers After Sharp Drop
Ripple’s XRP has recovered from a steep pullback that drove the token down to $3.05. The price has since climbed steadily, forming a V-shaped pattern on the 1-hour chart and reclaiming several Fibonacci retracement levels.
Current trading is situated just below the $3.24–$3.28 resistance zone, which aligns with the 0.5 Fibonacci retracement level measured from the $3.71 high to the $2.97 low.
Support remains firm at $3.15 and further down at the $3.00–$3.05 zone, which previously marked a strong bounce level. A move above $3.28 would lead to $3.42 and, who knows, test the recent high of about $3.70.’
In addition, the 14-period Relative Strength Index (RSI) is at 56.42 and is rising. That’s building momentum as the RSI surges above the midpoint level but still below overbought.There are no signs of bearish divergence, which supports the case for a potential continuation.
Traders are now focused on whether volume can support a breakout through key resistance. The ascending trendline drawn from the recent low is tracking steep price acceleration, which may indicate growing confidence among buyers.
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Ripple’s Charter Filing Draws Industry Attention
Ripple’s move to apply for a national trust bank license has added a regulatory narrative to the XRP price chart.
The mission of the company to be under federal regulation and offer stablecoin services with direct Fed rails access has gotten social media buzzing. The move, if it succeeds, may make Ripple a larger participant in the financial system.
Players in the market are watching price levels and official announcements for further cues. As XRP price continues to test resistance levels, the broader outcome may depend on how Ripple’s OCC application progresses in the weeks ahead.
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