XRP is showing signs of accumulation, breaking above the critical $2.28 resistance zone on surging volume. From 6 July 03:00 to 7 July 02:00, the token gained 2.36%, moving from $2.21 to $2.26 with peak hourly trading volume exceeding 67 million.
Ripple’s bank charter news is reinforcing a bullish technical setup, as buyers consistently defend the $2.24–$2.25 support range.
News Background
- Ripple Labs’ July 2 application for a national bank charter with the U.S. Office of the Comptroller of the Currency (OCC) has reignited investor confidence in XRP.
- If approved, the license would allow Ripple to operate as a federally regulated trust bank — marking a major leap toward deeper integration between crypto and the traditional banking system.
- Analysts say this could accelerate institutional adoption of XRP, particularly for global payments and stablecoin issuance.
- The move comes amid growing anticipation for a U.S.-based XRP spot ETF and Ripple’s potential Fed master account access, positioning the token for longer-term upside.
Technical Analysis
- XRP gained 2.36% over the 24-hour period, rising from $2.21 to $2.26 with a trading range of $0.08 (3.62%).
- The most aggressive breakout occurred at 10:00, when volume exceeded 67M and price surged through the $2.28 level.
- Support is firmly established at $2.24–$2.25, where buyers absorbed selling pressure during multiple dips, particularly at 18:00.
- In the final hour (7 July 01:05–02:04), XRP climbed another 2.29%, breaking $2.26 resistance and closing at $2.27.
- The uptrend accelerated at 01:30 and 02:01, with volume spikes confirming strong buyer interest; a local high was set at $2.27.
- Key resistance now lies at $2.29–$2.30, with upside targets between $2.60 and $3.40 if momentum sustains through the $2.38 breakout zone.