Ripple’s U.S. Banking Efforts Spark Optimism, Driving XRP Traders Toward a $10 Goal

XRP Slips Modestly as Market Stays Cautious, But Ripple’s Banking Push Fuels Longer-Term Optimism

XRP edged down a little over 1% on Friday as traders grappled with persistent global uncertainties. Despite this slight pullback, the token’s overall technical outlook remains stable, as prices continue to hold above important support levels.

The steady formation of higher lows above the key $2.20 zone signals ongoing bullish momentum, suggesting XRP’s uptrend remains intact despite the market’s choppy conditions.

Optimism for XRP’s future persists, driven by Ripple’s regulatory moves, including efforts to secure a U.S. banking license and speculation about an XRP-focused exchange-traded fund (ETF). These developments are keeping investor sentiment positive even as the broader crypto market faces headwinds.

Market Context and Key Factors

• Broader crypto markets remain under pressure amid geopolitical tensions and economic uncertainties.
• Ripple is advancing its regulatory ambitions, seeking a national bank charter from the Office of the Comptroller of the Currency (OCC) and applying for a Federal Reserve master account, which could give it direct access to U.S. payment infrastructure.
• If granted, Ripple would become the first crypto-native company to gain direct links to the Fed’s systems, a significant milestone for the industry.
• Technical signals remain supportive, with XRP forming higher highs and higher lows, pointing to a continued bullish trend.
• Ripple’s growing engagement with over 50 nations exploring XRP as a bridge asset for central bank digital currencies (CBDCs) has fueled speculation that the token could climb toward the $10 mark if positive developments continue.

XRP Technical Analysis

• Over the 24-hour period from July 4 at 03:00 to July 5 at 02:00, XRP declined by 1.07%, sliding from $2.243 to $2.219, within a trading range of $0.052 (2.32%).
• The heaviest selling occurred between 07:00 and 14:00, with volumes surpassing 56 million tokens. Buyers stepped in around the $2.209 level to provide support.
• XRP attempted a rebound between 21:00 and 22:00, briefly reaching $2.230 on higher volumes, but gains were quickly erased as selling pressure resumed.
• In the final hour of trading, from 01:06 to 02:05 on July 5, the token dipped a further 0.35%, falling from $2.225 to $2.217.
• A sharp drop at 01:12 pushed XRP to $2.221 on significant volume exceeding 418,000 tokens.
• Support emerged at $2.216 around 01:29, followed by a quick recovery at 01:59, where nearly 249,000 tokens were traded, lifting prices slightly back to $2.219.