๐ Ripple Labs Eyes U.S. Banking License: Can XRP Break Past $2.65? ๐ธ๐
Ripple Labs is making waves again! ๐ In a move thatโs shaking up the crypto world, Ripple Labsโ CEO Brad Garlinghouse recently revealed on X (formerly Twitter) that the company has officially applied for a national banking license from the Office of the Comptroller of the Currency (OCC). ๐ฆโจ
If approved, this license would put Ripple under strict federal and state oversight โ a major milestone that could set a new standard for trust in the stablecoin and payments market. ๐โ
๐ XRP Price Action: Bulls vs. Bears ๐๐ป
Rippleโs bold step has sparked intense speculation about where XRP is headed next.
Just this week, XRP rebounded strongly from the 20-day EMA at $2.19 and even broke past its 50-day SMA at $2.23, signaling fresh bullish momentum. ๐๐ฅ
The immediate upside target is $2.34, a level that traders expect to test the bullsโ strength.
If buyers push XRP above $2.34, the next stop could be the overhead resistance at $2.65. A breakout above $2.65 might even open doors for a rally to $3.00! ๐ฏ๐
Adding to the optimism, the XRP/USDT pair has formed a bullish inverse head-and-shoulders pattern โ a classic technical setup hinting at a strong trend reversal if it closes above the neckline. ๐๐ A successful breakout could launch XRP to $2.42 first, with the pattern target sitting near $2.76.
โ ๏ธ The Bearish Scenario: Not So Fast!
However, the road ahead isnโt risk-free. โ If XRP fails to break above the neckline and dips below its key support at $2.14, bears could drag it down further to $2.07, trapping the price between $2.00 and $2.34 for a while longer.