XRP surged sharply on Wednesday, rising from $2.17 to $2.28 and adding more than $6 billion in market cap in under 24 hours.
The rally was driven by Ripple’s announcement that it has formally applied for a U.S. national banking license with the Office of the Comptroller of the Currency (OCC), as well as a Master Account with the Federal Reserve, a move that could position the firm as a regulated crypto-native bank.
XRP price analysis
At press time, XRP traded at $2.29, up 5.51% on the day, with 24-hour trading volume soaring 58.47% to $4.63 billion, signaling renewed market interest. The token has now broken toward the upper end of its recent price range ($2.08 to $2.30), and is approaching key resistance levels that, if breached, could validate a breakout.
XRP 1-day price chart. Source: TradingView
Technical signals are also aligning. On the 4-hour chart, XRP is attempting to break through horizontal resistance near $2.30, with a breakout target of $2.55 in sight. The RSI sits just above 63, suggesting strong momentum but not yet overbought, a potentially bullish setup.
Momentum isn’t just technical. Nasdaq-listed Webus International revealed this week it secured a $100 million conditional funding deal from Ripple Strategy Holdings to build out a treasury-backed XRP loyalty and payments program, with a $300 million mandate in play.
Meanwhile, analyst Nate Geraci noted that Ripple’s push for bank-level access and the SEC’s recent crypto ETF rulings may ultimately clear a path for an XRP spot ETF.
“The floodgates open once the regulatory framework is ready,” he said, even though the Grayscale XRP Trust still awaits final approval.
