XRP Breaks Above $2.28 as Ripple’s Bank Charter Bid Ignites Bullish Surge

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News

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.