In a landmark move to integrate with mainstream finance, Ripple—a digital asset company closely tied to the XRP Ledger—has formally applied for a National Bank Trust Charter with the U.S. Office of the Comptroller of the Currency (OCC). Confirmed by a company spokesperson and first reported by financial journalist Eleanor Terrett, this strategic application could authorize Ripple to operate as a trust company across states under a unified federal framework.
Key Implications of Ripple’s Application
- Regulatory Clarity: Approval would solidify Ripple’s compliance with federal banking standards.
- Service Expansion: Enables broader offerings, including digital asset custody and RLUSD stablecoin issuance.
- Market Confidence: Reflects proactive engagement with regulators, a bullish signal for institutional adoption.
XRP Price Reaction: A Technical Breakdown
The news triggered immediate buying pressure:
- XRP/USD: +3.65% to $2.2709, with volume at 18,245.50.
- XRP/USDT: +3.78% to $2.2721, volume spiking to 548,698.40—highlighting retail/institutional interest.
- Support/Resistance: $2.1780 (new support) and $2.2880 (next resistance).
👉 Why XRP’s liquidity surge matters for traders
Industry-Wide Shift Toward Federal Oversight
Ripple’s move aligns with a broader trend:
- Circle (USDC issuer) also applied for a national charter.
- Anchorage Digital already holds a similar license.
This institutional push signals crypto’s maturation, fostering long-term market stability.
Broader Crypto Market Performance
- BTC/USDC: +2.2% ($109,343.67).
- ETH/USDC: +5.93% ($2,600.12).
XRP’s rally benefited from this positive backdrop.
FAQs
Q: What’s next for Ripple’s application?
A: OCC updates will be critical; expect a multi-month review process.
Q: How does this affect XRP’s legal battle with the SEC?
A: It may strengthen Ripple’s case by demonstrating regulatory compliance efforts.
Q: Should traders buy XRP now?
A: Monitor volume sustainability and key levels ($2.17–$2.28) before deciding.
👉 Expert insights on crypto bank charters
Conclusion
Ripple’s bid for a federal charter underscores crypto’s evolving regulatory landscape—a catalyst for price growth and ecosystem maturity. Traders should watch OCC developments and technical thresholds for confirmation of sustained momentum.