Peter Smith
XRP smashed through $2.28 resistance after Ripple applied for a U.S. banking license, with analysts now watching $2.38 as the next big target. The breakout came on heavy volume as institutional interest heats up.
Ripple's move to get a U.S. banking license has lit a fire under XRP, pushing it past key resistance levels on massive volume. Breaking $2.28 is a big deal technically – it's been a stubborn ceiling that finally gave way to serious buying pressure.
XRP Price Action Shows Real Strength
The numbers tell the story pretty clearly. XRP jumped 2.36% in 24 hours, climbing from $2.21 to $2.26 with what traders call "conviction buying" – the kind that suggests big money is getting involved, not just retail folks chasing momentum.
The real fireworks happened around 10:00 when volume exploded to over 67 million units as price smashed through $2.28. That's not your typical pump – that's institutional-grade volume that means business. XRP hit $2.29 before pulling back, but here's the kicker: it held above $2.24-$2.25, which is now acting as solid support.
Ripple's Banking Charter Changes Everything
Ripple filing for a national trust bank charter with the Office of the Comptroller of the Currency isn't just paperwork – it's a game changer. This puts XRP in a completely different league compared to other cryptos still fighting regulatory battles.
While most altcoins are stuck in regulatory limbo, XRP is positioning itself as the institutional-friendly option. That banking charter application signals Ripple wants to play by traditional finance rules, which is exactly what big money wants to hear.
Technical Setup Points to Higher XRP Targets
The technicals are pretty straightforward here. XRP's intraday range was $0.08 (3.62%), with breakout points at 08:00, 10:00, and 13:00 – all backed by heavy volume. That's textbook breakout behavior.
Right now, $2.24-$2.25 is your key support after bulls defended it during an 18:00 dip. The $2.28-$2.29 zone is immediate resistance, but if XRP flips this area, we're looking at a run toward $2.38. Break that, and extended targets of $2.60-$3.40 come into play.
The final hour of trading showed XRP surging from $2.26 to $2.27 – a 2.29% jump with momentum building at 01:30 and 02:01. Both moves came with sharp volume spikes that suggest the buying isn't done yet.
What's Next for XRP Price
Traders are watching for a clean close above $2.28 with volume. Get that, and XRP likely heads for $2.38, then potentially the $2.60-$3.40 range. On the flip side, losing $2.25 support would probably send it back to test $2.21-$2.22.
But here's the thing – with Ripple's regulatory progress and XRP's legal clarity, any dips are likely to get bought. This is one of the few large-cap tokens that's genuinely bullish from both a technical and fundamental standpoint right now.
Peter Smith
