$XRP
Price Consolidation: XRP is trading sideways around $2.03, showing a muted reaction to the positive news.
Technicals: Indicators are neutral with RSI at 51. Key support is at $2.00, with major resistance at $2.41.
Catalyst: Ripple secured conditional U.S. approval to establish a national trust bank, a landmark regulatory step.
Market Overview
XRP is currently priced at $2.03, reflecting a modest 0.67% increase over the last 24 hours.
The 24-hour trading volume stands at approximately $1.61 billion, with a total market capitalization of $122.17 billion.
The price is consolidating in a tight range between $2.00 and $2.03, indicating market indecision despite significant fundamental developments.
Core Driving Factors
Ripple obtained conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to create a federally supervised national trust bank.
This new entity, Ripple National Trust Bank, will focus on providing custody, settlement, and digital asset management for institutional clients, enhancing Ripple's infrastructure for cross-border payments.
This approval is a major regulatory milestone, placing Ripple's stablecoin (RLUSD) under a dual regulatory framework and setting a higher standard for compliance in the stablecoin market.
Campaign Info
Binance is running a "Buy Crypto with 30% Off" mission, which allows users to get a discount on purchasing several cryptocurrencies, including XRP.