Ripple Labs has applied for a US banking license, following Circle’s move, as crypto firms push for regulatory clarity and stronger ties to traditional finance.
Ripple Confirms National Bank Charter Application
On July 3, Ripple CEO Brad Garlinghouse confirmed that the company applied for a national bank charter with the US Office of the Comptroller of the Currency (OCC). He shared the update on X, stating:
“True to our long-standing compliance roots, Ripple is applying for a national bank charter from the OCC.”
The license would place Ripple under federal oversight. Its RLUSD stablecoin is already regulated by the New York Department of Financial Services (NYDFS). If approved, the new charter would extend oversight nationwide.
Garlinghouse said the move would establish a unique benchmark for trust in the stablecoin market.
Ripple Follows Circle’s Lead
Ripple’s decision came shortly after Circle applied for a national trust bank license from the OCC. Circle, the issuer of USDC, announced its application two days earlier.
The timing follows Senate approval of the GENIUS Act, a bill that introduces strict rules for stablecoin issuers. The law assigns oversight to the OCC and sets capital, reserve, and audit standards for large-scale issuers.
Circle CEO Jeremy Allaire said the company wants to align with new US rules. He called the move a proactive step as the country works toward stablecoin regulation.
Currently, Anchorage Digital is the only crypto firm with a national bank charter.
Ripple Also Applies for Fed Master Account
In addition to the OCC license, Ripple also submitted an application for a Master Account with the Federal Reserve. If granted, the account would allow Ripple to hold RLUSD reserves directly with the US central bank.
Garlinghouse said this step would provide “an additional layer of security to future proof trust in RLUSD.”
Ripple made the request through Standard Custody, the crypto custody firm it acquired in February 2024.
Garlinghouse added that the crypto landscape is shifting. He noted that banks are now more open to crypto engagement, in contrast to earlier concerns under “Operation Chokepoint 2.0” — a term used to describe government pressure to cut off crypto firms from banking access.
He emphasized that Congress is now working on clear regulation and that Ripple’s applications aim to meet these standards.
XRP Forms Bullish Flag With 25% Breakout Target
XRP/ USDT has formed a bullish flag pattern on the daily chart, as of July 3, 2025. This technical setup often appears after a strong price rally and signals the potential for further upside if confirmed. The bullish flag consists of two main parts: a steep rise called the flagpole, and a downward-sloping consolidation channel that forms the flag itself.
The flagpole in this case formed in late April through early May, while the consolidation phase lasted until early July. On July 3, XRP broke above the flag’s upper trendline around $2.27. This move coincided with a daily close above the 50-day Exponential Moving Average (EMA), which stands at $2.21, and a daily volume of 1.87 million. If the breakout confirms with continued buying pressure, XRP could rally 25% from the breakout level.
This would push the price from $2.27 to approximately $2.83, as shown by the upward projection on the chart. The next resistance area aligns with this $2.83 level, which previously acted as a ceiling in March 2025. For the pattern to remain valid, XRP must stay above the upper boundary of the flag. A close below the $2.21 EMA would invalidate the bullish setup and return XRP to its previous consolidation range.
XRP RSI Crosses Above Key Level, Signals Strengthening Momentum
As of July 3, 2025, the Relative Strength Index (RSI) for XRP on the daily chart reads 57.06, marking a notable shift above the neutral 50 level. RSI (Relative Strength Index) is a momentum oscillator that measures the speed and change of price movements on a scale from 0 to 100. Readings above 50 usually signal that bullish momentum is building, while values above 70 may indicate overbought conditions.
XRP’s RSI remained under pressure through much of May and June, often hovering below the midline. However, the recent move above 50, along with a rising RSI moving average (currently at 47.95), confirms a momentum shift in favor of bulls. This development aligns with the bullish flag breakout seen in the price chart and strengthens the case for a potential 25% upside move from $2.27 to $2.83.
Momentum-based indicators like RSI often act as early signals before large price movements. If the RSI continues climbing toward 60–65, it would support follow-through buying in the short term. At the same time, if RSI fails to stay above 50, it would weaken the current bullish structure and suggest the rally is losing strength. As it stands, XRP shows improving momentum, reinforcing the ongoing technical breakout.
XRP to INR Gains 3.3% in 24 Hours, Maintains 30-Day Uptrend
Meanwhile, XRP is trading near ₹192 against the Indian Rupee (INR) XRP/INR, according to data from CoinGecko. The token has gained 3.3% in the last 24 hours, continuing its short-term upward momentum. Over the past 30 days, XRP/INR rose 3.2%, showing steady growth despite brief volatility.
The lowest point in the past month came around June 23–24, when the price dipped to ₹170. Since then, XRP has rebounded strongly, marking multiple higher lows and recovering nearly 13% from that local bottom. The chart also shows three sharp peaks above ₹195 during the June 10–18 period, signaling strong resistance at ₹200.
In broader terms, XRP/INR is up 384.6% year-on-year, reflecting significant long-term growth tied to legal clarity in the US and increased utility of Ripple’s RLUSD stablecoin. XRP has slightly outperformed both Bitcoin (BTC) and Ethereum (ETH) in percentage terms over the last 14 days.
The price now approaches the ₹195–₹200 resistance range again. If XRP breaks and holds above ₹200, it could continue its bullish breakout momentum supported by the recent RSI trend and bullish flag pattern on the USD chart.