XRP Soars Past $2.28 on Explosive Volume—$2.30 in Sight as Ripple’s Banking Charter Gains Momentum

XRP just punched through $2.28 like a hot knife through butter—backed by breakout trading volume that’d make Wall Street’s HFT algos blush. Next stop? A clean run at $2.30.

Ripple’s relentless push for a banking charter is fueling the fire. Because nothing screams ‘adoption’ like cozying up to the very institutions crypto was meant to disrupt. The irony’s thicker than a banker’s bonus.

Bulls are charging. Bears are scrambling. And the charts? They’re printing money—if you’re on the right side of the trade.

News Background

• Ripple's application for a national trust bank charter with the U.S. Office of the Comptroller of the Currency (OCC) has provided a fundamental catalyst for XRP.
• The move signals deeper integration into the regulated financial system and is widely seen as a bullish step toward institutional adoption.
• As the regulatory narrative shifts, XRP has emerged as one of the few altcoins with both legal clarity and rising institutional interest.

Price Action Summary

• XRP rallied 2.36% over the 24-hour period from 6 July 03:00 to 7 July 02:00, climbing from $2.21 to $2.26 with high conviction buying.
• The breakout was defined by a surge in trading volume, peaking at over 67 million units during the 10:00 hour as price pushed through $2.28.
• Price action printed a daily high of $2.29, before pulling back and consolidating above support at $2.24–$2.25.

Technical Analysis

• The intraday range spanned $0.08 (3.62%), with key breakout points at 08:00, 10:00, and 13:00 — each confirmed by above-average volume.
• $2.24–$2.25 has established itself as strong support after bulls defended this zone during an 18:00 dip.
• The $2.28–$2.29 area now acts as immediate resistance. A decisive flip of this zone could open room for a run toward $2.38 — a level technical analysts are closely watching as the next major breakout trigger.
• In the final 60 minutes of the session (7 July 01:05–02:04), XRP surged from $2.26 to $2.27, a 2.29% jump, with momentum building at 01:30 and 02:01 — both marked by sharp volume spikes.

What Traders Are Watching

• A sustained close above $2.28 with volume confirmation could push XRP toward the next upside targets of $2.38, then $2.60–$3.40 in extension.
• Failure to hold $2.25 support would likely trigger a retest of $2.21–$2.22 demand zone.
• With a rising narrative around Ripple’s regulatory progress and XRP’s legal clarity, the asset remains one of the most structurally bullish large-cap tokens in the current macro environment.

( Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.)