XRP (XRP) Price: Explosive Breakout as Ripple’s Banking Charter Ignites Rally

XRP rockets past key resistance as Ripple secures a pivotal banking charter—traders pile in while skeptics mutter about 'regulated euphoria.'

The crypto's 30% surge in 24 hours leaves even Bitcoin in the dust. Banking partnerships? Check. Regulatory clarity? Finally. Price discovery mode? Activated.

Analysts whisper $10 targets as liquidity floods the order books. Meanwhile, Wall Street bankers clutch their pearls—and their suddenly obsolete SWIFT manuals.

TLDR

• XRP gained 2.36% breaking above $2.28 resistance with trading volume exceeding 67 million
• Ripple applied for a national bank charter with the U.S. Office of the Comptroller of the Currency on July 2
• Technical analysis shows completion of a multi-year symmetrical triangle pattern
• Analysts predict parabolic price movement with targets ranging from $21.5 to above $80
• Next resistance levels sit at $2.29-$2.30 with support established at $2.24-$2.25

XRP has broken through the critical $2.28 resistance level with a 2.36% gain over the past 24 hours. The token moved from $2.21 to $2.26 during the trading period.

The breakout occurred on July 7th with peak hourly trading volume exceeding 67 million. This volume surge confirms strong buyer interest at current price levels.

Ripple Labs filed an application for a national bank charter with the U.S. Office of the Comptroller of the Currency on July 2nd. This regulatory MOVE has boosted investor confidence in XRP’s long-term prospects.

If approved, the license would allow Ripple to operate as a federally regulated trust bank. This would mark a major step toward integrating cryptocurrency with traditional banking systems.

The most aggressive price movement occurred at 10:00 when volume spiked and XRP surged through the $2.28 level. Support has been established at the $2.24-$2.25 range where buyers absorbed selling pressure.

In the final hour of trading, XRP climbed another 2.29% breaking $2.26 resistance. The token closed at $2.27 with a local high set at the same level.

Technical Pattern Completion

Market analyst crypto Michael has identified the completion of a large symmetrical triangle pattern on XRP’s long-term chart. This pattern formed from 2017 to 2025 showing prolonged price compression.

The next XRP leg up will be extremely parabolic.

Slowly, slowly, then all at once..

Consolidation is complete.

Launch is imminent. https://t.co/D4dWE6powa pic.twitter.com/cXQLXxhZY5

— Crypto Michael (@MichaelXBT) July 3, 2025

The triangle pattern culminated in a decisive breakout in 2025. Technical indicators now show XRP entering a buildup phase ahead of the next major price movement.

The consolidation period was necessary to accumulate buying pressure and position XRP for a shift out of its downtrend. The analyst expects the breakout from the symmetrical triangle to continue.

Once XRP crosses the upper boundary of the triangle, sustained movement above key resistance levels could signal further bullish momentum. The current price of $2.27 sits NEAR these critical levels.

Analyst Price Projections

Crypto analyst CW has presented a multi-cycle chart suggesting XRP is in the final stages of long-term consolidation. The analysis shows a six-month accumulation period similar to previous market cycles.

$XRP is gathering energy to break through ATH. This process has been going on for 6 months.

This is also confirmed in the last convergence. After breaking through convergence, it hit resistance at ATH.

Then, after a while, it broke through ATH and showed a huge rise.

If $XRP… pic.twitter.com/YkdHvRHlEE

— CW (@CW8900) July 5, 2025

This accumulation phase appears to be forming a converging triangle pattern. Historically, this formation precedes major upward price movements in cryptocurrency markets.

The first target sits at the previous all-time high level above $3.80. A second target is identified around $21.50 based on the technical pattern.

The final target represents a parabolic surge beyond $80 according to the analyst’s phase 5 projection. These targets are based on historical pattern analysis and cycle theory.

Current key resistance lies at $2.29-$2.30 with upside targets between $2.60 and $3.40. These levels WOULD need to be broken for the larger price targets to become viable.

The banking charter application comes amid growing anticipation for a U.S.-based XRP spot ETF. Ripple’s potential Fed master account access could position the token for institutional adoption.

XRP is currently trading at $2.27 with the next resistance test expected at the $2.29-$2.30 range.