As of Tuesday XRP is trading near $2.25, down slightly from its recent $2.33 high. After a volatile start to Q3, the cryptocurrency is consolidating near critical support while traders brace for a potential breakout—or breakdown.
The token’s movement comes as Ripple seeks a national banking license and navigates shifting sentiment in crypto markets.
XRP shows price compression ahead of next move
Technical charts reveal tightening price action. XRP is riding along the lower Bollinger Band, typically a sign that volatility is compressing. Historically, this setup often leads to a decisive move in either direction.
Key resistance sits at $2.35–$2.40, while $2.25 remains the line in the sand for bulls.
- Current price: $2.25
- Recent high: $2.33
- Support to watch: $2.20, then $2.15 if breakdown continues
- Resistance to clear: $2.35, $2.40
Death cross, MACD hint at bearish short-term bias
XRP’s short-term technicals aren’t encouraging. A “death cross” recently formed, where the 20-day moving average fell below the 200-day line—a historically bearish indicator. Meanwhile, the MACD has also turned negative, crossing under its signal line.
Adding to concerns, a head-and-shoulders pattern is forming on the daily chart. If $2.23 fails, traders expect a test of $2.20 or lower. Volume has declined since last week’s rally, suggesting reduced buying pressure.
Despite pullback, bulls hold long-term trend
While short-term signals lean bearish, longer-term indicators still favor XRP bulls. The token has continued to post higher lows since bottoming at $1.90, and its 10- and 100-day EMAs are flashing bullish signals.
However, XRP must reclaim $2.36—the current 200-day simple moving average—to restart upward momentum.
Ripple seeks U.S. bank license
Beyond charts, Ripple is making waves with a July 2 filing to the Office of the Comptroller of the Currency. The company is applying for a federal trust bank charter that would allow it to operate as a regulated financial institution.
If approved, the move could pave the way for:
- Fed master account access
- Expanded cross-border payment services
- Future XRP spot ETF approval
Analysts at 99Bitcoins suggest this could position XRP as a key bridge between traditional finance and decentralized infrastructure.
What to watch next for XRP
The next few days will be pivotal. If XRP holds above $2.25 and buyers return with volume, a move back toward $2.35–$2.40 is possible. But if support breaks, the selloff could deepen toward $2.20 or even $2.15.
Traders are watching:
- U.S. crypto regulation updates
- Ripple’s banking license status
- Broader altcoin momentum
Key takeaways
- XRP price today sits near $2.25 after pulling back from a $2.33 high
- A death cross and MACD flip signal short-term downside risk
- Ripple’s bank license bid could reshape XRP’s long-term value
- Watch $2.25 support and $2.35 resistance for the next move
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