Ripple has just made its boldest move to date: Could this push the price of XRP to $4?

XRP is starting to show strong signs of bouncing back as Ripple makes bold moves towards becoming a national bank. The company has officially applied for a banking license with the OCC, and this is drawing attention across the market. If approved, this could bring federal oversight to Ripple's services, including the stablecoin RLUSD. This news is causing a stir as the price of XRP trades around $3.22, up nearly 2% on the day. Veteran trader Matthew Dixon shared on X that this license could grant Ripple's subsidiary, Standard Custody & Trust, direct access to the Federal Reserve's master account. This means interacting in real-time with the Fed's payment system and the ability to issue and redeem RLUSD 24/7. Of course, traders are drawing attention, as this development could open new doors for Ripple, and may push the price of XRP even higher. XRP Bounce Back After Sharp Decline XRP of Ripple has bounced back after a sharp decline that caused this token to drop to 3.05 dollars. The price has since steadily increased, forming a V-shaped pattern on the 1-hour chart and reclaiming some Fibonacci retracement levels. The current trading is just below the resistance zone of $3.24–$3.28, corresponding to the 0.5 Fibonacci retracement level measured from the high of $3.71 to the low of $2.97. The support level remains strong at $3.15 and further down in the range of $3.00–$3.05, which previously marked a strong bounce back level. A move above $3.28 will lead to $3.42 and, who knows, may test the recent high around $3.70.

In addition, the Relative Strength Index (RSI) for 14 periods is at 56.42 and is rising. This is building momentum as the RSI surges above the average but remains below the overbought level. There are no signs of bearish divergence, which supports the likelihood of trend continuation. Traders are currently focused on whether the volume can support a breakout through the key resistance level. The upward trend line drawn from the recent low is tracking a strong price acceleration, which may indicate increasing confidence among buyers. Ripple's Registration File Draws Attention of the Industry Ripple's move to apply for a national trust bank license has added regulatory content to the XRP price chart. The company's mission is to comply with federal regulations and provide stablecoin services with direct access to the Fed's rails, which has drawn attention on social media. If successful, this move could help Ripple become a larger player in the financial system. Investors in the market are closely monitoring the price and official announcements for additional signals as the price of XRP continues to test resistance levels, with the overall outcome possibly depending on the progress of Ripple's OCC application in the coming weeks.