TLDR

• XRP trades at $3.01 with a $180 billion market cap, holding the third-largest cryptocurrency position by total value
• Technical analysis shows a symmetrical triangle pattern forming since July, with a breakout above $3.12 targeting $3.38 to $3.95
• Ripple’s application for an OCC banking license could grant federal banking credentials, allowing deposits and custody services
• Open interest rose 4% to $8.9 billion while the RSI at 54 indicates potential for further price gains
• Key support levels sit at $2.93 and $2.74, with resistance at $3.13 requiring a break for continued upside momentum

XRP is currently trading at $3.01, reflecting a 2.07% increase over the past 24 hours. The digital asset maintains a market capitalization of approximately $180 billion, securing its position as the third-largest cryptocurrency.

The token has been consolidating within a symmetrical triangle pattern since July. This formation displays converging price highs and rising lows, indicating equilibrium between buyers and sellers.

The recent close above the $3.00 level suggests increasing bullish pressure. Market participants are monitoring for a confirmed breakout signal.

Technical indicators show the 50-day simple moving average at $2.93 serving as immediate support. The 100-day moving average provides additional backing at $2.63.

A sustained daily close above $3.12 would validate the breakout. Price targets include $3.38, $3.67, and ultimately $3.95.

The relative strength index currently reads 54. This leaves substantial room for upward movement before entering overbought conditions.

Ripple Seeks Federal Banking Authorization

Ripple has submitted an application to the U.S. Office of the Comptroller of the Currency for banking authorization. Approval would position Ripple alongside Kraken and Circle as crypto companies with federal banking status.

The authorization would enable Ripple to accept deposits, process settlements, and provide custody services. The company plans to use XRP for on-chain liquidity functions.

Community discussions indicate the review process could require five to six months. Market observers expect a decision around the Christmas period.

Open interest in XRP futures climbed 4% within 24 hours to reach $8.9 billion. Spot trading volumes decreased 10.4% to approximately $5.9 million during the weekend.

Technical Analysis and Price Levels

The current price sits near $2.99, trading above the 20-day Bollinger Band midpoint at $2.93. The Parabolic SAR indicator shows baseline support at $2.74.

Volume Delta has turned positive at +2.7 million after a week of negative readings. This shift confirms renewed buying pressure.

The upper Bollinger Band is positioned near $3.13, representing the next resistance zone. A decisive close above $3.15 could trigger a breakout from the current two-week consolidation range.

XRP printed a bullish engulfing candlestick pattern near $2.93 earlier in the week. This formation typically indicates strong buying interest.

Traders are considering long positions on confirmed closes above $3.12. Stop-loss orders are recommended below $2.92 to manage risk.

A failure to maintain the $2.93 support could result in a pullback toward $2.74. The tightening price structure combined with rising volume suggests a major directional move is imminent.

XRP underperformed compared to Bitcoin and Ethereum on Sunday, which gained over 3% as Bitcoin reached new all-time highs. This lag could indicate delayed upside potential as capital rotates into major altcoins.