Key Moments
- Ripple obtained final approval from the Office of the Comptroller of the Currency to charter Ripple National Trust Bank as a federally supervised national trust bank.
- The new Ripple National Trust Bank is expected to serve as collateral trustee for Ripple USD (RLUSD) reserves, strengthening regulatory oversight of the stablecoin’s infrastructure.
- XRP trades around $1.30 on Tuesday, with price action constrained below key moving averages despite the regulatory milestone.
Ripple National Trust Bank Gains Final OCC Approval
Brad Garlinghouse, CEO of Ripple, stated in an X post on Monday that the Office of the Comptroller of the Currency (OCC) has granted final approval for the chartering of Ripple National Trust Bank (RNTB). The authorization allows Ripple to operate a federally supervised national trust bank, underscoring the company’s efforts to build digital asset infrastructure within a regulated financial framework.
According to the announcement, the newly approved RNTB will be able to administer and safeguard the reserves backing Ripple USD (RLUSD). By acting as a collateral trustee for RLUSD holders, the entity is positioned to bolster confidence in Ripple’s stablecoin and potentially enhance its attractiveness to institutional and retail users.
RNTB is set to expand digital asset custody offerings while operating under federal oversight. This move brings an additional supervisory layer to the regulatory setup that underpins RLUSD, which is issued by Ripple’s Standard Custody & Trust Company (SCTC).
Implications for RLUSD and Digital Asset Infrastructure
The creation of RNTB is described as a step toward reinforcing RLUSD’s role across existing payments, trading, and treasury infrastructure. With RNTB managing RLUSD reserves and serving as a trustee, Ripple aims to integrate its stablecoin more deeply into regulated financial channels.
Despite the regulatory milestone, the XRP token has not shown an immediate strong reaction and continues to trade with a restrained tone.
XRP Market Performance: Muted Reaction to Regulatory Milestone
On Tuesday, XRP trades slightly lower around $1.30, reflecting a subdued reaction to the RNTB approval. The token remains under persistent downward pressure near the $1.2941 support level, which aligns with the June 15 high.
Price action continues to be capped, with XRP holding below both the 50-day Exponential Moving Average (EMA) at $1.3602 and the 200-day EMA at $1.3894. This positioning reinforces the prevailing bearish structure, as buyers have yet to regain control of these key technical levels.
| Level / Indicator | Value | Context |
|---|---|---|
| Spot price (Tuesday) | $1.30 | Trades with a capped tone |
| Immediate support | $1.2941 | June 15 high acting as support |
| Next downside target | $1.1866 | Horizontal support at June 8 high |
| 50-day EMA | $1.3602 | First resistance on the upside |
| 200-day EMA | $1.3894 | Stronger resistance reinforcing bearish bias |
| MACD line | Marginally below zero | Indicates weak downside momentum |
| RSI | 40 | Signals subdued buying interest |
Technical Outlook: Bearish Structure Remains Intact
From a technical perspective, XRP continues to face persistent bearish pressure. The price hovers near $1.30 on Tuesday and leans on support at $1.2941. A decisive move below this level would open the door to further weakness toward the $1.1866 horizontal support, identified by the June 8 high.
Momentum indicators suggest that, while the bias remains to the downside, selling pressure is not yet aggressive. The Moving Average Convergence Divergence (MACD) line sits just below zero, pointing to mild bearish momentum rather than a sharp downturn. The Relative Strength Index (RSI), at 40, remains below the mid-50s area, highlighting limited demand on the buy side.
On the upside, the first technical hurdle is the 50-day EMA around $1.3602. Above that, the 200-day EMA near $1.3894 forms a more significant resistance band, where sellers are expected to defend the broader bearish configuration.
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