OCC grants Ripple approval for National Trust Bank

• Final OCC approval for Ripple to establish a federally supervised national trust bank was granted on Monday.
• By serving as a potential trustee for RLUSD holders, Ripple National Trust Bank could strengthen confidence in the stablecoin and encourage its adoption.
• At around $1.30 on Tuesday, XRP remains constrained, suggesting a subdued initial market response.

Final approval to charter Ripple National Trust Bank (RNTB) has been granted by the Office of the Comptroller of the Currency (OCC), Ripple CEO Brad Garlinghouse said in a post on X on Monday. The federally supervised national bank marks a step forward in Ripple's efforts to develop digital asset infrastructure within a regulated financial system.

With this approval, RNTB can oversee Ripple USD (RLUSD) reserves, positioning the bank as a collateral trustee for RLUSD holders while broadening its digital asset custody services. Through RNTB, federal supervision extends to the regulatory infrastructure underpinning RLUSD, which is issued by Ripple's Standard Custody & Trust Company (SCTC).

Establishing RNTB could therefore enhance RLUSD’s capabilities within existing payments, trading and treasury infrastructure. XRP nevertheless remains constrained despite the recent RNTB development.

Technical outlook: XRP remains under sustained bearish pressure

The $1.2941 support level, defined by the 15 June high, remains under sustained downward pressure as XRP trades slightly lower around $1.30 on Tuesday at the time of writing. Trading beneath both the 50-day Exponential Moving Average (EMA) at $1.3602 and the 200-day EMA at $1.3894 continues to limit the price.

A Moving Average Convergence Divergence (MACD) line just below zero points to modest downward momentum rather than heavy selling, with overall momentum still weak. Meanwhile, the Relative Strength Index (RSI) stands at 40, below the mid-50s region, signalling limited buying interest.

Should a break beneath $1.2941 be confirmed, the decline could continue towards horizontal support at $1.1866, corresponding to the 8 June high.

On the upside, the first resistance lies around $1.3602 at the 50-day EMA. Beyond that, the 200-day EMA near $1.3894 presents a firmer obstacle, where sellers are likely to seek to preserve the wider bearish structure.

(The technical analysis of this story was written with the help of an AI tool. Know more.)