OCC grants Ripple approval for National Trust Bank

• Final OCC approval for Ripple to establish a federally supervised national trust bank came on Monday.
• By serving as a trustee for RLUSD holders, Ripple National Trust Bank could strengthen the stablecoin’s credibility and adoption.
• $1.30 remains XRP’s approximate trading level on Tuesday. Its restrained price action points to a muted 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 announced on Monday in a post on X. Establishing the federally supervised national bank marks progress in Ripple’s efforts to build digital asset infrastructure within a regulated financial system.

With the approval, RNTB can manage Ripple USD (RLUSD) reserves, take on the role of collateral trustee for RLUSD holders and broaden its digital asset custody services. Federal oversight through RNTB strengthens the regulatory infrastructure behind 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’s price remains constrained, however, despite the recent RNTB development.

$1.2941 support under pressure: XRP technical outlook

$1.30 is XRP’s approximate price at the time of writing on Tuesday. The token is edging lower, maintaining downward pressure on support at $1.2941, the June 15 high. Trading below the 50-day Exponential Moving Average (EMA) at $1.3602 and the 200-day EMA at $1.3894 continues to constrain the price structure.

Slightly below zero, the Moving Average Convergence Divergence (MACD) line signals weak downward momentum rather than an aggressive sell-off. Buying interest also appears subdued: the Relative Strength Index (RSI) stands at 40, below the mid-50s zone.

If a break below $1.2941 is confirmed, losses could deepen towards horizontal support at $1.1866, corresponding to the June 8 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 stronger hurdle, where sellers are likely to defend the broader bearish structure.

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