Ripple 
$2, along with four other companies, has attained the eagerly awaited approval for their cryptocurrency operations. Among these companies is the trillion-dollar asset manager, Fidelity, marking a significant day for the industry. While this article was being prepared, Trump’s crypto policy advisor, Sacks, was making statements. Let’s delve into why today is a historic day for Ripple and its counterparts.
Historic Day for Ripple
Recently, the Office of the Comptroller of the Currency (OCC) officially announced that Circle, Ripple, Paxos, Fidelity, and BitGo have been granted banking licenses. The swift approval was unexpected; however, under President Trump’s administration, the process expedited. His crypto-friendly policies have paved the way for government bodies to embrace cryptocurrency, unlike in the Biden era.
Today marks a pivotal moment for Ripple as the innovation once stifled by the SEC has now secured a banking license from the OCC. The federal oversight of Ripple National Trust Bank (RNTB) will enable the company to expand its cryptocurrency-based services on a larger scale. Under the supervision of the New York Financial Services Department (NYDFS) and the OCC, RNTB will act as a national trust bank managing RLUSD reserves and facilitating legal operational growth.
Ripple CEO Brad Garlinghouse commented on the major news: “The conditional approval of our charter sets the highest standard for stablecoin compliance under federal and state regulation. Despite opposition from bank lobbyists against innovation, we ensure that RLUSD stands as the most transparent and responsibly managed stablecoin in the market today.”
The company has had a remarkably productive year, launching new ventures such as Ripple Prime. Although the news may not have delivered immediate positive outcomes for XRP Coin, Ripple is in a significantly advantageous position compared to last year, ready to expand its corporate clientele.
XRP Coin Projections
Ripple has invested approximately $1.5 billion in three companies this year, expanding its operations post-litigation and attaining the banking license. Trump has explicitly or implicitly stated that facilitating the operations of U.S.-based crypto companies will foster rapid growth, making pessimism seem unfounded. The current price of XRP Coin, hovering near $2, is promising compared to many altcoins that have faced destruction.
Investors who bought last year remain profitable, indicating a positive trajectory. Despite a recovery in market sentiment, resistance levels at $2.21 and $2.55 suggest an ongoing negative market scenario at least through January and February. Factors like the MSCI delisting decisions and the potential halt of Fed’s rate cuts contribute to this outlook. The Supreme Court’s potential tariff annulment adds another layer of unpredictability to the first quarter.
Despite short-term fluctuations, achieving convincing closures above $2.85 without aiming for the $2.66 ATH zone remains challenging. A plausible scenario for XRP Coin includes extreme sell-offs with lower wicks between $1.62 and $1.22, alongside resistance tests.
