XRP Crypto on Course to Break $3 as Ripple Applies for a National Banking License

XRP crypto bulls are targeting $3. Ripple, the issuer of RLUSD stablecoin, has submitted an application to the OCC for a national banking license.

Yesterday, XRP crypto surged, closing above $2.20 and extending gains initiated on June 23. At this pace, XRP ▲4.42% not only solidified its position as one of the best cryptos to buy, adding a solid 5% in the last day, but also erased losses from the past week, returning to positive territory.

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XRP Crypto Bulls Targeting $3

Based on the XRPUSDT price formation on the daily chart, there is a high probability that the coin will break above its June 2025 highs of around $2.5.

If this happens, XRP could race toward $3 in a bullish trend that might set the stage for the coin to flip Ethereum.

XRP

Price

Market Cap

XRP

$134.81B

24h7d30d1yAll time

While technical candlestick formations may influence momentum and provide direction, fundamental developments play a key role in determining the pace of this expansion and whether bulls will breach $3, outperforming some of the best Solana meme coins.

$XRP jumped 3.6% after reports that Ripple has applied for a national banking license from the OCC, signaling a push for federally regulated crypto services.

Follows Circle’s lead amid growing legislative clarity for stablecoins.

Institutions are trusting and adopting! pic.twitter.com/kZyaUdnam4

— Tom Tucker (@WhatzTheTicker) July 2, 2025

Ripple Applies for a National Banking License

After Circle rejected the $5 billion offer ahead of its highly anticipated IPO on the NYSE, Ripple, the private company offering multiple payment solutions, submitted an application on July 2 to the United States Comptroller of the Currency (OCC) for a national banking license.

The move was unexpected. Ripple aims to disrupt traditional banks by providing payment processors and other firms with a rail to transfer value cheaply, instantly, and globally via the blockchain, specifically the XRP Ledger.

Ripple is also aggressively pursuing a parallel application for a Federal Reserve master account through its subsidiary, Standard Custody and Trust Company.

These applications position Ripple as a frontrunner in bridging the divide between crypto and traditional finance (TradFi).

If the OCC approves the application and issues a license, Ripple could operate as a federally regulated bank in the United States. This would allow Ripple to issue its RLUSD stablecoin for institutions under the OCC’s supervision while complying with regulations set by the strict New York Department of Financial Services (NYDFS).

Brad Garlinghouse, the CEO of Ripple, said any approval would establish a “new and unique benchmark of trust in the stablecoin market.” The United States-based payment platform could also hold RLUSD reserves directly with the Federal Reserve, providing what the CEO calls “an additional layer of security to future-proof trust.”

True to our long-standing compliance roots, @Ripple is applying for a national bank charter from the OCC. If approved, we would have both state (via NYDFS) and federal oversight, a new (and unique!) benchmark for trust in the stablecoin market.

Earlier in the week via… https://t.co/IdiR7x3eWZ

— Brad Garlinghouse (@bgarlinghouse) July 2, 2025

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Crypto Firms Rushing for Banking Licenses

Ripple’s move is part of a broader trend among crypto firms to secure banking licenses as Congress and the Senate push for clearer industry regulations in a market valued at over $3.4 trillion. This shift is unexpected, given crypto’s anti-establishment roots.

Ripple now joins Circle, which applied for a national trust bank charter with the OCC in late June. If approved as a national bank complying with Federal Reserve laws, Circle could act as a reserve custodian and directly offer institutional crypto asset custody.

In 2021, Paxos received preliminary approval to operate as a federal bank but continues to navigate the regulatory process to expand its custodial and payment services. Anchorage Digital remains the only crypto firm to secure a national banking license, acquired in 2021.

The rush for banking licenses is driven by the need for stability. Following the collapse of Silvergate and Signature Bank, crypto firms reliant on USD infrastructure faced significant challenges. At one point, USDC depegged because Circle couldn’t access cash over a weekend.

If leading stablecoin issuers gain direct access to financial infrastructure, their operations would be more robust, avoiding challenges faced in March 2023. This also aligns with Donald Trump’s push to make the United States a hub for crypto operations.

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