Ripple’s own RLUSD stablecoin has just witnessed a massive legal victory. Ripple Labs, the San Francisco-located parent company of XRP & RLUSD, has applied for a banking license from the Office of the Comptroller of the Currency (OCC).
Ripple Strives For Bi-Folded License
Once this is approved, Ripple’s fresh dollar-pegged RLUSD stablecoin would be operating fully under federal banking supervision. Previously, Ripple secured a state banking license from the New York Department Of Financial Services (NYDFS).
According to Ripple’s CEO Brad Garlinghouse, the ultimate aim is to obtain both state & federal licenses. On top of that, Ripple CEO boasted about a Fed Master account coming up, which would allow to hold RLUSD reserves directly with the Fed, securing federal-grade trust in RLUSD’s liquidity.
Can XRP Price Hit $100 This Cycle?
If history repeats itself, Ripple (XRP) holders are in for a treat. For instance, popular crypto analyst Amonyx highlighted the double bottom neckline in the all-time XRP chart. Falling in line with positive legal headwinds, Amonyx sees $100 as a realistic XRP price target in this bull cycle.
Right now, XRP Ledger’s native coin is trading at $2.28, far behind this target. However, the $5 to $6 billion average trading volumes suggest that Ripple coin has still a lot of room for growth. The OG altcoin hit $3.40 over 7 years ago & was really close breaching this price record this year in January.
This time, the potential launch a Ripple exchange-traded fund (ETF) product in the United States & the potential finalization of Ripple & SEC’s $125M settlement deal could be the key factors driving XRP’s price up, potentially climbing up crypto’s global charts to the 3rd spot, edging USDT.
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People Also Ask:
XRP is chilling in a consolidation phase, as traders HODL and await clarity on Ripple’s U.S. bank license bid, which could pump or dump sentiment.
It’s a long shot, but not impossible. If Ripple’s license lands and adoption spikes, XRP could moon. For now, it’s just winking at that level.
A license could legitimize XRP Ledger’s tech, boost institutional use, and drive XRP demand, potentially sending prices to the stratosphere.
Market vibes, regulatory news, and Ripple’s license grind are keeping XRP in a tight range, with bulls and bears duking it out.
DYOR! Consolidation could signal a breakout, but crypto’s wild. The license news might be a catalyst—watch the charts & stay woke.
