Ripple applies for US banking licence, deepening regulatory alignment.
CEO Garlinghouse is involved in shaping the Senate CLARITY Act on crypto.
Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

XRP is gaining momentum, holding firm around $2.33 after rising nearly 3% over the past 24 hours.

 

Source: CoinMarketCap

The renewed optimism comes amid broader crypto market recovery, but XRP appears to be outperforming as regulatory clarity aligns with growing institutional interest.

Ripple’s move to apply for a US banking licence and CEO Brad Garlinghouse’s growing role in shaping national crypto policy have also contributed to market sentiment.

Garlinghouse is reportedly involved in discussions around the Senate’s CLARITY Act, a proposed bill that aims to establish a regulatory framework for digital assets in the United States.

XRP technicals show an upward bias toward $2.40

XRP/USD is currently trading inside an ascending channel, with both the 50 and 200 exponential moving averages (EMAs) showing bullish alignment.

The 50 EMA is near $2.29, while the 200 EMA sits around $2.25.

The crossover between these two averages suggests a shift in market structure from neutral to bullish.

The price is making higher highs and higher lows, with candles consolidating along the midline of the channel.

The next significant resistance level is $2.3531.

A confirmed close above that mark could open the door to $2.38 and eventually $2.40, a psychological barrier.

Relative Strength Index (RSI) is approaching overbought levels, currently near 68, indicating some consolidation may occur before further upside.

XRP trade setup hinges on breakout confirmation or support retest

Traders are closely watching for a breakout above $2.3531 to confirm bullish continuation.

A clean break and close above this resistance would signal potential for a push to $2.38 and possibly $2.40.

The price structure remains supportive of this scenario, with gradually increasing volume and technical indicators showing positive momentum.

Alternatively, if XRP fails to break above $2.35 and prints a bearish reversal signal, such as a shooting star or long upper wick, traders may look for re-entry around $2.30.

This level is aligned with the 50 EMA and the lower boundary of the current channel, providing a potential support zone.

In either case, XRP’s technical setup offers clearly defined entry and exit levels for traders responding to short-term price action.

Outlook turns bullish as regulatory hurdles ease

XRP’s recent strength comes as the broader crypto market rebounds from macroeconomic pressures earlier this year.

While other assets are still regaining footing, XRP’s position has been bolstered by decisive legal victories, active policy involvement, and an improving technical structure.

Ripple’s alignment with US regulatory frameworks and ongoing efforts to engage with lawmakers place it at the centre of evolving crypto legislation.

As Ripple continues to push for institutional adoption, the combination of legal clarity, policy engagement, and technical momentum could support further growth for XRP in the weeks ahead.

The post XRP price forecast as coins surges 2.19% to $2.33 appeared first on CoinJournal.

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Filed under: Bitcoin - @ July 9, 2025 11:15 am