OCC grants Ripple approval for National Trust Bank

• The path to a federally supervised national trust bank opened for Ripple on Monday, when it received final OCC approval.
• The credibility and adoption of Ripple’s stablecoin could benefit if Ripple National Trust Bank serves as a trustee for RLUSD holders.
• An initially subdued market response leaves XRP trading near $1.30 on Tuesday, with gains remaining limited.

Ripple’s efforts to build digital asset infrastructure within a regulated financial system advanced with final approval for its federally supervised national bank. In a post on X on Monday, Ripple CEO Brad Garlinghouse said the Office of the Comptroller of the Currency (OCC) had approved the charter for Ripple National Trust Bank (RNTB).

With this approval, RNTB can manage reserves for Ripple USD (RLUSD), 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 underpinning RLUSD, which is issued by its Standard Custody & Trust Company (SCTC).

Overall, RNTB’s establishment could enhance RLUSD’s capabilities within existing payments, trading and treasury infrastructure. XRP’s upside, however, remains constrained despite this latest RNTB development.

Technical outlook: Can XRP withstand persistent bearish pressure?

The $1.2941 support established by the June 15 high remains under sustained pressure as XRP trades slightly lower near $1.30 on Tuesday at the time of writing. An upside-constrained structure is reinforced by the price remaining below both the 50-day Exponential Moving Average (EMA) at $1.3602 and the 200-day EMA at $1.3894.

A Moving Average Convergence Divergence (MACD) line just below zero points to modest downward momentum rather than aggressive selling, although momentum remains weak overall. Buying interest also appears subdued: the Relative Strength Index (RSI) stands at 40, below the mid-50s zone.

Should a break below $1.2941 be confirmed, the decline could stretch towards horizontal support at $1.1866, established by the June 8 high.

On the upside, the first resistance lies at the 50-day EMA around $1.3602. 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.)