XRP Rebound Faces Historic Trendline Hurdle; Will Price Breakout?

Key Points

1. XRP's price increased by 4% on July 3, reaching $2.26, amid Ripple's filing for a U.S. banking license with the OCC.

2. Ripple's subsidiary, Standard Custody & Trust, also applied for a Fed Master account, which could enhance RLUSD stablecoin operations and indirectly benefit XRP.

3. XRP's price faces a multi-month resistance trendline; a breakout could signal further gains, while a drop below the 200-day EMA at $2.1 may lead to a 15% decline to $1.78.

4. The approval of Ripple's banking license could strengthen XRP's utility narrative and potentially push its price past $3.