Ripple's XRP shows a 3.75% increase following the submission of its application for a national banking license in the United States. This event has attracted trader interest and increased trading volume.
Impact of the Banking License Application
XRP Ripple reached $2.27, rising by 3.75%. This occurred after Ripple submitted its application for a national banking license in the US. This move is expected to facilitate broader adoption of the stablecoin RLUSD.
Technical Indicators and Forecasts for XRP
Chart analysis shows that XRP has formed a falling wedge, typically a bullish signal. Recent price movements suggest a possible breakout. Technical indicators also support an upward trend in the market.
Increase in Futures Traders' Positions
XRP futures open interest has increased by 8% over the last 24 hours, reaching $4.62 billion. While the long/short ratio remains stable, there is optimism among traders regarding the future growth of XRP.
With the banking license application and positive technical signals, XRP shows strong growth potential and leaves hopes for further strengthening its market position.
