- Ripple’s bank charter could catapult XRP’s price to new heights.
- Will Ripple’s national trust bank unlock XRP’s true potential?
- XRP’s ETF approval delay fuels growing frustration among crypto investors.
Ripple Labs has taken a significant step by submitting an application for a national trust bank charter with the U.S. National Trust Bank, marking a pivotal moment in its expansion into the financial sector. This application, filed with the Office of the Comptroller of the Currency (OCC), could have a major impact on Ripple and its native token, XRP.
If approved, Ripple National Trust Bank would be able to offer a range of banking services, including trust and fiduciary services, and possibly integrate XRP further into traditional financial systems. As Steph Is Crypto noted on X, the application is now public, and the review phase has begun, raising hopes that XRP could reach $10 if the charter is granted.
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How Ripple’s Bank Charter Could Push XRP to $10
Ripple seeks to operate as a de novo national trust bank, which would enable it to offer services like Fedwire and FedNow, making XRP more integrated into established banking operations.
The review process is expected to last between 30 and 90 days, with stakeholders able to provide feedback. Ripple’s partial victory in the SEC lawsuit has already helped reduce some regulatory uncertainty, improving the chances of approval.
If Ripple’s charter application is approved, it could significantly boost XRP’s market value. Analysts predict that XRP’s price could rise to $7-$10, with more optimistic projections suggesting it could reach $30-$50, particularly if Ripple gains access to a Federal Reserve master account. Steph Is Crypto also highlighted that XRP could hit $10 in a short time if the charter is approved.
Currently trading at $2.38, XRP’s market capitalization stands at approximately $143 billion, based on a circulating supply of 56 billion tokens. A price of $10 per token would increase its market cap to over $500 billion, positioning XRP as a major player in the global financial market.
Ripple’s collaborations with banks like DBS and Franklin Templeton are expected to further increase demand for XRP.
The XRP ETF Approval Delay
While Ripple moves forward with its charter application, the approval of an XRP exchange-traded fund (ETF) has been delayed due to the U.S. government shutdown. According to Vincent Van Code, the SEC’s review of ETF applications, including XRP, has come to a halt.
With only essential personnel working, ETF approvals have been frozen until government funding is restored.
Also Read: XRP Rich List Updated: How Much You Now Need to be ‘XRP Rich’
