XRP Gains 3.14% as Ripple Wins Trust Bank Approval

Ripple's Swell conference featured announcements including a partnership with Robinhood, expanded ties with BNY Mellon, and a new corporate treasury product. Treasury Secretary Scott Bessent highlighted the role of stablecoins in extending the dollar's global reach. Ripple also received a federal bank charter for managing reserves. The company is positioning itself as a provider of dollar-backed infrastructure.

Ripple and Robinhood partnered to integrate Ripple's $RLUSD stablecoin into Robinhood's retail and institutional platforms. $RLUSD is live on Robinhood Chain and Bitstamp, with app integration expected later this year. $XRP, the native asset of the XRP Ledger, traded at $1.32, up 2.2% over 24 hours, with a market cap of $83.7 billion. The deal expands stablecoin access and institutional settlement services, with Ripple Treasury and Ripple Prime also integrated.

XRP rose 1.5% after Ripple received approval to establish a national bank, potentially boosting adoption of its stablecoin, RLUSD. Ripple's CEO highlighted the charter's role in strengthening its infrastructure. The move may increase transaction volumes and demand for XRP, though regulatory hurdles remain. XRP's price could recover if it breaks above $1.31, with a bullish pattern forming on the 4-hour chart.

Ripple received final approval from the OCC to launch a national trust bank in the U.S. The bank will manage reserves for its RLUSD stablecoin, act as collateral trustee, and provide digital asset custody services. Ripple CEO Brad Garlinghouse highlighted the integration of crypto and banking. Following the news, XRP rose over 2% to $1.31.

Ripple received final approval for Ripple National Trust Bank, focusing on managing RLUSD reserves. The charter benefits RLUSD directly, with indirect potential for XRP. XRP is trading near $1.29, with large holders increasing positions. Key levels to watch are $1.30, $1.42, and $1.50.

Ripple (XRP) has partnered with Robinhood (HOOD) to expand the use of its RLUSD stablecoin. RLUSD will be used for institutional trades and listed on Robinhood's platform. Ripple Treasury will support Robinhood's cash management. RLUSD's market cap is over $2.5 billion. Robinhood shares are up 2.5% today at $95.19.