Ripple Labs has applied officially to receive a U.S. national banking license with the Office of the Comptroller of the Currency (OCC), creating a monumental regulatory step in the cryptocurrency sector.

In X, CEO Brad Garlinghouse confirmed the news, calling the move a significant moment in Ripple compliance-first strategy.

In a report by the Wall Street Journal, Garlinghouse is quoted as saying getting the license would set a new (and unique!) standard of trust within the stablecoin arena.

Ripple Applies for U.S. Bank License, Eyes Stablecoin Trust

Ripple Joins Circle in Seeking OCC Oversight

The New York Department of Financial Services already regulates Ripple over its RLUSD stablecoin and is now the second stablecoin provider, following the Circle issuer of the USDC stablecoin, in pursuing federal regulation under the new GENIUS Act.

The law directs large-scale issuers of stablecoins to be under the regulation of OCC, as a point to the increased rigor of regulation within the U.S. digital asset environment.

Ripple Applies for U.S. Bank License, Eyes Stablecoin Trust

Through Standard Custody, a firm that Ripple bought earlier this year, it has also applied to have a Master Account with the U.S. Federal Reserve. Upon approval, the account would enable Ripple to maintain RLUSD reserves directly at the Fed, a decision that would make RLUSD one of the safest stablecoins in the market.

XRP Holds Gains, Faces Trendline Resistance

In the meantime, XRP is currently trading at $2.28, having risen by 2.22 percent on the day, with a trading volume that has grown by a total of 38.33 percent to approximately 4 billion.

Although bullish in nature, XRP is currently resisting at a falling yellow trendline combined with the Fibonacci 0.618 retracement level at 2.6091. Relative Strength Index (RSI) is 57.16, which is lower than an overbought reading of 70, indicating there is still some upside to go. A rally may well be triggered by a thrust past 60.

Ripple Applies for U.S. Bank License, Eyes Stablecoin Trust

The MACD has a slight bullish cross over and the MACD line has emerged above the signal line, which indicates a possible early phase uptrend. As XRP is in the process of confirming a long-term downtrend resistance, a convincing break above this $2.35-2.60 price area would signal an up-shift.

Maintaining around or above $2.60-2.70, Fibonacci extension levels indicate the potential to trade toward $3.03 (2.618), $3.46 (3.618) and $3.73 (4.236) and provide a key reference that the bullish trend could continue.