XRP Today News: Ripple Bank License Ruling Countdown, China-US Negotiations Key to Pump

XRP's news focus today is on multiple key catalysts, with traders closely following the critical moment at the end of October. The OCC's 120-day review period for Ripple's application for a US chartered bank license will end in early November. Key catalysts include US-China trade negotiations, the probability of ETF approval, and the OCC's bank license decision, with a bullish scenario potentially driving XRP to break through $3.

Ripple bank license review deadline November 1

Ripple's entry into the mainstream market could significantly drive the price of XRP. Ripple has applied for a national banking license, which may further enhance the legitimacy of XRP and promote its application. Integrating XRP into traditional banking services such as cross-border payments, remittances, and settlements will drive institutional demand for XRP as a bridge currency. The connection with traditional banking infrastructure, payment networks, and correspondent banking relationships will further strengthen Ripple's ability to access global payment channels and liquidity.

It is crucial that the U.S. government shutdown will not affect the review timeline of the Office of the Comptroller of the Currency (OCC). The OCC's funding comes from member institutions, not annual appropriations, so it will continue to operate during the government shutdown. Ripple submitted its application for a U.S. charter bank license on July 2, which means the review period will end on November 1. The public comment period ended on August 4.

Some analysts previously underestimated the impact of Ripple obtaining a banking license on the price trend of XRP. However, Ripple CEO Brad Garlinghouse recently commented that XRP is central to its entry into the mainstream market, stating: “With the completion of Hidden Road (now renamed Ripple Prime) today, Ripple has announced five major acquisitions in the past two years. As we continue to build solutions to realize the value internet, I remind everyone of the core of how the internet works.”

Although the official 120-day review period will end on November 1, some analysts believe that the OCC may need 12 to 18 months to complete its assessment. Notably, the Office of the Comptroller of the Currency (OCC) is an independent agency under the U.S. Department of the Treasury, and it can only be removed from office if President Trump submits a notice to the Senate along with a justification for dismissal. However, President Trump appointed Jonathan Gould as the head of the OCC in July 2025, indicating a more friendly attitude towards cryptocurrency companies.

Senate Stalemate and XRP ETF Approval Progress

Despite the fact that the Office of the Comptroller of the Currency (OCC) is still reviewing Ripple's bank license application, the U.S. government shutdown has further delayed the approval of the XRP spot ETF. As of Wednesday, October 29, the deadlock in the U.S. Senate has lasted for 29 days, leading to severe staffing shortages at the U.S. Securities and Exchange Commission (SEC). So far, the Senate has held 13 votes on a temporary funding bill, but none have passed. However, reports indicate that some progress has been made towards ending the government shutdown.

It is crucial that once the U.S. government reopens, the U.S. Securities and Exchange Commission (SEC) may approve the pending XRP spot ETF, which could trigger a surge in institutional demand. The potential launch of the XRP spot ETF and the OCC granting Ripple a U.S. chartered bank license both lay the foundation for XRP's strong performance by the end of the year. Given the impact of the BTC spot ETF market on BTC price trends, the inflow of funds into the spot ETF will be vital.

BlackRock's holdings in the iShares XRP Trust are also the focus of today's news about XRP. If BlackRock submits an S-1 filing for the iShares XRP Trust and receives SEC approval, it will bring institutional-level capital inflows to XRP. Conversely, if BlackRock rejects the plan to launch an XRP spot ETF, it may trigger disappointment in the market.

XRP Technical Analysis and Key Price Levels

(Source: Trading View)

On October 29, XRP fell by 2.06%, following a decrease of 1.07% the previous day, closing at 2.5522 USD. The token's trend was consistent with the overall cryptocurrency market, which dropped by 1.81%. Federal Reserve Chairman Powell downplayed the possibility of a rate cut in December, putting pressure on market sentiment. After falling for the third consecutive trading day, XRP broke below the 50-day and 200-day Exponential Moving Averages (EMA), sending a bearish signal.

Key technical levels to follow:

Support Levels: 2.5 USD, 2.35 USD, 2.2 USD, 2.0 USD and 1.9 USD

50-day moving average resistance level: 2.6779 USD

200-day moving average resistance level: 2.6109 USD

Resistance Levels: 2.62 USD, 2.8 USD, 3.0 USD and 3.66 USD

The trading range of XRP has narrowed, the triangle pattern is tightening, and volatility has decreased ahead of key events. The current trend indicates a significant change is about to occur, with the US-China trade negotiations, the Office of the Comptroller of the Currency (OCC), the Senate, and the resolutions of the US Securities and Exchange Commission (SEC) all being closely followed.

Bullish Scenario: Path to Target Price of 3 Dollars

(Source: Trading View)

Several bullish catalysts could drive the XRP price to break through the current range. The signing of a trade agreement between the United States and China will alleviate global economic uncertainty and boost demand for risk assets. The U.S. Senate's passage of a temporary funding bill will restart government operations, allowing the SEC to resume the approval process for the XRP spot ETF. BlackRock has submitted the S-1 filing for the iShares XRP Trust and received approval, which will trigger a massive influx of institutional funds.

Blue-chip companies consider their XRP holdings as treasury reserves, and the general public is also starting to adopt Ripple technology, which will provide long-term demand support for XRP. Ripple has obtained a U.S. charter banking license, and the Market Structure Bill has made progress in Congress, eliminating the greatest uncertainty from a regulatory perspective. These bullish scenarios could drive the price of XRP to break through $2.62, making $2.80 a possibility. After breaking $2.80, the bulls may aim for the psychological barrier of $3.00. If the price continues to rise above $3.00, it is expected to further challenge the historical high of $3.66.

Bearish Scenario: Risk of Falling Below 2.5 USD

(Source: Trading View)

Conversely, if the US-China trade negotiations fall into a stalemate, global economic uncertainty will suppress risk assets. BlackRock's rejection of the plan to launch an XRP spot ETF will lead to a failure in the expectation of institutional capital inflow. The stalemate in the US Senate continues into the 30th day, further delaying the launch of the XRP spot ETF. The US Senate's questioning of cryptocurrency-friendly legislation, including the Market Structure Bill, will weaken expectations for regulatory improvements.

Blue-chip companies downplay their interest in XRP as a treasury reserve asset, which will reduce enterprise-level demand. The U.S. Office of the Comptroller of the Currency (OCC) delaying or rejecting Ripple's application for a U.S. chartered bank license will be the biggest bearish factor. SWIFT maintains its market share in the global remittance sector, limiting Ripple's market access, which will weaken the long-term value logic of XRP.

These bearish events could push XRP towards the $2.5 level, thereby exposing the support at $2.35. If it falls below that support, the next key support level will be $2.2. If it continues to drop below $2.2, the psychological support at $2.0 will come into play. Although the price has rebounded from below $2.2, the descending channel indicates that the price has repeatedly touched the upper resistance level at the beginning of October, with each rebound failing at lower price levels.

US-China trade negotiations become a key variable in the short term

The recent trend of XRP will depend on the outcome of the meeting between U.S. President Trump and Chinese President Xi Jinping, as well as progress in the U.S. Senate. The token is currently in a negative value range in October. However, the achievement of a China-U.S. trade agreement and the launch of the XRP spot ETF could trigger a rebound, driving the token's price to new highs. Progress in China-U.S. trade negotiations will directly affect global risk asset sentiment, and XRP, as a high beta asset, will be highly sensitive to this.