Ripple has secured final approval from the Office of the Comptroller of the Currency (OCC) to establish Ripple National Trust Bank, a federally supervised institution designed to support the company's stablecoin RLUSD and offer digital asset custody services to enterprise clients.
The approval, granted on October 26, 2026, comes as XRP gained 0.62% to trade at $1.29 over a 24-hour period. Ripple CEO Brad Garlinghouse described the milestone as an opportunity for crypto companies and banks to operate together under clear regulatory standards ahead of the upcoming Ripple Swell conference.
Regulatory Development and Institutional Focus
The trust bank will operate under federal oversight and manage reserves for RLUSD, Ripple's stablecoin offering. The regulatory approval provides a framework for Ripple to serve institutional clients seeking custody and stablecoin services within the regulated financial system.
However, the banking approval does not guarantee immediate demand for XRP itself, as RLUSD and XRP serve distinct purposes within Ripple's ecosystem. Greater adoption of Ripple's stablecoin or custody services would not automatically increase XRP purchases.
Whale Concentration Reaches Highest Levels Since 2022
According to data from Santiment, wallets holding at least 10 million XRP collectively control 46.87 billion tokens, representing approximately 68.5% of XRP's total supply. This represents the highest concentration held by this wallet group since November 2022.
The high concentration reflects sustained or increased exposure among large holders despite XRP trading near current levels. Wallet concentration alone does not confirm whether these holdings represent fresh buying activity, long-term positioning, or assets held on behalf of other investors.
Price Levels and Market Watch
Traders are monitoring key technical levels for XRP. Support at $1.25 is considered important, with $1.30 identified as a pivot point for potential recovery. A sustained move above $1.50 would provide stronger confirmation of an upward trend, while a break below $1.25 could open downside targets near $1.05.
Market observers are watching whether XRP can hold support while whale accumulation continues, though conference-related sentiment and price confirmation remain essential factors for sustained movement.
