Analyst Eyes Breakout As Ripple’s Banking License Application Goes Public- Targets $7 Next

XRP price has been sitting close to the make-or-break level of $3. It trades at $3.07 today, August 7, with a 4.75% increase in 24 hours. This surge comes after Ripple’s application for a banking license was made public, and a fresh $200M acquisition deal happened. Meanwhile, an analyst says that the price can get to as high as $7.

Analyst Predicts XRP Price Rally to $7

Analyst Crypto King says that for the most part of this year, XRP has been performing the same way it did last year. More specifically, he takes note of a downtrend that was printed between June and November. This line appeared again between January and June 2025.

He points out that July’s rally might just be the beginning. The price managed to break out of a long-running downtrend that month. In a recent X post, he says that this setup looks a lot like what played out in 2024, and that could be a sign of what’s coming next.

Crypto King is of the belief that the real bull run has not even started yet. That means the recent surge might just be the first leg of a much bigger move. On his chart, he outlines a potential 156% rally that could drive XRP all the way to $7. However, the only way that this forecast stands is if XRP can remain above $2.95.

Getting to $7 is not unexpected for the Ripple price. That is because there are many developments going on with Ripple. CoinGape has reported that Ripple has acquired Rail in a $200 million deal. This is a way of increasing utility for XRP and the RLUSD stablecoin.

Besides, CoinGape reported that XRP may reach $4 after SBI Holdings filed for a spot XRP ETF. This filing was also crucial in confirming that the institutions are not giving up. Even if the price is dropping, the interest is not fading, and this is good for how the price will perform in the future.

Ripple’s Banking License Goes Public

Ripple filed for a banking license last month. Earlier this week, the application was published. However, the XRP price did not react to it. This is because in the entire application, there was no mention of XRP. This is likely so because there is not much progress in the Ripple vs. SEC case.

However, not everything has been smooth in this banking license application. Last month, CoinGape reported that some US banks voiced their resistance to the application. They said there were some risks involved, and there was a lot of opacity with the submission.

In summary, the XRP price might be having a rough time now holding on to $3, but bullish signs are lining up. What this means is that the price might surge higher and possibly get to $7, as analysts predict. Ripple’s pursuit of banking licenses and new acquisitions might be what it needs to get to this price.

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muthoni

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.

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