The ongoing Q4 has brought significant profits to the crypto market. The overall market cap of the crypto space now stands at $2.405 trillion with 13% gains. However, with rising Bitcoin’s dominance beyond 45%, most other altcoins experienced a slight pullback.
On the other hand, despite the SEC’s investigation underway, XRP price has risen by about 4.37% over the last 7 days. Moreover, Ripplenet is planning to facilitate enhanced cross-border payment solutions to users, and the ecosystem is also planning to include NFTs on the XRP ledger in order to encourage them.
Interestingly, Ripple announced a collaboration with Nelnet Renewable Energy, a reputed solar company on October 12th, 2021. To further help the world to go eco-friendly they are jointly investing $44 million.
XRP Price Analysis: Will the Altcoin Reach $2 Soon?
Ripple price has broken cup and handle pattern in one day chart. The start of the day was not so good for altcoin as sell pressure was massive with large red candles. The price almost dipped below the major support level of $0.85.
However, as the asset found its strong support around $0.6, a significant number of green candles started to soar with a surge in buy rate and hence completing the cup pattern. Later the XRP price continued to form the handle pattern, finding support between $1.25 to $1.30. The altcoin has the strong potential to surpass major resistance between $1.5 to $1.65 if it follows the pattern. Which could further take the price to $2! On the contrary, the asset could settle down between support levels of $0.88 to $0.99.
Collectively, Ripple price is poised to breakout at a crucial resistance. As the altcoin is preparing itself for new ventures, price action could be extremely bullish provided SEC’s lawsuit could soon take a turn in favor of XRP. And if traders fall for any speculations or FUDs then the asset could see a huge pullback.
Moreover, a popular crypto analyst Moon Lambo, believes Ripple might follow Bitcoin’s trend. Referring to Bitcoin’s 3x increase from 2017, analysts predicted that if the SECs lawsuit turns in favor of XRP, then it has the strong potential to go up by 3x in the coming days. If that happens the asset’s price will be around $10 and the total market cap will go beyond $460 billion. Which will be more than Ethereum’s market cap than it is now.
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