Ripple’s XRP has been on a rollercoaster ride over the past couple of years. With increased scrutiny from regulators and backlash from the cryptocurrency market, the altcoin has seen it all. But XRP seems to be turning over a new chapter. Last week in particular has been abundant for the altcoin market. After breaching the $1 zone, the asset could be prepping to $2. But will it reach this level on time?
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Looking Into XRP’s Trajectory
Throughout the past week, XRP has surged by over 25%. The asset went from trading at a low of $1.09 to a high of $1.62. This further restored hope in the market. But the asset encountered a massive correction as it dipped 10% on Sunday. At press time, the altcoin was finding its path to recovery as it surged by 1% over the past 24 hours. In addition, it was trading at $1.47.
It should be noted that over the weekend, Ripple Chief Legal Officer Stuart Alderoty declared a significant victory against SEC Chairman Gary Gensler. Alderoty hailed Ripple’s success as a roadmap for overcoming Gary Gensler’s onslaught against crypto. He said,
“We kept the door open long enough for the industry to survive and seize this incredible moment. The faith and support of the XRP Army provided much-needed hope in the darkest days. Thank you.”
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Thanksgiving Prediction
Ripple’s XRP will undergo a slight setback over the coming few days. According to data from CoinCodex, the altcoin will trade around $1.22 on Thanksgiving. Prior to this, the asset will be priced at $1.40 and $1.21 on November 26 and 27, respectively.
It seems like XRP investors will have to wait longer before they the asset reach $2. In order to surge to this level, the altcoin will have to surge by over 35% from its current price mark.
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