In recent trends, crucial support levels are being breached across altcoins, with moving averages signaling potential declines. Specifically, XRP Coin might face a risk of dropping to $1.03 if it fails to maintain levels around $2.54. Such developments have led various commentators to predict potential drops exceeding 50-60% in the long-term structures of altcoins.
Significant Ripple Developments
Ripple has been hosting an event this week that tackles a wide range of topics with insights from a mix of Ripple customers, team members, and industry leaders. High-profile participants included the Executive Director from the White House crypto advisory council, the President of Nasdaq, and directors from major banks like Citi’s global digital assets head, as well as figures from companies such as Fidelity, Blackrock, JPMorgan, and Mastercard.
Recently, a partnership with the University of San Francisco was also initiated. Ripple will provide funding for two years to support research and development activities focused on the XRP Ledger.
While these moves may not immediately reflect in XRP Coin prices, often swayed by general market sentiment, they hold promise for long-term positive outcomes.
Another notable November development was Ripple USD surpassing a $1 billion circulating supply. This milestone underscores the ecosystem’s growth and strengthens liquidity, given the increasing demand supporting this threshold. Notably, the market capitalization has expanded from $300 million in June to surpass $1 billion, marking a significant growth trajectory.
XRP Coin Analysis
ETF discussions remain stalled due to a government shutdown, which has extended beyond 45 days, setting an unprecedented duration. This is unsustainable, and there is hope for resolution within November, as each passing day introduces new challenges to U.S. operations. Meanwhile, ETP Trust flows remain robust, exemplified by Solana witnessing its second-largest inflow last week, while XRP Coin experienced an influx of $43.2 million.
A recent major announcement revealed the company receiving a strategic investment valued at half a billion dollars, resulting in a valuation of $40 billion. This revelation ranks among the top three news stories for Ripple this year.
After testing the $2 floor and aiming to reclaim the $2.3 foundation, XRP Coin successfully announced a significant development during this week’s event, aligning with expectations. A conducive market sentiment might have propelled prices beyond $3 solely based on this investment revelation.
In the coming days, closures above the $2.3 support could enable reclaiming the $2.54 base. Moving beyond this level might bring the $2.74 and $3.1 range back into focus. As of writing, BTC dipped below $103,000 due to nuclear comments from Putin, with Democrats seeking a meeting with Trump to discuss the shutdown.