Billionaire businessman Mike Novogratz now supports XRP and praises his community and performance. The price of Altcoin has increased by over 500 %since November with the arrangement and ethous optimism. Now the XRP is struggling with $ 2.50 resistance, hoping for more price increase.
Mike Novogratz admitted that he was wrong about XRP!
Mike Novogratz, a billionaire founder of Galaxy Digital, admitted that he had recently made a mistake of doubting his power by accepting his previous misunderstanding about the XRP. Novogratz, known for his fell views on Altcoin in the past, has now become a supporter of XRP and was particularly influenced by the community.
Considering the legal challenges, Novogratz shared the change in the perspective, stating that he did not expect the XRP to perform so well. In this context, Novogratz said, “I never thought that XRP would be the best performance after the opening, but it happened. XRP Army is alive and powerful, ”he accepted the loyalty behind the token. He also said that in the crypto world, community support has become an important part of the value and success of a being.
Altcoin price increase and potential catalysts
Kriptokoin.comAs you have followed from the XRP, Donald Trump has been one of the largest crypto winners since the election victory. Token has experienced an increase of 500 %since the beginning of November. The XRP reached a high level of $ 3.40 in January due to speculation that it could be included in the US crypto currency reserve.
The optimism surrounding the XRP increased further with Trump’s nomination of crypto -friendly Paul Atkins instead of Gary Gensler. Many believe that this can lead to the end of the legal struggle against Ripple. Another important catalyst is the potential launch of the Spot XRP ETF. Seven investment companies, including Bitcoin ETFs, have already applied to SEC. Just yesterday, the CBOE BZX Stock Exchange made an official application to list and trade Spot XRP ETFs and gained even more acceleration for the token’s rise.
Altcoin is now fighting resistance
The XRP is currently trying to exceed 2.50 support after being traded between $ 2.29 and $ 2,46. On February 3, the crypto currency fell to $ 1.96, affected by wider market negativities and global tariff cuts. XRP lastly traded above the critical $ 3 level on February 1st, and it is not clear whether it will reach this level again. With the latest comments on alleviating arrangements to support innovation, many people wonder if it will help this to climb the price.
