XRP Breaches the $1.50 Wall: Is $2 in the Bag?

Ripple’s native token XRP breaches the much-awaited $1.50 wall on Monday, reaching the day’s high of $1.56. It is now hovering around the $1.50 range, with both the bulls and bears pulling it in their direction. The rise has brought in a fresh sense of enthusiasm in the markets, and commentators are predicting that the next leg up for the leading altcoin is $2. The cryptocurrency must rise by approximately 35% to reach the psychological milestone and re-enter a new era in the charts.

Also Read: XRP Hitting $10 Could Be Nearer Than You Think: Here’s Why

After Breaching $1.50, Can XRP Reach $2 Next?

Yes, Ripple’s native token XRP has good chances of breaching the $2 wall next, after successfully reaching the $1.50 mark. However, one condition is that the altcoin must maintain this position to look forward to hitting the milestone. Another reason why XRP could climb above $2 is that Bitcoin is steadily scaling up in the indices. BTC is trading at $83,000 on Monday and is hitting fresh monthly highs.

After Donald Trump’s announcement last month that the US government is considering buying a “sizeable” amount of Bitcoin, the world’s biggest cryptocurrency by market cap has only been surging. When Bitcoin rises, leading altcoins move in tandem with its price and scale up in value. XRP is replicating Bitcoin’s movements, and if BTC surges further, reaching the $90,000 to $100,000 mark, XRP will cross the finish line of $2.

The chances of Bitcoin hitting there are high, as Crude oil prices fell below $100. Crude oil is now trading at $94 per barrel, and the economic situation is seemingly coming under control. The US stock market is also performing well, delivering better-than-expected results. If oil prices continue trading at the $94 level or fall below $89, Bitcoin and XRP have the best chances of reaching 90,000 and $2, respectively.