As analysts chart a potentially bullish trajectory for Ripple’s XRP, a significant wave of investor attention is being captured by a rising star in the crypto space: Collateral Network (COLT). In phase 2 of its presale, the new DeFi project draws investors with its pioneering asset-backed lending model and the promise of a 35-fold price surge.
It’s no secret that XRP has had a poor couple of years, with the price not resisting the 2018 high of $3.84 for more than five users. However, analysts are now saying that there is a strong possibility of XRP experiencing price growth in the near future, with some predictions even putting the coin at $5.
The cause of XRP’s decline is the SEC’s lawsuit against Ripple, which is accused of conducting an unregistered securities offering of XRP tokens. After several years of legal proceedings, the matter is still ongoing, and investors are cautious about investing in XRP until the outcome becomes clearer.
However, rumors are circulating that XRP is winning the legal case against the SEC. If this is true, XRP could quickly make up for lost ground and target the 2018 high of $3.84. Adding to the bullish sentiment, Ripple recently announced the launch of a new CBDC platform that is already being used in Asia.
The price of XRP has also been performing well recently, with the coin surging more than 20% in the last two weeks. This price surge saw XRP surpass the $0.50 psychological barrier and settle at a current price of $0.53. With the next resistance zone at $0.56, analysts are optimistic that XRP can break it and attempt to break above $1.00 this year.
Collateral Network poised to penetrate the lending market
Collateral Network is a lending platform that allows you to borrow money by providing valuable items as collateral. These items range from art, property, and cars to luxury goods like fine wines, jewelry, and watches.
The collateral is tokenized into a unique Non-Fungible Token (NFT), which can be divided into smaller units, each representing a fraction of the total value of your asset. These fractional units can be purchased by several lenders on the Collateral Network platform.
Collateral Network’s unique approach to lending lowers the entry barrier for lenders by allowing someone with a small amount, even $10, to take part in the lending process. This breaks away from traditional lending practices and opens up opportunities for a more significant number of people to become lenders.
At the time of writing, COLT tokens can be bought at a discounted rate of $0.014 in phase 2 of the Collateral Network (COLT) presale. Market analysts note that Collateral Network offers a revolutionary approach to a trillion-dollar industry, so a price rise to $0.35 is likely upon launch.
Find out more about the Collateral Network presale here: