Ripple Partners with Nelnet to Create Investment Fund to Finance Carbon-Reductive Projects

13 October 2021 | Updated: 13 October 2021

One of the top enterprise blockchain and cryptocurrency solutions, Ripple (XRP), recently announced a partnership with Nelnet Renewable Energy through a $44 million joint investment. The official press release noted that Ripple provided a higher share of the investment.

The investment would finance solar energy projects across the US as a show of support for the transition to a cleaner and more stable energy future.

According to Nelnet, the solar projects financed by the Ripple Nelnet Renewable Energy Fund would offset more than 1.5 million tons of carbon dioxide over 35 years.

Ripple forged numerous partnerships in 2021 to foster the creation of a carbon-neutral future for global finance. In 2020, the blockchain company partnered with Energy Web and the Rocky Mountain Institute to “decarbonize” the XRP Ledger.

Commenting on the new development, Head of Social Impact at Ripple Ken Weber stated that:

“Guaranteeing a clean energy future is a major priority across every industry, not only to drive future economic growth but also to ensure a more sustainable world. As the adoption of cryptocurrencies and blockchain continues to grow, it’s evident that the technology will underpin our future financial systems. We’re excited to work with Nelnet as we pursue our commitment to reduce the carbon footprint of financial services globally and to deliver on the promise of the carbon-negative cryptocurrency industry.”

Key Ripple Levels to Watch — October 13

XRP has returned into the three-week-long ascending channel and $1.1000 – $1.0500 pivot zone, as the broader market records a massive correction since the recent bull run.

XRPUSD – 4-Hour Chart

The sixth-largest cryptocurrency maintains a bullish attitude above the $1.0500 pivot line, despite attempts by bears to push the price lower. That said, we expect XRP to reclaim a standing above the $1.1000 pivot level in the near term, followed by a bullish continuation to the top of our ascending channel at the $1.1500 zone.

A break above this level should cement a bullish recovery to the $1.3000’s over the coming days and weeks. With market conditions at neutral levels, this projection could get initiated soon.

Meanwhile, our resistance levels are $1.1000, $1.1500, and 1.2000, and our support levels are $1.0500, $1.0000, and $0.9500.

Total Market Capitalization: $2.27 trillion

Ripple Market Capitalization: $50.9 billion

Ripple Dominance: 2.24%

Market Rank: #6

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.