XRP price prediction reported a 3.4% surge during the Saturday session, teasing a bullish breakout from the $0.6 resistance. The sudden inflow could be linked to Vice President Kamala Harris accepting the invitation from CNN for a second debate with President Donald Trump on October 23. A potential breakout ahead of the Ripple Swell could position XRP for a prolonged rally.
XRP Price Prediction: Ripple Swell Event and SEC Appeal in Focus
Over the past two weeks, the XRP price prediction showcased a notable recovery from $0.5 to $0.6%— a 20% increase. Besides the general market uptick amid Fed rate cut speculation, the diminishing dates for the U.S SEC to appeal against the latest court ruling where Ripple is fined $125 million in civil penalty is gradually bolstering the bullish momentum.
Moreover, the global payment solution platform Ripple is gearing up for the highly anticipated annual event, Ripple Swell 2024, which is set to take place in Miami on October 15-16, 2024. The event welcomes top leaders from financial services, blockchain, digital assets, and economic policy sectors.
Ripple Swell fosters thought-provoking discussions, major insights for the future outlook of payment solutions, and unparalleled networking opportunities. The event amid the uptober crypto rally could intensify the bullish narrative in XRP price prediction.
Ripple Coin Tease Bullish Breakout 3-year Consolidation
Over the past two months, the XRP price has showcased a sideways trend, struggling to surpass $0.65 resistance. This consolidation trend has displayed several failed attempts by crypto buyers to breach the upper boundary of a symmetrical triangle pattern that has been intact since September 2021.
Typically, this chart pattern drives a temporary lateral trend for an asset before the prevailing trend recuperates its momentum for the next push. By the press time, the XRP price prediction hints at a bullish from the overhead trendline currently trading at $0.607.
A successful breakout with daily candle closing will end the multi-year accommodation trend and set a potential rally to $0.93, followed by $1.4.
On the contrary, if downsloping resistance stands firm and reverts the XRP price lower, the ongoing consolidation could extend to Quarter 4.
Frequently Asked Questions (FAQs)
Ripple Swell 2024 is set for October 15-16, 2024, in Miami, where key announcements are expected
The SEC has 16 days remaining to appeal the recent court ruling related to Ripple
XRP is facing strong resistance at $0.65, with consolidation from a symmetrical triangle pattern intact since September 2021.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/xrp-price-prediction-investors-ripple-swell-sec-appeal/
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