XRP Price Prediction as Investors Await Ripple Swell & SEC Appeal
Highlights
- XRP price could gain momentum in October, with only 16 days left for the SEC to appeal the recent court ruling.
- Ripple's Swell conference on October 15-16, 2024, in Miami could further drive XRP momentum, with key announcements expected.
- A bullish breakout from the long-coming triangle pattern will release the XRP coin from the accumulation trend.
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
When will the Ripple Swell event take place?
When is the SEC appeal deadline for Ripple?
What is the current key resistance level for XRP?
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