Why is Ripple(XRP) Price Rising Today?

Key Takeaways:

• Ripple has opened registration for the upcoming Ripple Swell event where-in many influential personalities would participate as a speaker.
• The summary judgment of the Ripple vs SEC lawsuit is about to be released any time in the near future
• Despite the heavy bearish action, the XRP price continues to sustain above the gained levels, aiming to reach the immediate highs very soon.

Why is XRP Price Rising Today?

Key Developments

• Ripple recently opened registration for the upcoming Ripple Swell event, scheduled on November 16 & 17 in London. The invitees are various influencers who would participate as speakers. 

Registration for #RippleSwell Global 2022 is now open! Request your invitation today to learn what’s next for the future of crypto, blockchain and payments. https://t.co/rZMlpj77Vm

— Ripple (@Ripple) August 24, 2022

• The Lawsuit between Ripple & SEC appears to have been approaching the climax as the summary judgment is about to be rolled out very soon.
• Whales accumulate more than 60 million XRP tokens in the past couple of days worth more than $31 million at the moment
• The XRP price follows a previous pattern, and may spike high significantly after consolidating for nearly 1000 days, it undergoes steep ascend for nearly a year ahead.

Ripple Price Prediction for Today

The XRP price has been incremental ever since the beginning of the present trading month as it flipped firmly after reaching the lows close to $0.44. With a rebound, XRP managed to reach the highs at $0.5485 but despite facing a slight pullback, yet holds the $0.52 support levels. However, the token is trying hard to halt the bearish trend, but a visit to lower support may only trigger a strong rebound. 

Presently, the bears have dominated the rally as the prices are constantly dropping for the past couple of hours. Therefore, the possibility of the token testing the lower support at $0.511 appears to be pretty high. Hence before the end of the day’s trade, the XRP price may reach these levels and attempt a rebound.

 While the market sentiments are slightly coiling up, the Ripple crypto price may also rebound before testing lower support. 

Ripple Price Technical Analysis

Source: Tradingview

• The XRP price for the past couple of weeks has been trading within an ascending triangle flashing significant bullish action fast approaching
• While the apex of the triangle is pretty distinct, the price is expected to break out of the pattern before reaching the apex
• Therefore, raising the possibility of a fake breakout that may drag the price lower within the triangle again
• Here if the bears gain strength, then the price may also visit the lower support of the triangle below $0.5, else a flip may be triggered at the immediate support at around $0.511.

Ripple Price Prediction 2022, 2023, 2024 & 2025

Ripple price has been trading flat or without much volatility for nearly a year, mainly due to the ongoing Ripple vs SEC lawsuit. Moreover, the bearish market conditions further compelled the price to remain consolidated below the resistance. Therefore, in the coming days, the XRP price is expected to rise high as many factors point towards an upcoming bullish trend. Hence, laying down the possibility of a significant upswing in the coming years. 

Collectively, the Ripple price is displaying immense strength as the positive rounds of sentiments are surrounding the token. Therefore, if you want to buy XRP, then download the CoinDCX App on your smartphone and register now!

Additional Read: XRP Price Prediction