This week's Ripple Swell conference may boost XRP
Monday's XRP advances over 2%, reaching $0.5400.
Ripple Swell, the payment firm's annual partner and client conference, is October 15 and 16.
XRP hopes to rebound to $0.60, its psychological threshold.
Ripple (XRP) trades over $0.5400 Monday morning. The cryptocurrency rose almost 2% before a major event. Transnational financial remittance company Ripple is preparing for its annual conference, Ripple Swell.
The event for company partners and clients showcases Ripple's innovative technologies.
XRP holders follow the event for Ripple USD (RUSD) and custodial solution improvements.
Ripple Swell is the company's yearly flagship event where executives discuss new services and products.
At last year's event, Ripple revealed it will service SMEs. A panel of experts stated that Dubai, a UAE emirate, is becoming a center and that crypto is vital to sustainability and climate financing.
Miami hosts Ripple Swell October 15-16.
This year, XRP investors watch for the launch date of the stablecoin RUSD, new digital asset custody agreements, and executives' opinions on the SEC's case appeal.
After contemplation, Ripple submitted a counter appeal to the SEC and criticized the US financial regulator's crypto legislation.
Technical analysis: XRP may hit $0.60
XRP began rising on July 5, 2024. The XRP/USDT daily chart implies the cryptocurrency might rise almost 10% to $0.60, a psychologically significant threshold. XRP confronts resistance at the upper Fair Value Gap (FVG) border between $0.5778 and $0.5445.
If XRP corrects, the cryptocurrency might sweep liquidity around $0.5188, the daily chart's FVG lower barrier. Ripple also needs support around $0.5068, the October 3 low.
