Now that the eagerly anticipated Swell conference has taken place, there seems to be some positive price momentum building for Ripple. With it, XRP price has its eyes set on crossing $0.60.
Over the weekend, XRP saw a 6 percent increase in USD value and a 7 percent gain over Bitcoin and things look good right now for XRP. It’s currently trading at $0.55 with an overall trading volume of just over $1 billion. If this momentum remains in place, there might be a strong uptrend in the coming few days.
XRP Price Picking Up On September Momentum
September saw XRP outperform the other crypto coins with gains of over 100 percent. One simple reason for this spectacular performance was the upcoming Swell conference which is scheduled to take place between October 1st and 2nd.
The event will see keynote speeches from top leaders like the former U.S. president Bill Clinton. It aims to “connect the world’s leading experts in policy, payments, and technology for the most proactive dialogue in global payments today.”
On September 21 alone, the price of XRP shot up by more than 75 percent. As a result, the altcoin recorded the highest trading volume ever seen on Bitfinex crypto exchange.
The spectacular gains also saw XRP overtake Ethereum by market capitalization and push the altcoin to the second position on the crypto charts. An incredible feat that one has to look back to December 2017 to get a glimpse of the last time this happened. Its market cap also rose to $24 billion.
A quick analysis shows that XRP’s most productive period in the last month came between September 18-22. The price of the altcoin surged by 150 percent. This increase saw XRP record a three month high of $0.69 from $0.27.
Even though there has been a slight correction, the altcoin has managed to keep 80% of the gains gathered in September.
The technical bias shows that the price should remain bullish as far as it’s trading above the $0.43 level.
Basil has three years of freelance experience writing on disruptive technologies. He focuses on breaking news and education pieces; helping to spread the gospel of Blockchain. He hopes to have his own blockchain company one day; helping the world through its innovative ledger technology