Signs of an XRP rally are back on the horizon as the XRP community awaits Ripple\u2019s \u201cProper Party\u201d set to celebrate the win against the US Securities and Exchange Commission. Like most of its peers, XRP price is in the green on Friday riding on a flurry of news surrounding the\u00a0approval of futures-based Ethereum exchange-traded funds (ETFs)<\/a>\u00a0and the delay on the regulator\u2019s decisions on spot Bitcoin ETFs.<\/p>\n XRP price is up 2.4% on the day to $0.507<\/a>\u00a0as $703 million in trading volume comes in, supported by $27 billion in market capitalization. The cross-border token has since July steadied its lead ahead of the second largest stablecoin USD Coin (USDC) which ranks in sixth place with a market cap of $25.5 billion.<\/p>\n <\/p>\n Ripple is ready to host its big event dubbed the\u00a0\u201cProper Party\u201d<\/a>\u00a0as it celebrates a key achievement\u2014the win against the SEC in the long-standing court battle following allegations by the agency that Ripple violated US securities laws with the sell unregistered token \u2013 XRP.<\/p>\n The court ruled in early July that programmatic sales of XRP conducted on third-party exchanges do not constitute security tokens. However, sales made directly to institutional investors were deemed securities.<\/p>\n Ripple believes the partial win against the SEC is a win for crypto. Brad Garlinghouse, Ripple\u2019s CEO echoed these sentiments as he fired at the\u00a0SEC Chair Gary Gensler<\/a>\u00a0this week, saying, \u201cYou have to stand up to a bully.\u201d<\/p>\n <\/p>\n “You have to stand up to a bully.” ~@bgarlinghouse<\/a><\/p>\n Ripple’s Brad Garlinghouse and Stuart Alderoty on standing up to and defeating Gary Gensler’s SEC.#Mainnet2023<\/a> \ud83c\udf36\ufe0f pic.twitter.com\/jEXuqTKo07<\/a><\/p>\n \u2014 Messari (@MessariCrypto) September 27, 2023<\/a><\/p>\n<\/blockquote>\n Ripple\u2019s Proper Party will be held in New York on Friday, September 29, and with it are expectations of key announcements for the XRP community. XRP holders expect this event would enhance sentiment around the price, which many believe is highly undervalued.<\/p>\n At least two major announcements are anticipated amid speculations of plans for an IPO or settlement with the SEC. Neither are guaranteed but investors are hopeful for some upward action in XRP price.<\/p>\n <\/p>\n XRP price holds above $0.5, an immediate yet pivotal support level reinforced by a confluence of the 50 Exponential Moving Average (EMA) (red) and the 100 EMA (blue). XRP must uphold this level, which could serve as a springboard to the price as bulls seek to resume the uptrend.<\/p>\n Slightly from the current price, there is a significant barrier at $0.5148 highlighted by the 200 EMA (purple). Until\u00a0XRP price steps above this resistance area<\/a>, the risk of further declines, or consolidation above $0.5 will remain.<\/p>\n Sidelined buyers have the opportunity to get exposure to XRP longs, especially with the Moving Average Convergence Divergence (MACD) indicator revealing a buy signal. This call to investors to buy XRP manifests with the blue MACD line flipping above the signal line in red while the momentum indicator generally moves upwards.<\/p>\n Meanwhile, caution is advised based on the position of the Relative Strength Index (RSI). After gradually ascending from near-oversold conditions on Monday and stepping above the midline (50), the RSI shows signs of retracement. In other words, bulls are struggling to sustain the uptrend above $0.5.<\/p>\n To validate a significant breakout, XRP price must rise above the 200 EMA and the triangle resistance around $0.52. This will trigger interest from traders waiting to see if Ripple\u2019s big event will have a positive impact on the price. The next key resistance lies at $0.54 and $0.62, not to mention $0.85 along the path to $1.<\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\nWill XRP Price Rally During Ripple\u2019s \u201cProper Party\u201d<\/h2>\n
\n
Important XRP Price Levels<\/h2>\n
![\"XRP](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/09\/XRPUSD_2023-09-29_10-21-48.png\")
<\/a>Related Articles<\/h3>\n
\n ![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n![\"\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\")
<\/div>\n
![\"\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\")
![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/382b200bdfe14eeef2a23454909dbc78?s=200&d=mm&r=g\")
![\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\")
![\"will_cramer_curse_strike_again_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\")
![\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720.jpg\")