In the latest trading session, the trading price of XRP experienced a 1.78% surge. A day earlier, the investors had witnessed a 3.35% decline in the trading price of XRP.

The latest trading session has slightly reversed the 3.35% slip and has helped XRP hit a trading price worth $.038213.

It is the ninth consecutive trading session where the trading price of XRP has ended the session close to the $0.40 level.

Price of XRP on Thursday

As the latest trading session began, the trading price of XRP rose to a high of $0.38671. Despite experiencing a strong rally, the price of XRP was unable to cross the $0.3902 level.

The TradingView data shows that the trading price of XRP was trying to hit and cross the first resistance level at $0.3902.

As the bulls failed to form a rally strong enough to cross the first resistance level, XRP’s price fell to a low of $0.36900.

Despite experiencing a dip, the trading price of XRP did not fall below the first support level. At the time of writing, the first support level is $0.3611.

However, towards the end of the trading session, the price of XRP surged again and it went up to a high of $0.38213.

Optimism over Ripple’s Possible Win

The recent rallies in the trading price of XRP have been triggered due to the possibility of Ripple winning the case against the US SEC.

According to the latest updates, Ripple has been gathering a great amount of support from the crypto industry. So far, more than 15 cryptocurrency firms have backed Ripple, increasing its winning chances.

With a high winning opportunity in sight, the investors’ confidence has been rising in XRP. For now, the only factor dragging down the trading price of XRP is the latest FTX collapse.

Many investors are fearing a contagion following the FTX crash, stopping the investors from going all out investing in XRP.

As soon as the FTX crisis fades, the only factor impacting XRP would go away, allowing it to surge at its full potential.

Ripple Blockchain is Gaining Recognition

Ripple has been forming partnerships with various banks and payment platforms across the globe.

The platform has been helping financial entities to use their blockchain and offer charge-free cross-border transactions.

Just recently, Ripple has formed partnerships with multiple banking firms. These firms include the National Australia Bank, CIBC from Canada, and Bank Leumi from Israel.

XRP’s Future Price Movement

Due to the latest developments, the trading price of XRP may continue surging. As the sentiments of the investors keep growing bullish, XRP’s trading price may cross the $0.40 barrier and then go on to hit $0.45.