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Tuesday, December 1, 2020

Will XRP Pump or Dump this Ripple Swell 2020?

Ripple Swell 2020 will be a Virtual conference

The Ripple Swell 2020 event brings together the world’s trusted leaders in financial services and blockchain technology. It has been scheduled virtual for October 14-15, 2020. They intend to change how money moves around the world. The industry experts discuss trends, success stories of blockchain implementations, and real-world blockchain use-cases to meet the changing customer demands for global payments.

However, the event is looked upon as a boost for the XRP in terms of the market value. Currently, the digital asset is trending in a very narrow range priced at $0.276 at the time of reporting. Therefore the XRP price is expected to get a push every year due to this event. But did it happen in reality?

The impact of Swell event on XRP

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The event was first started in 2017 where-in the XRP price witnessed a surge ahead of the event. It rose about 9 percent in only 24 hours and was able to maintain above $0.2. The next year did not witness any significant change with the XRP price. In fact, it dropped nearly 13 percent during the event.

The Swell event 2019 gathered the company executives and industry experts in Singapore. With a brief pump to manage above $0.3. Worth noting that Swell 2019 had the former governor of RBI (Reserve Bank of India), Dr.Raghuram Rajan as its keynote speaker.

You may also want to know – Ripple’s XRP Appeared in Official US Bill Proposal

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As the Swell 2020 is closer, XRP cryptocurrency is plummeting by 2.7 percent within the past 24Hrs. However, the token is currently trading at the value of $0.27 against USD, holding the market capitalization of $12,440,125,441.

While the surge in the price of XRP didn’t witness as much in 2018 and 2019 as it witnessed in 2017, prediction of XRP’s price rally for Swell 2020 could be uncertain.

XRP Price Continued Dipping

On the other side, parent company Ripple pushed for various partnerships and collaboration with payment entities to push the XRP adoption forward. However, XRP’s value since 2017 didn’t move significantly. In fact, one crypto community member stated that ‘if all the partnerships he promoted were the true value of #xrp should be at least 10$ but still 95% lower than what it was in 2017 3.9$”

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