In Singapore, the Swell of a conference of Ripple has been running since yesterday. The annual Event is not only important in order to promote the exchange of information between banks, financial service providers and other players, with Ripple, but is considered to be a possible price driver for XRP. Each year, the Event of Ripple had a positive impact on the XRP price. But currently one talks about it that it was in the past, this Event is always a XRP price Dump. A Crypto Analyst, goes even a step further and claimed on the basis of his technical chart analysis and other fundamentals that the Ripple rate could promptly collapse to 50%.
XRP course, under pressure, through the Swell of a conference?
In 2017 Ripple launched for the first Time, the Swell conference. The competition-Event for the Sibos conference, SWIFT has already taken care of at the time for a lot of attention. Ripple has placed some of the cars with Ripple stickers in front of the Sibos conference, the visitors, to poach and to free the Swell conference. But also guests such as the former President of the USA Bill Gates provided for additional attention.Many investors are hoping that there will be breaking news to the development of Ripple and XRP on the Swell conference. The led in the run-up to the XRP price increase shortly before the Event. This News is being priced in again and again and then again Sold off. According to the Motto: “Buy the Rumors, Sell the News”. This year, the Ripple price remained subdued. Within a few days, the XRP price has risen by slightly more than 5% and was yesterday when the Event started, and again Sold-off.Trading crypto-currency CFDs, in the case of Skilling. Bitcoin and Crypto CFDs with competitive Spreads, transparent pricing, and ultra-fast order execution. Most Skilling today and see for yourself.Get started now!
The Ripple price decline of 50% now?
The Ripple Swell conference is scheduled to run until tonight. Therefore, the Crypto Analyst TEDDY expected, some investors prepare for it, if no surprising news to be announced, to sell their XRP. The Analyst shows in his technical analysis that the XRP was not able to break out of rate out of the Down Trend and thus, a further XRP price drop of up to 50% threatening.
#RIPPLE | $XRPGenuinely do NOT understand why everyone is bullish on this?– Diagonal resistance didn ‘t break in 600 days (recent rejection)
– Huge 50% gap to next support
– Rejected from previous support, now resistance
– SWELL DUMP
It’s @Ripple c’mon👋🏻 pic.twitter.com/WkP5Ef47Pk— TEDDY ⛓ in a while📉 (@teddycleps) November 7, 2019
The Swell XRP price Pump is in his eyes already gone. The XRP/BTC Chart shows is that the XRP price could not get enough of a boost to the 600-day diagonal resistance sustainable to break through. That could maneuver XRP to the next support, which is approximately 50% below the current value. This would throw back the XRP price on the XRP/BTC level by 2017.
Ripple and XRP is on the rise – No reason to panic
Currently, the Ripple rate is still about 90% below its previous all-time high of 3.82 USD. Thus, the XRP price will not reach this mark again, it takes an increase of over 1,100%, which is currently still in the distance.The Crypto Analyst has some points right, but a sudden drop of 50%, we should push first to the rear. The XRP price is, regardless of the next larger chart technical support, is still very far away. In addition, in the last few weeks a lot of positive News to Ripple and XRP. Ripple can always pull more partners in the country, the use and demand for ODL (formerly xRapid) continues to grow and some existing customers to consider from the RippleNet (formerly xCurrent) to switch to ODL. Therefore, there is currently no reason to panic.How is your opinion of the Ripple (XRP) price to the Swell of a conference?Come in to our Telegram Chat and talk with the experts and the Community. Subscribe to our News channel to not miss any News. (Image Source: Shutterstock)