Did Ripple fail to Impress?
Launched in 2012, Ripple's XRP is one of the oldest cryptocurrencies available. Throughout the years Ripple managed to cultivate numerous partnerships with banks and financial institutes. Possibly due in part to its 300 various partnerships, age, as well as the XRP ARMY and fervent community Ripple became the world's third most popular cryptocurrency.
Ripple recently kicked off their Swell conference in Singapore earlier today with thousands of visitors.
Ripple's Swell Conference
Ripple kicked their conference off with their CEO's Brad Garlinghouse's welcome speech to a crowd of a few hundreds. The total amount of visitors probably ranged between 1 to 2 thousand. Garlinghouse praised XRP's multiple uses and claimed that it is the only digital asset that can scale.
The crowd included many big names and influencers in the world of cryptocurrencies. Even Bitcoin Cash's figurehead Roger Ver was sporting an XRP hat at the event.
XRP Underperforms During Swell
Seeing such an impressive event with so many excited fans, trader and industry figureheads, one would expect that XRP would experience a pump. Unfortunately, the opposite has occurred.
XRP has lost 2.86% of its value against the U.S. Dollar and 1.81% of its value again Bitcoin. While this is far from a serious dip, it is the opposite of expected.
With XRP trading at 0.2915 at the time of writing this, it is not far from its weekly low of 0.2833 which could provide a good purchasing opportunity. With one day left at Swell we hope to hear big announcents.
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Written by Jonathan Ganor
Writer & cryptocurrency aficionado