- Ripple Swell 2020 is Finally Taking Place Online After Months of Planning and Preparation
- The XRP Token Has Held the Line Above the $0.25 Level so There is Hope for an Upside Recovery
Ripple News Today – The yearly Ripple Swell event is always an educational period for the entire XRP community around the globe. Delegates from different parts of the world who also happen to be industry leaders in their respective fields, participate in the event. Due to the coronavirus pandemic, however, this year’s Ripple Swell event is taking place online. This year, Brad Garlinghouse gave the first speech at the conference. During his keynote address, the CEO said that Ripple is making plans to expand the RippleNet network among other things.
Ripple News Today – Will XRP Recover as Ripple Swell Unfolds?
For the last five days, the Ripple XRP token has hovered above the $0.25 level. While this isn’t the bullish rally we were all expecting, it is important to note that the token had a hard time moving to this resistance just a few weeks ago. Now, this level has become a crucial support near-term. in the past, the hype surrounding every Ripple Swell event usually give the token a boost. So, it is not a surprise that analysts have been predicting a surge in the price of XRP. While nothing has happened yet, there is still a chance that announcements during the event will lead to a rally.
At the time of writing, the price of the XRP token was $0.2530. It was up by 2.09% against the USD and down by 1.28% against Bitcoin BTC. The trading volume over a 24 period was $1,892,815,782 and the market capitalization of $11,449,045,537. You should not keep your expectations high as the Ripple Swell event might have little to no effect on the price of the XRP token irrespective of what is announced this year. Last year, during the Ripple Swell 2019 event, Ripple announced that 10% of all the transactions from the United States to Mexico were done on the RippleNet network. Despite the amazing news, the was no bullish price reaction by the XRP token.
Ripple has listed all the speakers that are expected to participate in the event. However, the world bank has some of its representatives who will talk about the innovations in the global financial system. It is no longer a surprise that the World Bank and many other key financial institutions across the globe have shown some interest in Ripple’s technology. Ripple is even in talks with different Central banks about the issuance of central bank based digital currencies.
Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.