- Ripple’s Swell Event to Influence XRP Trading Price Before and After
- History to Repeat Itself Says Some Crypto Analyst
Ripple’s XRP, the third-largest cryptocurrency by market cap seems to be stable amidst Bitcoin and other altcoins sky diving trading price in the past few days. Although, this is due to the influence of the forthcoming SWELL event, an annual event hosted by Ripple. Several analysts have predicted a good trading price for the coin and advice traders to invest as the outcome will be impressive.
Ollie, a famous crypto analyst stated in a recent interview that the XRP trading price is retesting the bullish breakout of 2017 that is the year of crypto hype. He explained how XRP would continue to surge between now and the Ripple Swell Event. Going by his previous chart in September 2016, XRP was trading at $0.005, at that time the coin surged by 72.86% that saw trading price above the downtrend line.
In spite of the price decline after that event, XRP still traded above the trend line, getting support on the line in January and March of 2017. Thereafter, the bulls skyrocketed massively. Which saw the trading price over a penny and afterward pushing it to its all-time highest point. A similar pattern has been observed by Ollie, where XRP made its 70%+ move in May 2017 and found support above the downtrend line from July-September 2019, the trading price is currently ready for another rare breakout.
History to Repeat Itself Says Some Crypto Analyst
Another analyst, @galaxyBTC on twitter shares the same opinion with Ollie, he shared his view with the XRP community stating the previous surges before and after the Swell event. He is basing is predictions on the same pattern as seen in 2017 and 2018, which saw the trading price of XRP increased with +115% and +220% individually. He believes there will be a decline after the Swell event this year, this is going by the 43% decline in 2017 and 51% in 2018 consecutively.
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $1.29
As the Swell event by Ripple draws closer, traders are traveling 2 years back to obvious the price movement of XRP before and after the event. And they believe the trading price will record a huge increment. The Swell event is slashed for November 7th and 8th in Singapore. The website of the event states that: “Swell, hosted by Ripple, brings together the world’s most trusted voices across financial services, payments, technology and policy to share the reality of what’s unfolding in global payments today — and why it matters.”