XRP Ready to ‘Swell’ 220% in the Next Three Weeks as Ripple Event Nears

XRP is seeing a lot of greens in October after dropping down to $0.235 at the end of September. In the past week, the third largest cryptocurrency surged a good 9 percent.

At the time of writing, it has been trading at $0.279 with 24 hours gains of 2.11 percent, as per Coincodex.

But it also can’t be ignored that the cryptocurrency is still down over 22 percent year to date and 92.72 percent from its all-time high of $3.40.

Some of these price gaps, however, are likely to be filled in the next few weeks in anticipation of the upcoming Swell event.

Swell Event 2019

Hosted by Ripple, Swell brings experts from the field of financial services, payments, technology, and policy together to share “what’s unfolding in global payments today — and why it matters.”

The Swell event, that has been launched to compete with its rival Swift — the organizer of the Sibos conference — will be held this time from November 7 – 8 in Singapore.

The keynote speakers of the event involve Kamal Quadir, CEO of bKash, a mobile money service in Bangladesh; Ambassador Chan Heng Chee, Ambassador-at-Large
 within Singapore Foreign Ministry; and Dr. Raghuram Rajan, former Governor of the Reserve Bank of India and former Chief Economist at the IMF.

Last time, Ripple announced that xRapid is finally commercially available and will be going into production with three financial institutions. It would be interesting to see what will the company unveil this time.

XRP Ready to Fly

If we take a look at the price of the digital asset, this is extremely good time for XRP. Before the Swell event in 2017, XRP price shot up 115% and the next year, a much bigger spike of 220% was seen in its price, notes analyst Galaxy.

Based on these historical gains, XRP can jump anywhere between $0.30 to $0.60.

However, once the event is over, XRP price losses as much as half of its value. The digital asset saw a drop of 42% and 51% in 2017 and 2018 respectively after the event.

As such the strategy for this “trade of the year” by the analyst is to “Long 2 weeks before Swell, and short when the event is over.”

Then, a known cryptocurrency trader by the name of GalaxyBTC added this about the possible swell in XRP price to come.

But to counter that, another popular trading analyst of cryptoassets, Big Cheds said this:

As quarter four ramps up, it will be interesting to see what the most controversial cryptoasset outside of Bitcoin will do as all eyes will be focused on the upcoming Ripple company event where they will feature keynote speakers Kamal Quadir (bKash CEO), Ambassador Chan Heng Chee (Singapore Foreign Ministry), Dr. Raghuram Rajan (Katherine Dusak Miller Distinguished Service Professor of Finance) among many financial services surrounding blockchain technology, policy, payments, central banking, academia and other experts across the industry. As mentioned, the invite-only event is November 7-8, 2019.

And given the size of the Ripple company alone, who is the fifth biggest blockchain-based firm in the world behind Binance, Coinbase, ConsenSys and OKEx/OKCoin, it will likely be a big XRP army affair for the ages.

There was also recent announcement of the merger of Ripple products into RippleNet; that being xRapid, xVia and xCurrent. Also, Xendpay now runs on Ripple, which aims to replace high bank charges where you can send £2,000 back home or anywhere around the world and pay no transfer fees.

We also talked about the week Ripple had in another post:

It will be very interesting to see what comes of XRP in the coming weeks, as even XRP_News twitter handle had this to say:

xrp-price-standard-twitter

Then there was the recent update from Santander and their new open banking PSD2 video:

Hard to say if the price of XRP coin will hit $0.75 per token, but we leave you with CEO Brad Garlinghouse and his talk with FOX Business and one from the Economic Club of New York:

Who had the quote of the week for Ripplers in saying:

“We own a lot of XRP and of course we're interested in its success, but that doesn't make us a security. Exxon owns a lot of oil, but that doesn't make it a security”

Live Ripple (XRP) Price:

1 XRP/USD =$0.1758 change ~ 0.20%

Coin Market Cap

$7.61 Billion

24 Hour Volume

$136.07 Million

24 Hour VWAP

$0

24 Hour Change

$0.0004

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AnTy
AnTy
AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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