How Will the XRP Price React to the Upcoming Swell Conference?

How Will the XRP Price React to the Upcoming Swell Conference?
фото показано с : beincrypto.com

2019-10-30 04:41

The Swell conference, which is hosted by Ripple and is its biggest conference of the year, will be held on Nov 7-9 in Singapore. It aims to bring in influential voices in the financial services, technology, and payments industry in order to discuss the current global payments industry. Will it have an effect on the XRP price?

MoneyGram has previously reached a partnership with Ripple in order to improve its liquidity management and operational efficiency. Additionally, the CEO of Moneygram is set to share insights from this experience and the future of the transfer payments industry at the Swell conference — further increasing the importance of this partnership.

Additionally, since the history of the previous price movement has been interesting before the conference, now is a good time to look at the current XRP price movement.

While the XRP price decreased significantly against Bitcoin (BTC) during the October 25 increase, the technical outlook does not seem bearish. If XRP weathers the storm and holds support above 3000 satoshis, it is likely to make a higher high.

However, cryptocurrency trader @thecryptocactus stated that the XRP/BTC pair has significantly more downside potential after its breakdown from the support line.

$XRP showing huge downside in its BTC pairing after breaking down from this longterm trendline support.

Price wicked down to 0.618 fib level before hunting for stops and finally finding some candle close at the 0.5 fib line.

Expecting price to range between 0.5/0.618 fib level. pic.twitter.com/wMhrRnN1un

— Cactus (@TheCryptoCactus) October 29, 2019

XRP Price: Double Top

The XRP price created a double top once it reached the resistance area at 3800 satoshis. The double top is a bearish pattern and it caused the price to immediately break down below the support area.

After the breakdown, the XRP price reached the minor support area at 3000 satoshis — created by the highs of September 18.

Moving Averages

Looking at the moving averages (MA), we can see that the 200-day moving average was a catalyst in the double top rejection — coinciding with the 3800 satoshis resistance area.

What is interesting is that after the decrease, the XRP price has reacted favorably to the 50- and 100-day MAs. They have previously made a bullish cross, possibly suggesting that further increases are in store.

If the MA support fails, the next support area is found at 2700 satoshis.

Long-Term

The long-term outlook seems bullish since the XRP price reached a significant support area and created a bullish divergence before beginning the current move.

Also, a bullish cross in the MACD suggests future increases.

Disclaimer: This article is not trading advice and should not be construed as such. Always consult a trained financial professional before investing in cryptocurrencies, as the market is particularly volatile.

Images courtesy of Twitter, TradingView. 

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The post How Will the XRP Price React to the Upcoming Swell Conference? appeared first on BeInCrypto.

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conference swell payments industry react upcoming price

Источник: beincrypto.com

conference swell → Результатов: 57


Фото:

Cuallix CFO Explains the Benefits of Ripple’s xRapid for Mexican Cross-border Payment Recipients

Speaking on the sidelines of Ripple’s Swell conference, Cuallix CFO Nicolas Palacios talked about Ripple’s xRapid project and how it brings benefits to cross-border payments in Mexico. Cuallix is one of Ripple’s partner financial institutions and was one of the first firms to work on the commercially available xRapid platform.

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Ripple Reveals Another Global Financial Institution Using XRP-Powered xRapid

Ripple is building on its success and consolidating itself as the “bridge” between the blockchain ecosystem and traditional fiat money based payment processors. During the Swell Conference, after announcing the public release of xRapid, the Ripple team commented that there were already three important global payment processors already making real use of this technology.

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Again Ripple stole the headlines this week with its annual Swell conference including novelty speakers such as Bill Clinton and a performance from the Counting Crows. But it was perhaps the news of the latest data breach at Facebook that was the most significant for crypto this week, forcing its hand closer to decentralization and bringing crypto mainstream.

2018-10-6 22:30


Ripple Partner TransferGo Unveils Blueprint For Solving Real-Time Cross Border Payment Issues

Ripple’s 2018 iteration of its annual Swell conference saw various blockchain startups and firms present their unique ideas and visions to the world. For example, early on day two, Daumantas Dvilinskas, the CEO of TransferGo, explained to the caucus how his firm plans to change the game when it comes to facilitating “real-time global payments” […]

2018-10-3 19:40


Buy the Rumor, Sell the XRP?

“Buy the rumor, sell the news” is an old Wall Street axiom. Many believe we are now at the selling part for Ripple’s token XRP. It has just announced its launch of the xRapid product at this week’s Swell Conference in San Francisco, and there were some large appreciations in the anticipations building up to the […] Buy the Rumor, Sell the XRP? was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-10-3 18:25


Фото:

Ripple Survey Says 75% Of ‘Payment Professionals’ Want To Use Digital Assets

45 percent of 700 “global payments professionals” who took part in Ripple’s Blockchain in Payments Report are in the process of adopting the technology.   Ripple: Adoption ‘Tipping Point’ Is ‘Fast Approaching’ That was according to the results of the first mass survey undertaken by the company which it unveiled at its Swell 2018 conference October 1 -2.

2018-10-3 18:00


Ripple Swell Day Two Roundup: Regulation, Blockchain Adoption, and XRP

The second and the final day of Ripple’s Swell conference maintained the excitement of the previous day. The San Francisco event, which on the first day saw former US President Bill Clinton taking the stage to speak about crypto revolution, and the launch of Ripple’s much-awaited xRipple cross-border payment service, shifted its focus to blockchain.

2018-10-3 14:39


[Newsflash]: Bank of America and Ripple in Active Discussions at Ripple’s SWELL Conference

Bank of America and Ripple Are in Active Discussions at Ripple’s SWELL Conference, According to Report Ripple’s SWELL conference got underway earlier today in San Francisco. According to reports online, Bank of America has sent representatives to enter discussions with Ripple’s team regarding a payment systems platform. Here’s what The ICO Journal had to say […]

2018-10-2 23:33


Фото:

Ripple Opens Swell With Another Flip and Another Release

Say what you like about the folks at Ripple Labs, but they sure know how to organize a party. The creators of the XRP token are expected to open the annual Swell conference in San Francisco with several major deliveries, including a keynote speech from a former president, another jump in market cap rankings and new […] The post Ripple Opens Swell With Another Flip and Another Release appeared first on Crypto Briefing.

2018-10-2 17:44


Фото:

‘I Did Not Have Monetary Relations’: Bill Clinton Ripple Hook-Up Causes Ridicule

Ripple is facing a fresh publicity rollercoaster this week after the company announced former US president Bill Clinton would give the keynote speech at its upcoming Swell conference. Ripple: Clinton ‘Helped Shape Internet’ Swell, Ripple’s own conference which aims to connect “the world’s leaders in policy, payments and technology,” will run in San Francisco October 1 – 2.

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