XRP Fails to Increase Prior to the Swell Conference – What’s Next?

XRP Fails to Increase Prior to the Swell Conference – What’s Next?
фото показано с : beincrypto.com

2019-11-8 01:18

The Swell conference is being held in Singapore during November 7-9. It is considered the most significant conference organized by Ripple, the creators of XRP. The conference aims to bring influential speakers from the technology, financial services, and the payment industry.

During the previous two years, the XRP price has significantly increased prior to this conference. However, this has not been the case this year, since XRP has been consolidating for the past two weeks. There has been positive news in the XRP ecosystem, mainly resulting from MoneyGram’s praise of its partnership with Ripple in order to utilize blockchain capabilities for money transfers.

The technical outlook for the XRP price remains bullish and we believe that the price will soon revisit the highs at 3800 satoshis.

Crypto trader @CredibleCrypto stated that during the Swell conference, a Peruvian bank announced that they have switched from xCurrent, a software used by Ripple to xRapid, another similar but slightly different software.

1 of Ripples 300+ customers that has decided to start utilizing ODL (REQUIRES $XRP) after using xCurrent over for a year. This is the game plan. Sign customers up with xCurrent, and convert them over to ODL when ready. Over 24 institutions using $XRP (ODL) right now. https://t.co/gbOaHiCctd

— Credible Crypto (@CredibleCrypto) November 7, 2019

The main difference is that in order to use xCurrent you do not need the native token, XRP, but you do for xRapid. Therefore, the use of the latter could have a positive effect on the price.

Let’s take a closer look at the XRP price movement and see if its future outlook is bullish.

XRP’s Long-Term Bottom

Once XRP reached a long-term bottom at 2300 satoshis, it began to move upward. It created six bullish candles in a row before beginning to decrease.

The bottom was accompanied by both bullish divergence in the RSI and a bullish cross in the MACD.

In the short-term, XRP has created a double bottom at the minor support area of 3100 satoshis.

Again, this has been combined with a very significant bullish divergence in both the RSI and the MACD.

Additionally, the price has created two very long lower wicks, indicating that there is buying pressure.

This makes us believe that XRP will again revisit the highs near 3800 satoshis and possibly move higher. We go into this a little more in a video, which you can view below:

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 TradingView, Twitter.

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The post XRP Fails to Increase Prior to the Swell Conference – What’s Next? appeared first on BeInCrypto.

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Ripple (XRP) на Currencies.ru

$ 0.5177 (-0.42%)
Объем 24H $480.754m
Изменеия 24h: -1.35 %, 7d: 2.39 %
Cегодня L: $0.5172 - H: $0.5235
Капитализация $28.623b Rank 7
Цена в час новости $ 0.2687 (92.67%)

conference xrp prior swell fails increase significantly

Источник: beincrypto.com

conference xrp → Результатов: 65


Ripple’s CTO David Schwartz Believes Amazon, Seagate, Uber, and Others Can Benefit from Using XRP

David Schwartz, Ripple’s chief technology officer, at the WeAreDevelopers conference in Berlin, Germany outlined XRP’s potential in reducing the friction in global payments. The CTO also hinted that Seagate, Amazon, Airbnb, Uber, and other companies that handle a large number of financial transactions on a daily basis can benefit greatly from the use of blockchain-based […] The post Ripple’s CTO David Schwartz Believes Amazon, Seagate, Uber, and Others Can Benefit from Using XRP appeared first on ZyCrypto.

2019-7-17 19:00


Ripple CEO Announces Games to Be Built on XRP Ledger While at Davos Conference

The blockchain technology industry has been thriving for the last few years, as the industry finds new use cases in the healthcare industry, shipping industries, and even the food industry. Ripple, being one of the biggest enthusiasts of bringing decentralization to every marketplace, has decided to expand their products to include gaming opportunities in a […]

2019-1-29 08:08


Did SWIFT “chicken out” of a debate with Ripple and how will this affect XRP price?

The long-awaited confrontation between Ripple and SWIFT that was scheduled to happen during this year’s Blockchain Economic Forum in Davos will apparently not be happening after all. Ripple’s official subreddit broke the news today, confirming that the CEO of SWIFT, Gottfried Leibbrandt, withdrew from his speaking role at this event’s round table conference on payment […] The post Did SWIFT “chicken out” of a debate with Ripple and how will this affect XRP price? appeared first on CaptainAltcoin.

2019-1-21 15:53


American Express Corporate Applauds Ripple for Facilitating Global Payment Processing Using XRP

Ripple has received showers of praises from the American Express for its outstanding performance in enhancing the global payment processing system via its XRP and other financial tools. The General Manager of the American multinational financial service organization corporation, Amex, commented on Ripple’s ability when speaking in a conference.

2018-12-10 16:19


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.

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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.

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