XRP, the third-largest cryptocurrency in the market today, is again receiving some attention as it normally is for the coin this time of the year. There have been speculations that the gains posted by XRP are in anticipation of the annual SWELL Conference by Ripple to be held next month. As at the time of writing, XRP trades at $0.27, 9.58% gain from the days’ open.
Investors Demanding For XRP In Anticipation of Great Gains
It’s that time of the year when investors buy as many XRPs as possible. This is in anticipation of great gains that usually occur before Ripple’s most prestigious event, the SWELL conference.
As ZyCrypto reported in 2018, XRP was one of the most talked-about during October. As per the report, there were days the token made double-digit gains, with trading volume rising from $400 million to $900 million during the same period.
Just a month ahead of the 2019 Swell conference, a re-occurrence of events seem to be happening. XRP, which currently is shooting for some double-digit gains currently trades at $0.2780, 9.59% gain from the day’s open, with a 24hr volume of over $1.6 billion.
The Ripple’s 2019 SWELL Conference is scheduled to hold on Thu, 7 Nov 2019, to Fri, 8 Nov 2019, in Singapore. The event has drawn the attention of a couple of dignitaries such as Bill Bernanke, Sir Tim Berners-Lee, Bill Clinton, and so on.
This year won’t be different. Expected dignitaries include; former Governor of the Reserve Bank of India, Dr. Raghuram Rajan, Katherine Dusak Miller, a Finance Professor at Chicago University, and bKash CEO Kamal Quadir, among others.
Ripple’s XRP Known To Deflate After “Swelling”
Past occurrences have shown, during 2017 and 2018, that the end of the event is always time to close positions and take accrued gains. XRP, which may have set new year highs, will then be seen giving up all those gains, ending badly for the token.
But with Ripple’s recent announcements, acquisitions, and partnerships, it’s possible that XRP makes its way to new highs and also maintains its position. However, only time will tell.