Swell the News? XRP Drops 5% as Ripple’s Flagship Event Kicks Off
William Suberg's original article for cointelegraph.com reduced by 47%
Ripple's annual Swell conference has failed to induce positive price action for associated token XRP, data following the event shows. Swell has no impact on XRP. Having reached local highs above $0.30 on Monday, the pair began expanding as Swell began but subsequently saw a rejection at just above $0.31.
At press time, XRP was back below the $0.30 mark, trailing at $0.28 on major exchanges, its lowest price since the beginning of the month. Swell traditionally sees Ripple executives deliver future plans for the payment network, but has increasingly metamorphosed into a phenomenon of its own. The company is known for its controversial army of social media advocates, who wasted no time in advertising the event to bolster the reputation of both Ripple and XRP.
"Incredible opening. The energy here is beyond anything I can explain. You can feel the excitement all around you," one attendee, Twitter user Life's Tough Media, summarized.
XRP has suffered a similar fate to the majority of altcoin tokens since the cryptocurrency bear market of 2018. "I don't think about the price of XRP in the short term," he claimed.
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CN [too long; didn’t read]
Summarised crypto news.