**XRP Price Drops 7.5% Despite Upcoming Ripple Swell Event**
XRP price declined by 7.5% this week, defying expectations of a pre-conference rally ahead of Ripple’s highly anticipated Swell event. Historically, the Swell conference has sparked significant price surges for XRP, making the current downtrend notable.
**Bearish Chart Patterns Signal Further Decline**
The recent price action shows XRP forming a rounded top pattern, a bearish indicator suggesting further downside. If key support levels fail to hold, XRP could drop to $2.09, representing a 16% decline from current levels. At the time of writing, XRP is trading around $2.49 after testing support at $2.37. An 8% decrease in trading volume over the past 24 hours indicates weakening buyer conviction.
Technical indicators reinforce the bearish outlook: the relative strength index (RSI) remains below the neutral 50 mark, and the MACD has crossed below its midline. The critical support to watch is the neckline of the rounded top pattern at $2.37; a four-hour candlestick closing below this level may trigger a further sell-off toward the $2.09 target.
Resistance levels include the 50-period simple moving average (SMA) at $2.55 and the 200-period SMA at $2.84. Additionally, continued price rejection at the 20-day exponential moving average (EMA) near $2.53 would signal sustained bearish control and could push prices further down to $2.20 or below.
**Ripple Swell 2025: A Key Event for Crypto and Finance**
Scheduled for November 4-5 in New York, Ripple’s annual Swell conference gathers over 600 attendees from 40 countries. This year’s event highlights the growing intersection between blockchain technology, US regulatory policy, and traditional finance.
Notable participants include White House crypto adviser Patrick Witt, executives from major financial institutions such as BlackRock, Nasdaq, Citi, and BNY Mellon. The agenda emphasizes the XRP Ledger’s (XRPL) compliance with ISO 20022 standards and its potential to tokenize real-world assets (RWAs) and facilitate efficient cross-border payments.
A key session titled “The Impact of Tokenized Financial Assets on Capital Markets” will feature BlackRock’s Director of Digital Assets Maxwell Stein alongside executives from Moody’s and CoinDesk. Additionally, attendees can expect a live demonstration of stablecoin settlements on the XRPL, and keynote speeches from Ripple CEO Brad Garlinghouse and Nasdaq CEO Adena Friedman. These discussions highlight XRP’s potential role as a bridge for institutional liquidity, which could accelerate adoption in treasury management and decentralized finance (DeFi) systems.
**Historical Price Trends Around Swell Conferences**
Past Swell events have often triggered significant short-term rallies in XRP prices:
– In 2017, XRP’s price doubled from $0.20 to over $0.40 ahead of the San Francisco event, fueled by the launch of xRapid.
– The 2018 Toronto conference saw a 50% price increase due to partnership announcements including MoneyGram’s expansion.
– In 2019, XRP gained 32% ahead of the Singapore gathering, buoyed by RBI Governor Raghuram Rajan’s keynote on global remittances.
However, these rallies were frequently followed by substantial corrections—typically around 30%—in classic “sell-the-news” scenarios. More recently, the 2024 Miami Swell event delivered modest 10% gains amid ongoing regulatory uncertainty following the SEC lawsuit.
While some had anticipated the 2025 Swell to spark stronger rallies due to clarified regulatory outlooks after the appeal dismissal, XRP’s price has remained subdued, trading below $3.
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**Disclaimer:**
This article does not constitute investment advice or recommendations. Trading and investing involve risk, and readers should conduct their own research before making financial decisions.
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