XRP seems to increase its value right before the commencement of the annual 2019 Swell Conference.
The price of the coin has been trading between $0.20 – $0.28 mark and it has increased by 26% change in 24 hours.
XRP price has increased right before the start of the annual Swell Conference and the coin showed the same performance last year (2018) and the year before (2017). The value of the coin will further go high in the upcoming weeks before the start of the event.
Swell Conference 2019
Swell conference is the annual conference in the blockchain industry that brings together the experts for policy, payments, and technology. It is hosted by Ripple’s company and its main focus is on the technology and policies of Ripple.
The conference is supposed to start on 7th Nov 2019 and will remain to continue for three days in Singapore.
The important point to discuss here is that the coin price increase every year in anticipation of this conference. But after this conference, it starts to decrease down.
GalaxyBTC Call it as “The trade of the year”
GalaxyBTC who is a crypto trader says that the price of the coin goes high two weeks before the start of the Swell event and decreases down after the event is over.
He calls it the trade of the year and says that this trade of the year is coming again. He also presents the chart in the tweet supporting his argument.
The trade of the year is coming once again on $XRP.
Long 2 weeks before Swell, and short when the event is over.
Price increase before event (USD)
+115% (2017)
+220% (2018)Price decrease after event (USD)
-43% (2017)
-51% (2018)Time to see what this year brings. pic.twitter.com/bW9qKUGv8Y
— Galaxy (@galaxyBTC) October 13, 2019
The point he wants to clear here is that the price increase before the event and falls after it.
Swell conference may help XRP to Surge
The price is currently trading below the $0.30 mark and is struggling to get above this figure. The event of the Swell conference may prove helpful for the coin in this matter.
XRP is expected to jump from $0.29 to $0.50 mark as its price always raises up in anticipation of the Swell Conference. So there are still remaining two weeks at the start of the event and analysts are hoping that the value of the token will increase in these weeks.
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