What to Know:
- XRP’s price has decreased this week, despite the upcoming Ripple Swell event, which has often led to pre-conference rallies in the past.
- The Swell conference will feature discussions related to crypto policy and traditional finance, with speakers from the White House, BlackRock, Nasdaq, Citi, and BNY Mellon.
- A bearish chart pattern suggests XRP could decline to $2.09 if it fails to maintain current support levels.
The price of XRP is currently facing downward pressure, despite the anticipation surrounding Ripple’s annual Swell conference. This year’s event promises to be a significant intersection of crypto, U.S. policy, and traditional finance. Technical analysis suggests that XRP risks a further price decline if key support levels are breached.
Ripple’s Swell 2025 is set to host over 600 attendees from 40 countries, including White House crypto advisor Patrick Witt, and executives from major financial institutions. The agenda will highlight the XRP Ledger’s alignment with ISO 20022 standards. Discussions will also focus on its utility in tokenizing real-world assets and facilitating cross-border payments.
We’re excited to welcome @patrickjwitt from the White House’s Digital Assets Council to our keynote speaker lineup at Ripple Swell 2025.
This is a conversation you can’t miss.
LAST CHANCE: The deadline to request your invitation to attend is tomorrow, October 24th.
Join us in… pic.twitter.com/8n3s70tdSU
Historically, Ripple’s Swell events have catalyzed short-term rallies in XRP prices, driven by partnership announcements and general market excitement. While past events have correlated with temporary price increases, this year, XRP’s price has remained muted below $3, trading at $2.49 after testing the $2.37 support level. A bearish rounding top pattern suggests a potential drop to $2.09 if the $2.37 support level is breached.
As Ripple’s Swell conference approaches, market participants will closely monitor XRP’s price action and any announcements that could influence its trajectory. While the technical indicators suggest a potential downside risk, the fundamental developments and discussions at Swell could provide a counter-narrative.
Source: Original article
