**XRP Price Drops 7.5% Despite Upcoming Ripple Swell Event**
XRP price declined by 7.5% this week, despite the anticipation surrounding Ripple’s upcoming Swell conference—a historically significant event known for sparking pre-conference rallies. The cryptocurrency’s rounded top chart pattern now projects a potential drop to $2.09 if critical support levels fail to hold.
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### Ripple’s Swell 2025: A Key Event for Blockchain and Finance
Scheduled for November 4-5 in New York, Ripple’s annual Swell conference promises one of the strongest intersections of crypto with U.S. policy and traditional finance. The event will attract over 600 attendees from 40 countries, including White House crypto adviser Patrick Witt and executives from major firms such as BlackRock, Nasdaq, Citi, and BNY Mellon.
The agenda highlights the XRP Ledger’s (XRPL) alignment with ISO 20022 standards, focusing on its utility in tokenizing real-world assets (RWAs) and facilitating cross-border payments.
One notable session, “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, live demos of stablecoin settlements on XRPL and keynotes by Ripple CEO Brad Garlinghouse and Nasdaq CEO Adena Friedman will underscore XRP’s potential as a bridge for institutional liquidity. This could accelerate adoption in treasury management and decentralized finance (DeFi) integrations.
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### Historical Performance of XRP Around Swell Events
Swell events have historically triggered short-term XRP price surges, often fueled by partnership announcements and market hype:
– In 2017, ahead of the San Francisco edition, XRP’s price doubled from $0.20 to over $0.40, driven by the launch of xRapid.
– The 2018 Toronto event saw XRP climb 50% in the lead-up, spurred by announcements like MoneyGram’s expansion.
– At the 2019 Singapore gathering, XRP rose 32%, buoyed by RBI Governor Raghuram Rajan’s keynote on global remittances.
However, these rallies were often followed by significant corrections, with a classic “sell-the-news” scenario leading to a 30% price drop post-event.
In 2024, Miami’s Swell event led to modest 10% gains amid regulatory uncertainty due to the SEC overhang. Expectations were high that 2025’s event, coming after regulatory clarity following the dismissal of an appeal, would amplify XRP’s momentum. However, the current price remains muted below $3, contradicting those expectations.
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### XRP Price Risks a Further 16% Decline
From a technical perspective, XRP presents a bearish outlook in the short term. The price is currently trading at $2.49 after testing a key support level at $2.37. Additionally, an 8% decline in trading volume over the past 24 hours signals weakening buyer conviction.
A rounded top pattern, visible on the four-hour chart since October 22, hints at a continuation of the downtrend. The relative strength index (RSI) remains below 50, while the Moving Average Convergence Divergence (MACD) indicator has crossed below its midpoint, both suggesting further downside risk.
Bears are now aiming to push XRP below the neckline of this pattern at $2.37. A decisive four-hour candlestick close below this level could open the door to a drop toward the measured target of the rounded top, near $2.09—a potential 16% decline from the current price.
Key moving averages are acting as resistance levels, with the 50-period simple moving average (SMA) at $2.55 and the 200-period SMA at $2.84. Ongoing rejection from the 20-day exponential moving average (EMA) at $2.53 would further confirm bearish control, increasing the risk of XRP falling to $2.20 or lower.
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*This article is for informational purposes only and does not contain investment advice or recommendations. Every investment and trading move involves risk; readers should conduct their own research before making decisions.*
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