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Ripple’s XRP performed better than the number one cryptocurrency and the rest of the rivals today as the investors anticipated bullish outcomes from the upcoming Ripple event as we reported in the Ripple news before.

The third-largest cryptocurrency by market cap established an intraday high of $0.2936 and the uphill move brought the daily gains up by 5.73 percent. at the same time, Ripple’s XRP performed well by stealing a huge chunk of capital from the Bitcoin market rising up to 5.13 percent against the benchmark cryptocurrency. The XRP to BTC exchange rate established a sessional peak of 3,523 sats. At its lowers in the third quarter, the pair was trading at 2,967 sats and the upside swing in the XRP price closely followed its investment into a mobile wallet provider. The San Francisco-based blockchain company announced that the XSpring platform will pour $750,000 into BRD. This move according to the company will prompt BRD to add support for XRP tokens which will boost the crypto’s adoption.

While the new BRD partnership will offer a perfect excuse for the bulls to open new long positions, the market analyst GalaxyBTC thinks that the jump has more to do with Swell. It was noted that the XRP price jumps every time when Ripple’s conferences take place. for example, the altcoin spiked 115 percent in 2017 and 220 percent this year just two weeks before the Swell event. The XRP rising was just right before the Ripple conference and the same happens now since the conference is scheduled for November 8 and 9 in Singapore. The altcoin surged by 14 percent and in comparison, Bitcoin’s gains this month stand at 0.5 percent.

As per the reports from the cryptocurrency news, GalaxyBTC noted there is an opportunistic trade behavior around the event since XRP did surge before the event but it also fell dramatically after it. The moves showed that the Swell conference turned into a huge opportunity to make money but the downside corrections are always minimal compared to the gains before them. Also, there is a class-action lawsuit against Ripple and the outcome of it could define whether the cryptocurrency is a security or not.