Ripple’s XRP Is Hesitant To Rally Despite Swell Conference

Despite the expectations that the Ripple’s token XRP will have a price increase because of the Swell conference in the first half of November, the token remains stagnant. Ripple’s XPR  is hesitant and is close to $0.29 in spite of the certain social media interest about token as we are reading in the XRP news today.

Having the failing of XRP’s price to come around $0.47 which is its yearly peak and right now being below the price’s of January around $0.36, there are strange price predictions that escort the Swell conference.

The ascent of XRP is expected by some in the crypto community that will result in a similar case like the Legacy Financial Systems. There are some predictions that the token will be a leading currency, which is uncommon under the circumstances.

Bitcoin was weak this weekend, while XRP’s behavior is usual for an altcoin for the time being. XRP has come to the point to have $1.4 billion volume in 24 hours which is low even for boring crypto as Litecoin (LTC) has maintained to keep its volumes above $3.2 billion.

Even the surge in transactions that Ripple’s digital asset had in the last decade of October that went from 720.000 transactions per day to above 1.6 billion transactions did not manage to raise the price.  For the time being the transaction activity is high in the last three months. But the Swell conference of Ripple may cause this with its strenuous activity. Though the cause is unknown the transactions linger around three-month high.

The escrow sales that are made every month may be another reason for why Ripple’s XRP is hesitant to spike. After taking out 1 billion coins Ripple returned 400 million to escrow. On average 200 million coins are spent or sold each month by the US-based technology company.

In addition, this is the reason for the great scatteredness of XRP’s price performance. The trading on new crypto-to-crypto exchanges, in USDT pairings of the Ripple’s token, is what the data shows.  So falling of the price may be a consequence of the absence of concentration in one exchange.

The purchase of MoneyGram by the US-based technology company did not result in a rise in the value of XRP. Being far behind the top 10 coins by gains, XRP has the weakest accomplishment in 2019.