XRP Got Down 16% After Swell Conference: Analysis

XRP got down by 16 percent right after the Swell conference as we are seeing in the XRP news today. What will we see, the continued price fall of XRP or the Ripple’s token can have price recovery?

Ripple’s token did not succeed to grow during the impenitently expected Swell conference this year but instead fall by 16% shortly after the conference. Spreading the loss to around 30% the market price of the Ripple’s token is among the few that marked double-digit drop since the start of this year. Use cases and utility were promised by Ripple but this did not gather trading interest.
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XRP got down and also struggled to hold its price above the $0.30 mark. The conference also did not make any new interest in XRP. The asset’s use case is uncertain at this moment because Ripple Net became the Unified Ripple product where the coin use is not mandatory.

Ripple’s coin is traded on small volumes of about $1.7 billion daily, at $0.27. Some of its support was lost as Korean traders deserted highly active speculation, and the asset was left to look for new markets. In the past year, XRP also had periods of relatively no price growth.  In the past XRP had grown miraculously from sub-penny prices, causing a huge commotion. The XRP community is strong like it was never before and bizarre forecasts are made on social media.

One of the biggest problems of the XRP’s future price prospects is the potential of having big dumps on the markets. Another reason for the failure of XRP was that all the attention was put on Stellar (XLM), which had fast growth to $0.083. There was also the burning of 55 million tokens by the Stellar Development Foundation with the foal of decreasing inflation of XLM production, and setting a fixed supply for the coin.

Bullish recovery is in the realm of possibility, whilst XRP is in a relatively short-term price drop. A $0.30 price range is possible for XRP has shown even after more instantaneous falls. The price levels for altcoins in this time are expressing shocking stability even without an outright “altcoin season”. Possible there are reasons to buy the token at a low price.