Ripple Swell 2018 was not meant to boost XRP Price
On September 30th, we published an article stating that the Swell conference was not meant to boost the XRP price. The event had no impact on price but instead resulted in widespread disappointment for everyone who bought XRP at a high price and waiting for a blast.
Grad Garlinhouse is the CEO of Ripple and not XRP
That is true. Ripple as a company has no responsibility to boost the price of XRP.
Starting to look like that. @bgarlinghouse really screwed this conference up. Bit of a mess with no real news. He’s starting to look like a joke CEO in my opinion.
— BloodyBlu (@BloodyBluBlog) October 2, 2018
Yeah, I think you have missed the point. @bgarlinghouse is not the CEO of $xrp. He is the CEO of @Ripple. His, the company’s and #swellbyripple‘s success is not measured by the $xrp price, it is measured by the adoption of FI’s using RippleNet. Everything else follows.
— Mark Lampard (@markalampard) October 3, 2018
Was the Price Pump a Market Manipulation?
Yes, the price pump could be just a market manipulation. The launch of xRapid was over-hyped according to some enthusiasts on Twitter and the event #SwellByRipple too hyped, according to them.
XRP was pumped up before #SWELLbyRipple four days in a row around 6am EST
One of two things:
1. xRapid tests
2. Market manipulation
Look at the price in about 2 weeks and you’ll know for sure which one it was. #xrpthestandard
— Coin Carter (@CoinCarter) October 3, 2018
Is the Price of XRP going to fall back to $0.326?
As soon as the Swell Conference commenced, the XRP price began to fall. The market will test the recent support level of $0.502 and possibilities are that if this level is broken, XRP could have a bear run taking XRP back to $0.326 from where the rally started 2 weeks back.
— Signal pumper (@pumper_signal) October 3, 2018
Is everyone selling XRP?
Sell the news!!! This is what’s happening now. It’s so annoying to see XRP drop so hard and breaking every single support level that easy! People don’t care about technologies…money money money
— PositiveSam (@PositiveSam999) October 3, 2018
XRP seems to be breaking some support levels, but the major support level of $0.502 is not yet broken.
The market could crash but XRP price and Ripple’s advancements should not be correlated. Ripple as a company will continue to make advancements and launch xRapid with more partners. It is just a start and 3 companies using it is not a real price-pump deal for XRP.
Let us know your opinion on the matter. Are you going short on XRP? Have you already taken your profits? What did you do during the 2-day event? Did you wait for a bull rally like most? Comment below.