If good news comes from the Ripple Swell event, the price of XRP could skyrocket, says an experienced market analyst. Ripple’s own XRP coin is now slowly recovering after a heavy crash in the crypto market mid-week.
The price fell to $2.32 twice, which was the lowest point of the quarter. Now XRP is trading around the $2.50 resistance level, after Jerome Powell’s FED rate announcement.
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Mega Update Dropped On Ripple Swell?
The XRP Army is most excited about the upcoming Ripple Swell conference, which will be held in New York next month. This annual event will take place on November 4th and 5th, where Ripple shares its new technology updates every year. This time, experts are expecting a major update on Ripple sidechains.
This also matches the analysis of a popular technical analyst named Chart Nerd. He says that sidechain adoption in the XRP Ledger could take the long-term price target to $8. However, XRP will need to break the resistance zones of $2.53 and $2.59, just as it did during the 2017 bull run.
What Catalysts Could Send XRP Price To $8?
The Ripple Swell Conference in New York will be attended by prominent figures from the financial world, including those from BlackRock. The main topic of this event will be Real World Asset tokenization. Speakers will also discuss ISO 20022, stablecoin rules, and XRP Ledger sidechains.
XRP’s charts are looking good in the long run, as the price is showing slow and steady growth. If good news about XRP Ledger adoption is received at the Ripple Swell Conference, XRP could return to its high of $3.65. Major investors are also now taking a greater interest in XRP, and everyone’s attention is focused on SWIFT testing and ETF approvals.
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People Also Ask – Ripple Swell:
Q: What is the Swell Sneak Peek about?
It’s about any new updates or announcements coming from Ripple’s Swell conference that could impact XRP’s price.
Q: Why is XRP’s $8 target being mentioned?
The $8 target is an estimate, set in the hope that Ripple’s updates could increase XRP’s value, such as new features, partnerships, or clearer rules.
Q: What does ChartNerdTA’s analysis show?
ChartNerdTA’s charts are showing a positive pattern for XRP. If both the market and Ripple receive positive news, XRP could break out to $8.
Q: How could Ripple’s update impact the price of XRP?
If the update brings positive developments, such as new features, approvals, or major partnerships, demand for XRP will increase, and the price could rise.
Q: What should XRP investors pay attention to during the swell?
Investors should pay attention to updates to the XRP Ledger, regulation news, and partnerships, as these could all drive price movements, especially if ChartNerdTA’s analysis turns out to be correct.
