The Ripple Swell conference, scheduled to take place on November 4-5 in New York, is expected to be a significant event in the crypto and traditional finance industries. Despite this, the XRP price has fallen 7.5% since Monday, continuing its prevailing downtrend. This decline is surprising, given that past Swell events have triggered short-term increases in XRP prices, often driven by partnership announcements and hype.
Ripple’s Swell Conference and XRP Price
Ripple’s Swell 2025 is a pivotal meeting on the role of blockchain in regulated finance, attracting over 600 participants from 40 countries, including White House crypto advisor Patrick Witt and executives from BlackRock, Nasdaq, Citi, and BNY Mellon. The agenda highlights the XRP Ledger (XRPL)’s compliance with ISO 20022 standards and its utility in tokenizing real-world assets (RWAs) and facilitating cross-border payments. However, XRP bulls have largely ignored the potential impact of the event, and the price has fallen 7.5% since Monday.
XRP/USD four-hour chart. Source: Cointelegraph/TradingView
XRP Price Analysis
The XRP chart paints a bearish picture on shorter time frames and is trading at $2.49 after testing the $2.37 support level. An 8% drop in volume over the last 24 hours suggests waning buyer confidence. A rounded top pattern on the four-hour chart, formed since October 22, suggests a continuation of the downtrend. The position of the Relative Strength Index below the 50 level and the MACD cross point below the midline indicate further downside.
XRP/USD four-hour chart. Source: Cointelegraph/TradingView
XRP Price Risks a 16% Decline
The bears are now focused on pulling XRP back to the pattern’s neckline at $2.37. A four-hour candlestick decline below this level would pave the way for a further decline towards the rounded top measured target at $2.09, a 16% decline from the current price. The key moving averages acting as resistance are the 50-period SMA (Simple Moving Average) at $2.55 and the 200-period SMA at $2.84.
As Cointelegraph reported, the persistent rejection from the 20-day EMA at $2.53 suggests that bears are in control and risk a decline in XRP to $2.20 or lower. This article does not contain any investment advice or recommendations. Every investment and trading activity involves risks, and readers should conduct their own research when making their decision. For more information, visit https://cointelegraph.com/news/xrp-loses-ground-despite-upcoming-ripple-swell-event?utm_source=rss_feed&utm_medium=rss_category_market-analysis&utm_campaign=rss_partner_inbound
