The month of October this year is crucial for a couple of things – one of which is the upcoming Ripple conference hosted by Ripple Labs, described as the annual gathering of the “world’s most trusted voices across financial services, payments, technology and policy” on many best cryptocurrency news sites.
As you probably know if you are reading our daily crypto news, the conference is named Swell and will be dedicated to the future of the payments industry and will offer a spotlight on Ripple’s native XRP cryptocurrency token. The upcoming Ripple conference, as many times before, will likely lead to a strong pump in the XRP price too, according to many analysts out there.
However, many are asking if the history can repeat – and will repeat this October. Starting in 2017, Ripple Labs has been hosting annual conferences each year named Swell, focused on the payments industry. The voices include many leaders in both the finance and the technology space, speaking about the coming altcoin news, the future of tech, innovation and a lot more topics.
In the previous years, the event has attracted leaders such as Sir Tim Berners-Lee who is seen as the inventor of the World Wide Web (WWW) as well as the former Fed Chairman Dr. Ben Bernanke. The upcoming Ripple conference will gather even more voices and will be an equal opportunity for people who want to learn more about the space – and the investors and traders looking for more insights.
As noted in the latest cryptocurrency news by a crypto analyst named Pierre, the past years have seen as “an easy and profitable long” opportunity as the price rocketed in the days ahead of the event.
Are we going to see a "Sweel Pump by Ripple" this year again?
Was an easy and profitable long last year.
Keeping a close eye on $XRP for the next couple of weeks and months. pic.twitter.com/waPr1LxEgB— Pierre (@pierre_crypt0) September 9, 2019
Still, it is also important to note that the upcoming Ripple conference comes in times of vulnerability for XRP. Historically, the price of XRP has not pumped during the conference itself, but surged as an after effect after the actual event.
With two years of considerable growth, we will wait and see what will the upcoming Ripple conference bring. What traders certainly don’t want to hear is another decline posted by Ripple and its XRP token.
In the latest altcoin news, we can see that XRP is trading at $0.2595 with a decline of 0.92% on the day.
Ripple Price Action Is Positive After Yesterday’s Correction
- Hourly MACD – The MACD for XRP/USD is very slow when moving into the bullish zone.
- Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is above the 50 level, with a positive sentiment now.
- Major Support Levels – $0.2350, $0.2250 and $0.2220.
- Major Resistance Levels – $0.2450, $0.2500 and $0.2540.
Ripple XRP Price Is Primed To Rise Despite Selloff Today
- Hourly MACD – The MACD for XRP/USD is right now showing a lot of bearish signs.
- Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is well below the 40 level at this moment, forming a bearish angle.
- Major Support Levels – $0.2240, $0.2200 and $0.2050.
- Major Resistance Levels – $0.2300, $0.2365 and $0.2450.
MoneyGram And Ripple Extend Their Partnership With $11.3 Million
"MoneyGram continued to expand its strategic partnership with Ripple as the first money transfer company to scale the use of blockchain capabilities."Nothing in the SEC filings state what Ripple's investment will be used for. Still, MoneyGram's agreement with Ripple has previously allowed it to use XRP and its blockchain product named ODL (On-Demand Liquidity) to facilitate cross-border payments.
"[MoneyGram] is compensated by Ripple for developing and bringing liquidity to foreign exchange markets, facilitated by Ripple's blockchain, and providing a reliable level of foreign exchange trading activity. The Company expects that this partnership, at scale, will reduce our working capital needs and generate additional earnings and cash flows."MoneyGram and Ripple already were in a financial tie. The two firms announced their partnership back in January 2018 when MoneyGram decided to integrate XRP into its payment system. In June 2019, we saw that the two firms entered into a partnership to collaborate on cross-border payments and foreign exchange settlements with digital assets. The blockchain news then showed that Ripple followed through with a $50 million investment, completed in November. Despite the close working relationship, not all money transfer methods are being handled by Ripple. Reports recently showed that MoneyGram unveiled FastSend, a service which allows for real-time money sending based on Visa. While Ripple is doing good by expanding its partnerships and actively improving its blockchain, the token is falling down just like many other altcoins. Right now, the Ripple news and XRP updates show that the coin is in a 8.33% decline, going to new levels at $0.2438 in the wake of a major selloff which occurred on the markets overnight. The total cryptocurrency market today is at $261 billion.
XRP Traders Turn Bullish, Price Could Reach $0.46: Analysis
“#Ripple CEO Brad Garlinghouse said that stressing compliance is key to getting bankers on board with #crypto. We don't need bankers to get involved in the crypto. Maybe he and his company do, but the space doesn't. Crypto doesn't need banks, because crypto will replace them.”Brad Garlinghouse was in an interview when he commented that there are too many crypto assets out there. There are about 3,000 different digital assets that are trading on a daily basis.
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