This coming October, Ripple Labs will host its annual gathering of the “world’s most trusted voices across financial services, payments, technology and policy” to discuss the future of the payments industry and put a spotlight on their native XRP crypto token.
In the past, the recurring conference has led to strong pumps in XRP price and with the event on the horizon once again, crypto analysts are beginning to anticipate yet another strong rise in the asset’s price coinciding with the event.
Related Reading | Crypto Analyst Says XRP Fireworks Are Coming After Bounce From 2014 Support The event provides Ripple and anyone involved with the project with important networking opportunities, education, discussion, and much more, and is vital towards pushing adoption of Ripple’s products and use of the XRP token.
But it’s also an opportunity for crypto investors and traders, who are seeking to take advantage of any news-related price swings that could cause the price to live up to the event’s namesake.
As noted by crypto analyst Pierre, past year’s have provided “an easy and profitable long” opportunity as the price rocketed in the days ahead of the event.
Instead, it acts as a sell the news event, with XRP price being marked up the month prior, then during and after the event, price tends to retrace back down to previous levels.
In 2017, the Swell pump fizzled out, but news coming from the event and bullish momentum surrounding the crypto industry led to XRP pumping from 20 cents, to its all-time high above $3.