XRP, the native Crypto Currency used on the Ripple network today rose by 5% despite Bitcoin falling by almost 2%.
The reason for the rise in price could be linked to the upcoming ‘Swell’ conference that is due to take place in Toronto on 16-18 October 2017.
The event, which is invitation only, will include prominent speakers such as, Dr. Ben Bernanke, Chariman of the Federal Reserve System (2006-2014) and Sir Tim Berners-Lee, the inventor of the World Wide Web. There will also be speakers from various Banks and Ripple itself.
The event is set to address the current problems in the global payment system and how Ripple plans to change the future of payments using its protocol.
It certainly is a good time to keep an eye on Ripple and XRP. It appears that many Crypto Currency investors are still unsure as to how Ripple functions. The Swell conference is likely to give everyone a much clearer insight.
XRP is currently trading at around 21cents per coin. We expect to see volatility in the price up to the time of the conference, with the price potentially increasing significantly should the conference go well.
We are not investment or financial advisors and are here to provide news and our opinions. Please be fully informed regarding the risks and costs associated with trading the financial markets and the Cryptocurrency market, it is one of the riskiest investment forms possible.