XRP Increases 5% as Annual Swell Pump Rapidly Approaches

After incurring an influx of selling pressure yesterday, Bitcoin has been able to rise slightly today, which has allowed XRP to increase by almost 5%, which led it to quickly approach the $ 0.30 region that was previously a strong level of support for the cryptocurrency.

Analysts now point out that XRP can significantly increase significantly. Which could be fueled by the enthusiasm surrounding the annual Ripple Swell conference. Which will take place in approximately two weeks.

XRP increases to $ 0.30 as bulls develop strength

At the time of writing this article, XRP is rising almost 5% to its current price of $ 0.297, marking a notable rise in its recent lows of $ 0.24. That wer set at the bottom of the recent short-term bear market that It has taken over the markets since Bitcoin plummeted below $ 10,000.

Before its fall below $ 0.30, XRP had previously established this level as a strong support region, so if you can claim this level, then you can post significantly more earnings.

MoonOverlord, a popular cryptocurrency analyst on Twitter, talked about XRP in a recent tweet, explaining that he believes XRP may have more space to scale in the short term.

"I think $ XRP could have more juice in the tank in this race," he said concisely.
It seems that the upward momentum of XRP is independent of the Bitcoin price action, which could mean that it will continue to rise further as BTC consolidates, except for any major downward movement that generates a massive sale throughout the market.

The Ripple Swell Conference can lead to Pump, claims analyst

Historically, the annual Ripple conference has preceded by Ripple bullfights. Which can be derived from a combination of the publicity surrounding this conference and the possible announcements. That the company can make regarding its XRP-related products.

Galaxy, a popular cryptocurrency analyst on Twitter, talked about this event and the historical manifestations of XRP that usually precede it, explaining that in recent years it has risen to 220% in the weeks leading up to the event.

“The trade of the year is approaching once again with $ XRP. Long 2 weeks before Swell, and short when the event ends. Price increase before the event (USD) + 115% (2017) + 220% (2018). Price decrease after the event (USD) -43% (2017) -51% (2018). It's time to see what this year brings, ”he said.
It is likely that the next few days validate or invalidate if the “expansion pump” is still relevant in the current market conditions, but it is likely that any recovery in the short term may be associated with the historical precedent of this event.