Swell is a major global event focusing on international payments. It is a yearly conference that cryptocurrency exchange, Ripple, organized.
With this most-attended gathering happening soon, bullish investors have expressed their perspectives.
They noted the recognizable impact Swell has on the trading prices of cryptocurrencies, mainly Ripple’s virtual token, the XRP.
Galaxy, who owns the Twitter handle, @galaxyBTC, is one of the cryptocurrency traders who shared his observation.
In an October 13 tweet, the XRP enthusiast relayed that the trading price of Ripple’s virtual currency usually climbs before the Swell congress, then, it drops right after its conclusion.
Galaxy’s tweet included figures showing trading price increases of XRP before the global payments gathering, rising by 115 percent in 2017, and 220 percent in 2018.
These costs denominated in US dollars also came with the trading price decreases after the Swell forum.
Galaxy cited that, when the Ripple-organized event concluded, there was a 43-percent decline in XRP’s trading price in 2017 and a 51-percent drop in 2018.
Another cryptocurrency trader named CryptoBull, who goes by the Twitter handle, @CryptoBull2020, also shared his bullish forecast for Ripple’s digital token.
He posted a screenshot of an XRP chart that he took from Trading View. CryptoBull predicted that the XRP quotes are about to repeat the same pattern that it demonstrated in 2017.
His Twitter message, dated October 15, also involved him advising his audiences on the popular social media website not to miss out on what he believes is a 5,000-percent XRP trading price surge in the coming few weeks.
As per its official website, Swell is hosted by Ripple, and it gathers together the most trusted experts from around the globe.
These people hail from the payments, financial policy, technology, and financial services sector.
They share the latest developments in the international payments realm today and provide their insights on the importance of these events.
Every time the Swell event approaches, several cryptocurrency experts and traders share their views about the impact of the gathering on the virtual currency world.
These digital currency traders look back at the previous years.
They refer to relevant charts and graphs and share their thoughts on how the trading price of a particular currency will perform.
They view that it would either record a considerable increase, or it will decline.
Cryptocurrency traders and experts commonly employ popular social media websites like Twitter to voice out their perspectives.
They also perform this measure to get pertinent insights from their fellow cryptocurrency aficionados.
The comment thread of their social media messages would usually lead to a collection of mixed opinions.
For instance, XRP community members would express the same bullish sentiments as the cryptocurrency enthusiast who posted positive insights about Ripple’s virtual token.
On the other hand, there would also be critics and pundits who would express their doubts about the expected surge in the trading price of the cryptocurrency.
These social media interactions of cryptocurrency enthusiasts make the industry an exciting field.
Plus, it also helps in encouraging more backers to support a specific virtual currency.