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Ripple (XRP) fell 13% during Swell – Where did it go wrong?

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Ripple (XRP) collapsed during its biggest ever meeting, having been sold for $ 4 billion, despite great news from Ripple Labs and an entire host of A-listers from the world of cryptocurrency and beyond.

The price of the ripple (XRP) hit $ 0.60 on Sunday evening during the race to Swell's conference, but dropped 13% from then to just $ 0.52.

The Ripple & # 39; s Swell conference in San Francisco boasted several prominent speakers including the US economist and Barak Obama advisor Gene Sperling and the former US president Bill Clinton as well as Ripple Labs which has dropped the great news that has signed three companies for its new xRapid service, to allow the cryptocurrency XRP to carry out international transactions in "a matter of minutes."

There was a lot of bullish sentiment for rippling (XRP) going into the& nbsp; Swell conference in San Francisco. (Photo by Omar Marques / SOPA / LightRocket images via Getty Images)

It was the & nbsp;tip teased that banks and financial services companies would soon start using the ripple, the informal name of the XRP digital token, to move money across the borders that has fueled the 100% increase in September – but now that it is It started to happen, it seems that he could not live up to people's expectations.

The three companies – the payment service providers MercuryFX and Cuallix and the cooperative financial company Catalyst Corporate Credit Union – were announced as the first companies to join xRapid by Ripple CEO, Brad Garlinghouse.

At the beginning of the year Garlinghouse boasted that there would be "dozens" of banks using xRapid by the end of 2019. With smaller names MercuryFX, Cuallix and Catalyst Corporate Credit Union first on the list, perhaps investors they hoped that some family names would be among those in the front row to start using the ripple to cross in-line transactions. & nbsp;

Ripple (XRP) went up throughout the month of September but struggled to maintain its gains during the Swell event.CoinDesk

XRP is down 80% from its peak, as most of the major cryptocurrencies re-adjust after the huge "bull" of last year. The price of ripple rose to more than $ 3 last year, up from only $ 0.006 started in 2017. & nbsp;

Now only for & nbsp; above $ 0.50 may have lost his recent & nbsp;fight with ethereum& nbsp; for the second largest market capitalization in the world of cryptography.

Elsewhere, Clinton's keynote speech at last night's conference seems to have fallen into disuse.

In what has been described as a "rambling"speech, the former US leader spoke about migrant children, banning assault weapons, identity politics, the Rwandan genocide, the film" Black Panther, "the Israeli conflict- Palestinian and his new novel, along with what he was commissioned to talk about: how blockchain and crypto will change the banking sector – something that did not seem to have a particularly comfortable seventy-five.

The name of Clinton is certainly still big enough to create titles and capture attention, but Ripple Labs could have inspired more confidence in the main discourse relevant to his proposal.

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Ripple (XRP) collapsed during its biggest ever meeting, having been sold for $ 4 billion, despite the great news from Ripple Labs and a whole host of A-listers from the world of cryptocurrency and not just .

The price of the ripple (XRP) hit $ 0.60 on Sunday evening during the run to the Swell conference, but dropped 13% from then to only $ 0.52.

The Ripple & # 39; s Swell conference in San Francisco boasted leading speakers including the US economist and Barak Obama advisor Gene Sperling and the former US president Bill Clinton, as well as Ripple Labs who He dropped the great news that he signed three companies for his new xRapid service, allowing XRP cryptocurrency to make international transactions in "a matter of minutes".

There was a lot of bullish sentiment for rippling (XRP) going into the Swell conference in San Francisco. (Photo by Omar Marques / SOPA / LightRocket images via Getty Images)

It was the suggestion that banks and financial services companies would soon start using the ripple, the informal name of the XRP digital token, to move money across the borders that has fueled the rise of more than 100% in September – but now that it has begun to happen, it seems to have failed to meet people's expectations.

The three companies – the payment service providers MercuryFX and Cuallix and the cooperative financial company Catalyst Corporate Credit Union – were announced as the first companies to join xRapid by Ripple CEO, Brad Garlinghouse.

At the start of this year Garlinghouse boasted that there would be "dozens" of banks using xRapid by the end of 2019. With smaller MercuryFX, Cuallix and Catalyst Corporate Credit Union names at the top of the list, perhaps investors hoped that some household names would be among those at the front of the queue to start using the ripple for cross-border transactions.

Ripple (XRP) went up throughout the month of September but struggled to maintain its gains during the Swell event.CoinDesk

XRP is down 80% from its peak while most major cryptocurrencies are readjusted after the last bull rush last year. The price of ripple rose to more than $ 3 last year, compared to just $ 0.006 which started in 2017.

A little over $ 0.50 may have lost the recent battle with ethereum for the second largest market capitalization in the cryptographic world.

Elsewhere, Clinton's keynote speech at last night's conference seems to have fallen into disuse.

In what has been described as a "wandering" speech, the former leader of the United States spoke of migrant children, banning assault weapons, identity politics, the Rwandan genocide, the "Black Panther" film, the Israeli-Palestinian conflict and its new novel, all together of what was booked to talk about how the blockchain and the encryption will change the banking sector – something that did not seem to be at ease with the 72-year-old .

The name of Clinton is certainly still big enough to create titles and capture attention, but Ripple Labs could have inspired more confidence in the main discourse relevant to his proposal.

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