The Ripple & # 39; s Swell conference – currently underway this week in a San Francisco event space – fits the established pattern of blockchain and cryptocurrency events. The celebrities offer the glitz and glamor and the cryptic companies finance the holidays.
Today (1 October) was former US president Bill Clinton speaking in his characteristic southern accent on the importance of blockchain technology. Tonight, he shows Counting Crows. At Ripple's May event, it was Snoop Dogg.
Splashy events not only elevate society, however. In addition, the cryptographic token of Ripple, XRP, has increased, the price of which has soared in recent weeks.
As Ripple invokes a disinterested user of XRP, the company is doing a lot of things to draw attention to the controversial digital resource. As the largest XRP token holder, which maintains in a huge escrow reserve, Ripple is a defendant in class action lawsuits on whether the XRP should be regulated as a security (control and ownership of the apparently XRP apparently centralized could influence the outcome of the case). In the month before Swell, XRP has more than doubled in value and at some point, XRP has even briefly overtaken the market capitalization of ethereum, an important rival token.
Along with the conference, the rise of XRP may be due to speculation about an upcoming live product. The CEO of Ripple, Brad Garlinghouse, denies that the company's statements they have had an impact on the XRP price though. Speaking with Quartz September 28, he noted that the price jump occurred a few days (rather than hours) after the company hinted at the expansion. Now, XRP claims a market capitalization of $ 21 billion, as the circulating XRP tokens are traded at $ 0.55 each.