XRP Faces Decline Following Ripple's Swell Event

According to Cointelegraph, XRP experienced a significant drop of over 9% following Ripple's Swell conference, continuing its downward trend in November. The cryptocurrency's price fell to $2.19 after reaching a peak of nearly $2.40 on November 5, despite Ripple's major announcements during the event. The Swell conference, held in New York from November 4 to 5, featured Ripple unveiling a $500 million funding round led by Citadel Securities and Fortress Investment Group, introducing new integrations for its RLUSD stablecoin, and hinting at a decentralized lending protocol on the XRP Ledger (XRPL). However, these announcements failed to sustain the bullish sentiment among XRP investors, reflecting the "buy the rumor, sell the news" phenomenon that has often followed Ripple's annual showcase. For four of the past five years since 2020, XRP has consistently posted negative returns between the Swell event and year-end, indicating that the initial excitement tends to dissipate quickly. Additionally, the recent dip in Bitcoin's price below $100,000 amid equity market weakness and tightening U.S. liquidity has dampened sentiment across altcoins, including XRP. The cryptocurrency's recent breakdown has confirmed a classic bear flag continuation setup, further reinforced by an impending death cross, where the 50-period exponential moving average (EMA) falls below the 200-period EMA. This pattern emerged after XRP's sharp decline from around $3.60 in early September, followed by a narrow consolidation channel slanting upward toward $2.60. The rejection from the flag's upper boundary and the subsequent breach below the lower one suggest that sellers are regaining control. XRP is now facing the possibility of falling toward the $1.65–$1.70 range, aligning with the bear flag's measured move target and April support. This projected downside target closely matches XRP's aggregated realized price, according to Glassnode data. This level represents the average on-chain cost basis across all wallet cohorts, indicating that a retest could mark a key value zone where long-term holders historically accumulate. Such convergence often acts as a psychological and technical support floor, potentially limiting further downside pressure. Readers are reminded that this article does not contain investment advice or recommendations, and every investment and trading move involves risk. It is advised to conduct thorough research before making any financial decisions.