XRP Price Keeps Falling as Ripple’s Swell Conference Hype Runs Dry

XRP slipped 7.5% this week ahead of Ripple’s Swell conference. Charts point to a possible drop to $2 if the event fails to give investors a stronger reason to buy back in.

Ripple’s big week isn’t starting off the way investors hoped. Despite the excitement around its annual Swell conference set for Nov. 4 and 5 in New York, XRP (XRP-USD) has been sinking. The token has dropped 7.5% this week, extending a steady downtrend even as Ripple prepares to host some of the biggest names in finance and policy.

XRP is currently trading around $2.49, falling from recent highs near $3. The weakness comes as traders lose faith that Swell will deliver the kind of excitement or announcements that once triggered pre-event rallies.

What’s Different This Time

Ripple’s Swell conference has a strong lineup this year, featuring White House crypto adviser Patrick Witt and executives from BlackRock (BLK), Nasdaq (NDAQ), Citi (C), and BNY Mellon (BNY). Key sessions will focus on tokenized assets, cross-border payments, and stablecoin settlements on the XRP Ledger (XRPL). CEO Brad Garlinghouse and Nasdaq’s Adena Friedman will headline the event.

On paper, that is the kind of agenda that used to move markets. In the past, Swell weeks brought big short-term surges for XRP, like in 2017, when the price doubled ahead of the San Francisco event, or 2018, when it spiked 50% before Toronto.

This year, investor sentiment feels different. The market seems tired of waiting for new partnerships or adoption stories to show up in the charts. Even with improved regulatory clarity after Ripple’s courtroom wins, traders appear more cautious than excited.

Technicals Tell a Bearish Story

On the charts, things do not look great either. XRP has formed a rounded top pattern since late October, suggesting more downside ahead. The price recently tested $2.37, a key neckline level, and a confirmed drop below it could open the door to $2.09, a 16% fall from current levels.

Volume has also dipped about 8% in the past 24 hours, showing weaker buyer interest. Both the RSI and MACD indicators are flashing bearish signals, while XRP remains capped under its 50-day SMA at $2.55 and 200-day SMA at $2.84.

In short, the bulls seem exhausted.

What’s Next for XRP

If Ripple’s Swell delivers real news, such as new institutional partnerships or clear progress on tokenized finance, the price could bounce again. If not, XRP may keep sliding toward the lower $2 range as traders sell early and wait on the sidelines.

Either way, all eyes will be on New York next week to see whether Ripple can bring back some of its old momentum or if Swell ends up being another quiet chapter for XRP.

At the time of writing, XRP is sitting at $2.5393.