Ripple’s XRP Slumps Despite Swell Conference

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The Swell conference on November 7-8 was supposed to trigger a long-awaited rally in XRP prices. The annual Ripple event, however, not only failed to lift the asset from its lows, but actually was followed by a sell-off.XRP lost around 3.14% overnight, sliding from its usual tier of $0.29 down to $0.28. Not a big change, seemingly, but the slump coincided with another downturn in the markets as well. This month, XRP may have been pressured by another 600 million coins from the Ripple escrow remaining at large.Ripple unlocked its usual 1 billion XRP, returning 400,000 back to the locked stash. But the rest of the coins was added to the circulating supply.Another blow on Ripple’s influence was the fact that Stellar, the open-source equivalent, staged its own events for this week. Stellar Meridian, the first of hopefully a series of conferences, happened just days before Ripple’s event.To add to…

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