Ripple CEO Teases “Fun Surprises” at Swell

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Wed, 10/14/2020 - 19:33
Alex Dovbnya
No Swell bump? XRP remains in the red as Ripple CEO Brad Garlinghouse teases "fun surprises"
Ripple CEO Teases “Fun Surprises” at Swell
Cover image via stock.adobe.com
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Ripple CEO Brad Garlinghouse has teased “fun surprises” in his tweet about the commencement of the annual Swell conference:    

“From Toronto to San Francisco, Singapore to virtual -- we have a fantastic lineup of speakers, panels, demos and some fun surprises over the next two days. Swell-o and welcome!”

Ripple has already wrapped up the first day of its Swell conference with one more to go. 

CBDCs, lending, and ODL 

Georgetown law professor Chris Brummer was among the most notable panelists of the first day who discussed central bank digital currencies (CBDCs) together with David Mills of the Federal Reserve Board.

Ripple
Image by @Ripple

According to YouTuber Crypto Eri, Ripple also touched upon its newly launched XRP-based lending product that allows getting on-demand capital to grow with On-Demand Liquidity (ODL) and scale their business globally. It wasn’t mentioned who would act as a provider for wallets.
 
The new lending service reduces approval times to just 24 hours, with rates varying from 4 percent to 12 percent on an APR basis. All loans will be repaid in local currencies instead of XRP.

Ripple has also updated its ODL map that now covers 55 countries and 95 currency pairs. 

Ripple
Image by ripple.com

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XRP refuses to swell  

Swell seems far less grandiose this year since it is a virtual in-house event, and XRP’s performance clearly reflects it.

Both in 2017 and 2018, XRP would see a triple-digit pump in the run-up to the event. The cryptocurrency has barely budged this time, and it’s actually down over almost three percent today. 

XRP
Image by coinmarketcap.com

XRP is currently down 20.11 percent from the start of last year’s Swell conference, according to Messari data.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.