Ripple price loses 21% in 5 hours

Ripple cryptocurrency price decreases 21% as the announcement doesn't live up to the traders' expectations
25 August 2017   1103

The Ripple cryptocurrency price had on surge this week, rising 89% from August 21-23. This surge was accompanied by a dramatic increase in trading volume (it exceeded $2.3 billion), primarily on South Korean exchanges.

It is believed, that such a surge had something to do with the rumours about Korean market showing interest in the cryptocurrency. Thus, the rumours have begun on the company’s social media. Ripple was about to announce a major partnership with a bank or corporation, most likely in Asia.

As shown, the rumours were based on the fact that Ripple’s Twitter page has been teasing out an announcement about their upcoming conference with a multi-day countdown. Some Twitter users noticed that a geometric resemblance between the shape in the tweet and the Korean subcontinent.

However, the Ripple price began to sink on Thursday after the announcement did not live up to investor expectations.

It goes without saying that the users were quite disappointed:

The price had gradually risen in the hours leading up to the announcement. At 14:00 UTC, the Ripple price was $0.289. Within an hour, it had dropped to $0.262, and it has continued to fall from there to $0.229, which is a 21% decrease from its pre-announcement-level.

Ripple charts on coinmarketcap.com Ripple charts on coinmarketcap.com

At the time of writing, Ripple's price is about $0.228, it has a market cap of $8.5 billion, which is about $1.9 billion less than 3rd-ranked Bitcoin Cash.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   226

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.