XRP fell 7.5% before the Swell conference: BlackRock is here, yet the price dropped? There's something fishy here.

Something strange has happened. The Ripple Swell conference is underway, and financial giants like BlackRock, Nasdaq, Citi, and BNY Mellon are all present, yet XRP has fallen 7.5% this week. In previous years, the Swell conference has always been a signal for coin prices to da moon, so why is it operating in reverse this time?

The big shots are all here, why is no one buying?

The lineup for this Swell event is truly luxurious—crypto advisors from the White House and executives from top global financial institutions gathered together, with the core topics being the integration of XRPL into traditional finance (ISO 20022 standard, RWA tokenization). Historically, such positive news has been able to drive XRP up by over 50%.

But this time the reaction is like everyone is watching a concert but no one is applauding.

The chart has issued a warning

The technical aspect is already very clear:

• Rounded Top pattern appears, which is a signal of recession.
• Key support level $2.37 has been touched multiple times, if broken, the target aims directly at $2.09 (fall 16%)
• RSI and MACD indicators all enter dangerous territory
• Trading volume dried up, with severely insufficient buying pressure.

This is not a technical adjustment; this is a bearish signal flashing red.

What is the market really thinking?

Ripple won the lawsuit against the SEC, significantly reducing regulatory risks — logically, this should be very good news. But the market's reaction is chillingly indifferent, indicating one issue: paper promises are no longer enough; the market wants to see real applications with tangible results.

Large investors are no longer paying for “future stories”; what they want is banks currently using XRPL for cross-border payments, assets being tokenized on-chain right now.

Is this the eve of “sell the news”?

The key question is: Will the Swell conference bring enough concrete adoption progress to restart buying pressure? Or will this conference just be another “sounds great” speech, followed by a continued market fall?

Hold firmly at $2.37, and there is still a chance for a rebound. Once it breaks down, be prepared for a 16% fall.