Top 2 Ripple news items that affect XRP price this week

The XRP price has faced significant challenges this week as the cryptocurrency community closely monitors two major Ripple-related events. With the highly anticipated Ripple Swell Conference on the horizon and the possibility of a XRP exchange-traded fund (ETF) approval, traders and investors in the Ripple ecosystem are on high alert.

Ripple's biannual Swell event, set to take place in the coming days, has generated considerable buzz and speculation within the cryptocurrency sphere. Investors are closely watching for any announcements or developments from the conference that could impact the value of XRP, the native token of the Ripple network. Given the conference's history of moving XRP prices, the market is bracing for potential volatility.

Adding to the uncertainty surrounding XRP, the ongoing pursuit of a XRP ETF approval has also captured the attention of the crypto community. The prospect of a XRP-based ETF receiving regulatory green light could have far-reaching implications for the token's liquidity and accessibility for mainstream investors. However, the path to ETF approval has proven challenging, with the U.S. Securities and Exchange Commission (SEC) maintaining a cautious stance on cryptocurrency-based investment products.

As the XRP price remains under pressure, investors are closely monitoring these two key events that could significantly influence the token's future performance. The outcome of the Ripple Swell Conference and the potential XRP ETF approval will be closely watched, as they have the potential to either bolster or weigh down the XRP price in the near term.