Ripple (XRP) investors were hoping for some major news at the “Swell: The Future Is Here” event, hosted by Ripple in Toronto from October 16-18. The announcement left investors unsatisfied and the price plunged soon after it had been made. In expectation of the big news, the ripple price jumped to almost $0.29 some days prior to the event.

Two months ago, a similar phenomenon took place when investors were bullish on XRP on rumours of a major announcement prior to a conference. The hype ignited by tweets posted on the official page, led to a rally of XRP, but the announcement didn’t live up to expectations and the ripple price backed down significantly.