Ripple Swell focuses on business as XRP army presence subdued

Ripple Labs hosted its eighth annual Ripple Swell event in Miami, drawing numerous industry players, including market makers and exchanges. 

However, the usual enthusiasm from the XRP (CRYPTO:XRP) community, known as the "XRP army," was notably subdued. 

Ripple CEO Brad Garlinghouse pointed out the contrast between the event’s business-oriented attendees and the passionate online supporters of the XRP token.

XRP, the seventh largest cryptocurrency by market cap, has a strong online presence, recently surpassing 6.75 million media mentions, according to social intelligence platform LunarCrush. 

"Over the years, XRP has seen substantial social growth," said LunarCrush CEO Joe Vezanni, highlighting an increase in community activity, especially since 2021.

Despite this online momentum, the Swell event had a distinct business focus, centering on networking and showcasing Ripple’s technology. 

This shift reflects a broader trend of maturity in the crypto sector, which Bloomberg ETF analyst Eric Balchunas compared to the early days of exchange-traded funds (ETFs). 

As the industry matures, events are becoming more polished, attracting traditional finance professionals who feel increasingly comfortable participating.

Held at the elegant Faena Hotel, the Swell event's dress code restricted casual attire, underscoring its corporate atmosphere. 

The focus on business-to-business interactions marked a shift from more casual, community-driven crypto gatherings, with several attendees noting how LinkedIn, rather than Telegram, was the primary networking tool.

Among the speakers was Adrienne Harris, Superintendent of the New York State Department of Financial Services, who discussed evolving crypto regulations. 

Harris remarked, “The industry is really growing and maturing," and observed increased interest from traditional finance (TradFi) in the sector.

While Ripple’s legal battles with the SEC continue to draw attention, its partnerships and advances in decentralised finance show the company’s aim to solidify its role in global finance. 

At the time of writing, the XRP price was $0.5492.