XRP Price Continues Blood Loss: $ 4 Billion Flew!

The blood loss experienced by the XRP price continues at full speed.

XRP, the third largest cryptocurrency by total market cap, saw the bottom with news from the US. It seems that XRP price has declined more than 17% in the last 24 hours and has declined to $ 0.46. XRP, which has experienced a slight recovery in the last 7 hours, has reached the point of $ 0.48, but the loss is very, very big.

XRP Loses $ 4 Billion With Lawsuit News

XRP has lost nearly $ 4 billion in total market value in the last 24 hours alone, with the news of a possible lawsuit from the US. With a total market cap loss of $ 4 billion, Tether, right behind XRP, seems to have fallen very close to the total market value. As can be expected, this poses a great risk for XRP.

The fact that XRP is very close to Tether, the fourth largest cryptocurrency by total market cap, increases the risk of it being retaken. When something similar happened in mid-2020, and XRP fell to fourth place in terms of total market capitalization, Tether took third place for months.

Does Ripple Have a Plan B?

So what can Ripple do in such a situation and how can it survive? In fact, it is known that Ripple does not have a large user base in the USA. CEO Garlinghouse previously stated that only 5% of XRP investors are in the US.

In the continuation of this statement, Garlinghouse signaled that they could move to other countries due to the regulation uncertainty in the USA. As can be guessed, Japan was the closest to Ripple among these countries. Japan's financial regulator even made a decision that XRP is not a security.

Moving Ripple Could Work

If Ripple decides to leave the US and move to Japan after a SEC lawsuit, this could minimize the damage for XRP. Still, there is a chance that the XRP price could be adversely affected by a possible SEC lawsuit.

Although there are not many XRP users actively in the US, a significant portion of the corporate names that Ripple has partnered with have transactions related to the USA. This indicates that the decision of the SEC is becoming more important than ever.

Although no lawsuits have yet been filed against XRP and Ripple by the SEC, it is considered certain that the lawsuit will be filed, and its finalization could lead to a sharp decline for the XRP price .

Last Minute For XRP: Ripple CEO Announces, XRP Price Crashed!

SEC case is coming to Ripple!

Ripple (XRP), the third largest cryptocurrency by total market cap, has dropped 16% as of the time of this writing and continues to decline. Behind this drop in the XRP price are both Bitcoin's general correction and the Ripple CEO's lawsuit statement.

Lawsuit against XRP and Ripple

According to the information provided by Fortune, Ripple CEO Brad Garlinghouse and other co-founder Chris Larsen will be sued directly by the US securities regulator SEC. Ripple CEO Garlinghouse said in a statement on the matter that SEC Chairman Jay Clayton was "shamefully prepared to sue them."

Garlinghouse emphasizes that the SEC will sue Ripple prior to the presidents' transition and will leave all paperwork to the new president. Making a statement on the subject on Twitter, Ripple's CEO stated that this will be the last move of Jay Clayton, who is still SEC Chairman.

SEC Wages War on Innovation

The famous CEO stated that the US is trying to "choose winning projects and restrict innovation", adding that this is exactly the purpose of the SEC. Emphasizing that Ripple will continue to use XRP, Garlinghouse stated that it is the best digital asset for payments, thanks to its speed, transaction fee and scalability.

It is known that the SEC has always won against the crypto money projects that it has sued before and came out as the winning party in the lawsuits. So what exactly does the SEC's lawsuit against Ripple mean?

Ripple (XRP) Price Prediction: Will Trouble End For XRP?

XRP price continues to melt against Bitcoin.

Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.

XRP Price Continues To Fall

Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost 1 week, XRP is unable to test even the all-time record, even the weekly high.

When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.

The Fall of XRP Could Be Very Hard

In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.

XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance not being overcome. Currently, the XRP price seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it can cause $ 0.78 to be seen suddenly.

The Ascension Can Be Fierce

The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.

Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.

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Ripple (XRP) Price Prediction: Will Trouble End For XRP?

XRP price continues to melt against Bitcoin.

Although XRP, the third largest cryptocurrency by total market capitalization, reached up to $ 0.77 before Bitcoin's rally and attracted the attention of all cryptocurrency investors, it is now far, far away from that level. XRP, which is expected to go up to $ 1 in a possible altcoin rally, is trading at $ 0.58 at the time of this writing.

XRP Price Continues To Fall

Although the airdrop by the Flare Network certainly excites XRP investors, this excitement seems to be over quickly. While the Bitcoin price climbs up to $ 24,175 against the US dollar and refreshes its record 5-6 times in almost a week, XRP is unable to test even the weekly high, let alone the all-time record.

When looking at XRP / USD technical analysis , it is seen that the price is literally stuck at $ 0.60. Unless the XRP price breaks the $ 0.60 resistance, it floats towards the support points below and the non-existent buying pressure fades away. The price of XRP is likely to decline to the level of 16522 SATS against Bitcoin, which equates to $ 0.45 against the US dollar.

The Fall of XRP Could Be Very Hard

In the technical analysis of the XRP price , it is seen that the main support points are very low at $ 0.28, $ 0.26 and $ 0.24. Resistance points are much closer to XRP price and are located at $ 0.78, $ 0.80 and $ 0.82.

XRP, which has recently been on the rise, fell to its previous point on December 16 due to the $ 0.60 resistance. Currently, the price of XRP seems to fluctuate between $ 0.54 and $ 0.60. If the XRP price breaks $ 0.60 and closes daily, it may cause $ 0.78 to be seen at a time.

The Ascension Can Be Fierce

The big green candle, which came with the bullish trend on November 24, tested the 61.8% Fibo point. If there is a break and the continuation of this candle, even the $ 0.78 level is not enough to stop XRP and a rise to the 1.618 Fibo point, or $ 1, can be experienced.

Looking at the 4-hour Ripple price chart, it is seen that the downtrend that emerged on December 15 is still effective. If Bitcoin's rise stops and altcoins take action, XRP will also reverse the trend. With the XRP price reversing the trend, its target is seen at $ 0.80 to $ 1.

Altcoin Rally To Begin, XRP To Reach $ 1, According To Master Analyst

A cryptocurrency analyst who predicted the major collapse of Bitcoin (BTC) at around $ 4,000 earlier this year says a major altcoin rally is approaching.

The anonymous analyst, known as il Capo Of Crypto, shared his predictions of Bitcoin 's market dominance to 29,000 Twitter followers . The analyst used the following statements:

“I think Bitcoin dominance will drop to 50% in the coming weeks. That means GREAT altcoin season. "

The analyst sees XRP as one of the main altcoins he is particularly considering. He says that the third largest cryptocurrency experienced a clean break in a symmetrical triangle that formed when it hit a last year's high of $ 0.76. In a few weeks, he predicts that XRP will be at $ 1.00 and experience a return to an all-time high when it breaks the historical resistance of $ 1.18.

The analyst's latest chart shows that XRP returned to its all-time high of $ 2.80 in May of next year.

The trader also continues the bullish sentiment in Bitcoin after the massive rally that hit an all-time high of $ 23,642.

"If BTC continues to follow this path, we will not see under $ 20,000 again."

In the short term, Capo believes BTC can fix the $ 22,000 low region before rising to $ 24,750.

XRP Coin Chart: With Ripple Price Increase, There Was An Explosion In Transaction Volume!

The rise in the price of Ripple has increased the transaction volume and thus the demand for XRP has also increased.

We wouldn't be wrong if we stated that XRP, the third largest cryptocurrency by market value, has revived as of yesterday. XRP, which started its own bull run with Bitcoin's (BTC) rally, is trading at $ 0.58 at the time of writing. However, it rose as high as $ 0.65 before XRP experienced a pullback.

Ripple Price Rising

According to the resulting tables, when the price of XRP rose from $ 20,000 to $ 23,800 a night, it was locked in the price of the leading cryptocurrency and Ripple went up with BTC. In addition to the price increase, Ripple's market value increased, just like Bitcoin, and rose to over $ 29 billion.

In addition to Ripple, there was an increase in almost all altcoins yesterday. However, XRP seems to have the best performance among the top ten cryptocurrencies, especially in terms of market volume. In addition, The Graph (GRT), which Binance and Coinbase listed at the same time, suddenly experienced a serious rise last night . As soon as the GRT was launched, it reached a total market value of $ 175 million, ahead of many cryptocurrencies.

Mixed Price Movements of XRP

In fact, when looking at the table for the last month, it is seen that Ripple did not draw a very clear picture and even has a mixed graphic. Ripple price, which was in the $ 0.27 band on November 15, almost took flight after the upward trend in the market and the Spark airdrop announcement, and the price saw $ 0.78 on November 24.

Then the Spark airdrop excitement faded and a new consolidation process began in the market. Interestingly, XRP declined at the same time as it rose. Although lows of $ 0.27 were not seen, there was a retracement to $ 0.43.

However, as we mentioned above, XRP has locked into BTC with the latest price movements and has started to rise. As XRP moves with Bitcon, it is currently thought that the price of Ripple will be determined by the movements of BTC.

Huge Increase in Ripple Transaction Volume

According to CoinMarketCap, during the recession period before the rally, the 24-hour trading volume of XRP was worth approximately $ 10 billion. However, after the rally, it is seen that this figure almost doubled to $ 19.2 billion. This shows that the demand for XRP has increased with the price movements in the market .

Nevertheless, it should be noted that the volume seen when XRP reached $ 0.78, the peak of 2020, was in the $ 33 billion band, and the current figure is well below this level.

XRP Price Analysis: The Uptrend Is Accelerating, What Are The Next Levels?

XRP has reduced its losses following Bitcoin's rise against the US Dollar. XRP price has gained 23% in the last 24 hours and is currently trading well above the $ 0.5500 resistance level. According to Aayush Jindal's technical analysis: 

XRP started a strong increase from the $ 0.4350 support zone against the US Dollar.

The price is currently trading well above $ 0.5200 and the 100 simple moving average (4 hours).

There was a break above a critical bearish channel with resistance near $ 0.5300 on the 4-hour chart of the XRP / USD pair (based on Kraken data).

The pair is gaining momentum and it seems the bulls are aiming to test the $ 0.6000 resistance zone.

XRP Price Gains Upward Acceleration

Yesterday, XRP price had a bad drop below $ 0.4500 and the price fell as low as $ 0.4352. But then began a new rise. As with Bitcoin , Ethereum and XRP also experienced a sharp rise.

Bulls took over the cryptocurrency market and XRP climbed above the $ 0.5000 resistance level. The upward move caused the price to rise more than 30%. During the rise, there was a break above a critical bearish channel with resistance near $ 0.5300 on the 4-hour chart of the XRP / USD pair.

The pair even surpassed the 50% Fib retracement level of the move from $ 0.5945 to $ 0.4350. It even rose above the $ 0.5500 resistance zone.

xrp price analysis what are the next levels for xrp experiencing a sharp rise?

It is currently trading near the $ 0.5700 resistance level and the 100 simple moving average (4 hours). It shows many positive signals. Instant resistance is near the $ 0.5890 level. This is near the 61.8% Fib retracement level of the move from $ 0.5945 to $ 0.4350.

A close above the $ 0.5890 level could set the pace of a steady upward move towards $ 0.6000 and $ 0.6120 in the near term.

Will XRP Fall?

If XRP starts a short-term downside correction, it could find support near the $ 0.5500 level. The first major support is near the $ 0.5400 levels where the bulls are likely to take a stand.

The main support is near the broken trend line or at $ 0.5200. Further losses could ease the current bullish pressure.

Technical Indicators

4-Hour MACD - The MACD for XRP / USD is gaining momentum in the bullish zone.

4-Hour RSI (Relative Strength Index) - The RSI for XRP / USD is currently well above the 50 level.

Major Support Levels - $ 0.5500, $ 0.5400 and $ 0.5200

Major Resistance Levels - $ 0.5800, $ 0.5890 and $ 0.6000

Ripple (XRP) Price Is Ready To Burst: Analyst Announces Target

MagicPoopCannon has announced its XRP price prediction.

Ripple (XRP), the third largest cryptocurrency by total market cap,   has managed to enter the green zone again after a sharp decline. Despite the positive news from the Ripple front, after the Flare Network airdrop program, investors were seen to lose hope. However, XRP price has returned to its previous levels with the rise of Bitcoin and is currently on the rise.

Will XRP Price Repeat Its Old Rise?

XRP has gained 20% in the last 24 hours and ended its journey, which started at $ 0.45, at $ 0.56. However, it is estimated that this rise may continue further. Crypto money analyst MagicPoopCannon emphasized in a statement on Twitter that the XRP price could explode if the market continues like this.

The analyst also commented on other cryptocurrencies in the top 10 in his post on Twitter. Stating that XRP is the only coin that has experienced a decline in the last 7 days, the analyst stated that it seemed negative at first, but the price could explode after reaching the 61.8% Fibonacci retracement point.

Target for XRP is $ 0.90

The level that MagicPoopCannon draws attention to is $ 0.90. The analyst stated that once this point is reached, the price may rise even higher and that is entirely market dependent. It is known that the price level that XRP investors have been waiting for is $ 0.90. In the continuation of this, if the final goal is $ 1, it can really start the XRP rally.

The rate of posts about XRP on Twitter has also increased by 152% since November 2020. In other words, although the price of XRP has decreased with the airdrop, which has lost its effect recently, its awareness in social media is increasing again. Taking into account that the price of XRP is also a cryptocurrency that is in direct proportion to the interaction on social media, the price may indeed rise to the analyzed levels soon.

Everyone Is Talking XRP On Social Media

According to data published by eToro, one of the leading crypto exchanges, the 30-day Twitter average indicates that the number of users talking about XRP has increased from 1,622 to 4,084 daily. Another factor that excited investors was the fact that XRP did not correlate much with the price of Bitcoin, but that it moved together and rose in this latest rally. Perhaps the rise in XRP price may even be an independent movement from Bitcoin.

Important XRP Disclosure From Ripple (XRP) And MoneyGram

MoneyGram CEO praised Ripple.

Ripple, one of the largest blockchain companies in the world, signed a partnership with MoneyGram, one of the world's largest in its field, in late 2019. MoneyGram, one of the largest remittance payment companies in the US and the world , received millions of dollars in payments through this partnership, most of which were made with XRP . Ripple has been criticized a lot for exactly this reason. But it seems that things have finally started to go the way XRP investors wanted.

Ripple Praise from MoneyGram CEO

MoneyGram CEO and President Alex Holmes, in an interview conducted recently drew attention to the important steps taken by MoneyGram Ripple's horse. Speaking to CNN, Alex Holmes stated that as the partnership was ending 18, the number of new online customers increased by 140% and application usage increased by 220%. In addition, the payment company said they had three-digit cross-border payment growth for 11 consecutive months.

When the popularity of MoneyGram and its money transfer application is combined with Ripple's blockchain-based infrastructure and XRP, such an outcome is definitely inevitable. The company emphasized that they have achieved growth even during the pandemic, and emphasized that the Ripple partnership benefits both them and Ripple.

The Number of Users is Continuously Increasing

Holmes emphasized that increasing demand from users is transmitted in real time and revenue is generated from them. In this way, the company both provides liquidity to Ripple and supports the growth of the partnership. In addition, the CEO of MoneyGram stated that the Ripple infrastructure of the two companies and the ODL corridors have seen a major activation. The ODL corridor, where billions of dollars of XRP was transferred, has grown a little bit more with the name of MoneyGram.

Stating that Ripple has accomplished incredible things thanks to blockchain technology, Holmes stated that this will develop further and the name of the company will be heard. Ripple, whose total valuation exceeded $ 10 billion last year, has already proven itself in the US. However, it is seen that the company has become one of the stars of its field on a global scale.

XRP Price Also Moved

Ripple's increasing success in its field could save its business model from being XRP-based. It is predicted that this will also prevent heavy XRP sales. XRP price, on the other hand, rose up to $ 0.56 thanks to the Bitcoin price increase as well as this positive development.

Big News from Information Technology Giant for XRP Owners!

big news from the information technology giant for xrp owners

 

According to the news of U.today, information technology giant IBM bought Canadian payment company Expertus Technologies Inc., which also offers cash management solutions. Expertus partnered with Ripple in 2016 . The company will now work as part of the IBM Global Business Services Unit.

Expertus, a cloud-based banking solutions provider, can process an average of $ 50 billion worth of transactions per day. These financial transactions are directed by more than 1000 financial institutions. 

IBM stated that the payment solution provided by Expertus will transform IBM's cloud-based payment system used by banks and other financial institutions, allowing users to remain innovative and competitive while demand from their customers grows stronger.

Expertus will allow IBM to reduce payment costs through its technology. According to data shared by IBM, banks currently allocate approximately $ 100 billion of their budgets to improve their payment systems with new technologies. 

Expertus Partners with Ripple

In 2016, Expertus partnered with Ripple to run blockchain-based payment solution trials for banks. As part of the trials, the new solution was integrated into the existing payment infrastructure used by financial institutions at the time. It also aimed to reduce the costs of financial transactions for banks.

The solution offered by Ripple and Expertus also aimed to increase liquidity management for financial institutions and corporate clients. Expertus Payment Platform's partnership with Ripple can enable FIs to offer their clients real-time payment execution, full transparency to fees, and lower cost.

Could Ripple See $ 3.30 Again?

BTC's record has served XRP the most.

With the Bitcoin (BTC) price breaking a record, almost the entire cryptocurrency industry has become active. Looking at the crypto currencies in the top 10, it is seen that XRP is the highest with BTC . Behind XRP's rise of 11% in the last 24 hours is Litecoin with 10%, followed by Ethereum with 7% and finally Chainlink with 5%. So, will the XRP price rise continue?

XRP Price Raging

The XRP / USD trading pair has been falling sharply since December 12. It is known that the XRP investor created sales pressure after the airdrop day and the volume increased exactly for this reason. After the XRP price fell below the critical support levels and declined to $ 0.45 today, the Bitcoin miracle occurred.

The leading cryptocurrency's rise from $ 19,500 to $ 20,500 at once and breaking the critical resistance point has also brought dynamism to altcoins. This rise seems to have benefited the most for XRP and enabled it to rise above the critical support. In fact, it is known that there is very low correlation between XRP and BTC, and this spike has certainly surprised many investors.

XRP Climbs to $ 0.52

Looking at XRP technical analysis, it is seen that if the XRP price holds above $ 0.52, it can rise up to $ 0.58. The continuation of $ 0.58, which previously served as an important resistance, is $ 0.65. The XRP price was up to $ 0.77 at the last time it held above $ 0.65.

Could Ripple See $ 3.30 Again?

The fact that Ripple investors have created an increase of approximately $ 2 billion in XRP volume with Bitcoin taking action indicates that the buying pressure will continue for a while. In particular, the slowdown and consolidation of the leading cryptocurrency could create a bull season similar to that of 2017.

It is known that the price of XRP rose up to $ 3.30 in the bull season in 2017. Nevertheless, it is more important than ever to take action in such a lively and tough market. BTC price may fall as sharply as it exits, and XRP and other altcoins may suffer the most from this drop. It is known that the important support point for the XRP price is $ 0.45 and $ 0.32

According to Crypto Analysts, What Will The Direction Be In The Price Of XRP?

 

XRP has seen a serious breakout in recent weeks, surprising both its investors and the entire cryptocurrency community. Spark Airdrop was shown as the reason behind the pricing of the crypto currency, which ranks third. After taking a snapshot for the airdrop, XRP's serious decline proved this idea.

XRP was trading at $ 0.44 according to CoinMarketCap data at the time of writing . XRP has dropped 9% in the last 24 hours and 18.21% in the last 7 days. So what do analysts say about this situation?

Indigenous crypto currency analyst at Dr. Hardfork stated that XRP broke the supports and could fall to 0.24 after the 0.42 level.

Local analyst Siesta Laila shared a chart on his Twitter account and commented on the XRP:

"When you look at the XRP chart, you think it is even more unfair :) There is a reaction from the support, but if you have a weak entry, six stops of the support. If it can throw over 2600 resistance, it will allow those who hold it to breathe comfortably. "

Analyst Crypto Michael said, “Bitcoin is consolidating nicely, which gives altcoins some room to accelerate. Except for XRP. "It has dropped almost 50% since its highest level."

Another analyst Aayush Jindal stated that XRP started a steady decline below the $ 0.5000 and $ 0.4800 levels against the US dollar. XRP price is currently trading below $ 0.4750 and the 100 simple moving average (4-hour).

There is a major bearish channel formed with resistance near $ 0.5330 on the 4-hour chart of the XRP / USD pair (data source from Kraken). If there is a clear break below the $ 0.4350 level, the pair is likely to continue to decline.

Popular Analyst: "Don't Sell XRP Here"

Analyst Credible Crypto stated that XRP should not be sold in the current area, and made the following statement with a humorous language:

“If you sell XRP from here you will cry for the rest of your life and then you will cry in the afterlife and then you will be reborn as a baby and still cry. It will all be because you sell XRP here. Don't make yourself cry for the next three lives. Don't sell XRP here. "

Technician Hodja, one of the local traders, emphasized his confidence in the crypto currency and stated that he will continue to collect XRP at every opportunity for the long term.

Is There Any Potential For XRP Rising?

If XRP starts a good recovery wave above the $ 0.4650 resistance, the bulls could try to take control, according to analyst Jindal. A clear break above the $ 0.4650 and $ 0.4720 levels could start a good recovery. The price must rise above the $ 0.5000 level to move into a positive zone. A close above $ 0.5000 will likely pump the price towards the $ 0.5500 level.

Ripple (XRP) Price Still Falling Despite 'DeFi' Herald After Airdrop

The decline in XRP price continues.

The price of XRP , the third largest cryptocurrency by total market cap , continues to decline. XRP, which was traded at $ 0.66 a few weeks ago, and $ 0.77 at the beginning of the month, is now down to $ 0.45, which reduces hopes.

New developments for XRP are not over

The steps taken from the Ripple front and the Flare Network airdrop program were actually seen as promising developments. It is known that the main reason behind the XRP price rising from $ 0.30 to $ 0.77 is the Flare Network airdrop program. However, the expected December 12 date for the airdrop tumbled XRP down the abyss.

One detail that XRP investors have missed or ignored is that the uptrend may continue in the long term. Flare Network actually aims not only to airdrop within the scope of this partnership, but also to bring XRP into the DeFi ecosystem. For now, it is a known fact that the DeFi ecosystem has become a dominant Ethereum.

XRP Enters the DeFi Industry

The Flare Network team, on the other hand, wants to bring XRP into this ecosystem by using Ethereum's virtual machine EVM. For now, only images of the balances have been received in the airdrop name and the token distribution has not started yet. However, more important news is that XRP has the possibility to enter the DeFi sector.

The project, which aims to introduce the XRP network to the DeFi ecosystem using the Ethereum network-based FLR cryptocurrency and EVM, will begin development in 2021. In other words, although the price is currently experiencing a sharp decline, the positive developments from the Flare front in 3 to 6 months have the chance to change many things.

Flare Network Not Ready Yet

XRP investors have to wait for the launch of the main network of the Flare Network in order to receive FLR tokens from the airdrop. For only 15%, the mainnet has to be released and the remaining distribution schedule has not been published. The XRP / USD pair, on the other hand, continues to decline and dropped to $ 0.44 last night, below the critical support.

For the XRP / USD trading pair to return to critical levels, it must remain above $ 0.50. The current decline seems to be due to the panic of individual investors.

XRP Coin Chart: Ripple Price Drop Deepening, Concerns Rising!

Ripple price decline continues unabated.

Ripple's rally was very short. XRP price rose from the $ 0.30 level to $ 0.78 but is now in a bearish trend again towards the $ 0.30 band.

The combination of spark airdrop excitement and positive move in the market has given XRP a serious momentum, but the excitement seems to have faded. XRP, which was traded at $ 0.4490 at the time of writing, fell to $ 0.4373 in the past hours.

Why Is Ripple Falling?

In fact, Ripple had excited investors with its recent price movements and started to compensate for its poor performance in the past three years. As is known, XRP has been in a bear market for about three years and did not react to the short-term rallies in the market. The recent spikes were thought to be the awakening of XRP, but Ripple did not act as expected.

Rising with the spark airdrop excitement, rising to $ 0.78 overall, and even to $ 0.90 on some exchanges, XRP fell after the excitement subsided. The resulting excitement also increased the technical power of XRP, but according to the latest data, XRP is losing technical power again in the days we left behind.

So the reason behind the XRP's decline is indirectly technical weakness. The technical weakness is that spark airdrop is thought to be a quench of excitement .

Important Supports Are Breaking One by One

Ripple seems to be losing key support levels one by one in addition to its decline. Looking at the current charts, $ 0.52 and $ 0.48 were very important support levels for analysts. Ripple is currently trading below both of these levels and the downward trend is likely to continue unless the price is supported by different factors in the near term.

In addition, it is thought that key support levels are likely to turn into resistance, and if this happens, further weakness may be seen.

Is there any chance of ascension?

According to analysts who evaluate the current charts, the picture looks dark for XRP in the near term . However, as always, there is a possibility for the third largest cryptocurrency to rise in terms of market volume.

Although XRP currently appears in freefall regardless of the Ethereum (ETH) and Bitcoin (BTC) price, the prices are still linked. Therefore, a serious upward upward momentum initiated by BTC and ETH may have the power to pull XRP up.

For this reason, if BTC and ETH manage to break the consolidation processes upwards, we can see the bullish charts for XRP again

Bank of America's Final Survey in Favor of Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP)

The Bank of America survey revealed interest in Bitcoin.

The survey conducted this month by Bank of America and BofA Securities showed very positive results for Bitcoin (BTC), Ethereum (ETH), Ripple (XRP) and all altcoin investors in general. In a survey conducted by BoA, one of the most important banks in the USA, it was revealed that people opened short positions for the US dollar and invested in Bitcoin (BTC).

Bitcoin Ranks Third

According to the survey conducted with the managers of hedge funds, it is seen that the most popular investment is to open a long position for technology shares for December 2020. Opening a long position is known as taking a step towards the rise of an asset, while opening a short position is known as taking a step towards its fall.

 

Investing in the shares of technology companies comes first, while shorting the US dollar is the second. It is not surprising that the second most popular investment move of December was against the US dollar. Trillions of dollars in stimulus package payments and uncertainty in the US actually underlie this.

BTC Difference From Others, Growth Rate

Opening long positions for Bitcoin is in third place. However, although Bitcoin is in the third place, it is seen that it is the fastest and most growing investment tool compared to November 2020. While opening a long position for Bitcoin in November 2020 was at the level of 5%, in December 2020 this rate rose to over 15% and grew approximately 3 times.

Under the Bitcoin investment, there is a long position for corporate bonds, while under it there is a similar move for gold investment. However, it is seen that the rate of opening long positions for gold decreased compared to November 2020.

How Altcoins Like XRP and ETH Affected From This

Is this only positive for Bitcoin? In fact, the survey results show that BTC is the only asset that has moved to the positive side so quickly in a month. Even though investment in technology stocks ranks first, it seems to have declined compared to November 2020. As can be expected, Bitcoin's popularity means a new rise for Ethereum, XRP and other altcoins. If Bitcoin can continue this growth in 2021, not only BTC, but also altcoins could break the record on the record.

Ripple Milestone: RippleX Released Its First Project

Ripple, which has a valuation of over $ 10 billion, launched its own developer platform RippleX and the first project was published. The first RippleX project based on XRP Ledger was officially published on Github. So what exactly does this landmark development mean for Ripple?

RippleX's first project: XRPl4j

The first project appears to be a Java library (XRPl4j) with the functionality to interact with XRP Ledger (XRPL). The main purpose of this development can be expressed as the use of Java language in the XRP Ledger network. It is seen that the project was created with the Java based automation tool Maven and has a multi-module architecture. One of these modules enables the addresses and public keys in the XRP network to be converted into Base58Check encryption language. The Base58Chck encryption protocol is known as the method used in XRP wallets. In fact, this language was also used in the original Bitcoin client.

Bridged between Java apps and XRP Ledger

The biggest benefit of RippleX's first project will be to create a bridge between XRPL and Java applications. With this development, Ripple aims to pave the way for new projects and developments in the network. RippleX was formerly known as Xpring and was the investment and development arm of Ripple. Although Xpring has invested and funded many projects such as the recently popular Flare Network , it could not be mentioned much in terms of development.

The first project implemented and the fact that it is a bridge could change things for Xpring, or RippleX as it is now called. XRP price, on the other hand, fell 6% in the last 24 hours, and fell again below $ 0.50.

Millions of XRP Transfers From Ripple (XRP) Partner: How Will Price Move?

SBI VC Trade has transferred millions of XRP.

SBI Holdings, one of Ripple's largest partners and one of Japan's leading holdings, made a transfer of 200 million X R P, further increasing investors' fear of the recent price drop. It seems that the funds were sent from the cryptocurrency exchange affiliated with SBI Holdings to SBI VC Trade.

200 Million XRP Transferred

It is seen that the crypto money transfer in question was made in two different transactions with 100 million XRP each. In other words, with this transfer made by SBI Holdings, a total of more than $ 102 million was transferred. Although Whale Alert cited these transfers as "originating from unknown wallets," later research proved that the wallets were affiliated with SBI.

SBI VC Trade is a platform that opens for institutional investors and basically enables investors to withdraw Bitcoin, XRP or Ethereum-based loans. This transfer from SBI's cryptocurrency exchange to the VC Trade wallet indicates that someone has requested to withdraw large XRP credits or funds have been replenished.

BitGo Involved In XRP Transfers

Some of the funds are seen to be sent to BitGo. BitGo, which is also in partnership with Ripple, provides cryptocurrency custody and storage services for financial institutions. On December 12, it was seen that about 246 million XRP was released from BitGo wallets, which went to SBI VC Trade wallets.

XRP price is traded at $ 0.50 in the continuation of all these developments and it could not recover after the airdrop. This drop of XRP, which went up to $ 0.77 about 3 weeks before the airdrop program, was an expected development. In big news and developments like this in the cryptocurrency industry, even if the price rises until the event occurs, the price tends to crash when the event is over.

Will XRP Price Fall Again?

XRP price also hovered around $ 0.55 before the event, but fell to $ 0.48 when the airdrop day came. These transfers now indicate that whales are beginning to take different paths. The critical level for XRP appears to be the $ 0.48 support that was previously tested.

If the XRP price drops below $ 0.48, the next target appears to be $ 0.33. The panic for XRP investors may increase the selling pressure and accelerate the decline.

Ripple (XRP) On The Edge: Will XRP Price Fall To Its Old Point?

XRP price declined to the critical point.

Ripple (XRP) suffered a serious crash with the expected airdrop day coming after a very positive November. The XRP, which went up to $ 0.77 with the FOMO before the airdrop and even up to $ 0.90 on Coinbase, is trying to hold at $ 0.50 as of the time this article was written.

XRP Technical Analysis

Experts and technical analysis data point to the XRP price approaching the edge of the abyss. One of the most important support points for XRP is known as $ 0.50 and $ 0.40. XRP price has the potential to decline to $ 0.40 in the near term, according to technical analysis, which is interpreted as a fall from the abyss.

XRP / USD technical analysis, where the descending parallel channel formation occurs, prevents the bulls from rising. When looking at the RSI indicator, it is seen that the effect of the bears is felt more than ever. If the RSI indicator returns to the oversold zone, this pattern may be disrupted, but for XRP, it does not seem possible in the near term.

Will XRP Price Fall Off The Abyss?

Looking at the chart below, it can be seen that the channel formation is worth $ 0.49 gold. The break of the $ 0.40 resistance that previously caused a sensational rise could be as a break below the $ 0.40 support right now. This will create a new channel formation, causing the price to fluctuate between $ 0.40 and $ 0.27.

In order to break the related bearish pattern, Ripple price has to disrupt the descending channel formation by closing daily above $ 0.5. It is seen that the lowest point of the channel coincides with the 200 SMA level and therefore the price may resist. The most important point for XRP will definitely be $ 0.60.

Is Hoping Over For XRP Price?

If the XRP / USD price can rise above $ 0.60 at the weekly point, everything will take on a different dimension and the XRP price may start to rally again. The targets of XRP price after the critical $ 0.60 point appear to be $ 0.62, $ 0.70 and $ 0.85, respectively. XRP, which previously shot up to $ 0.90, could push $ 1 in a new rally.

Meanwhile, millions of XRP transfers are remarkable. In these days when XRP whales are getting more active again than ever, anything can happen at any time. XRP investors, on the other hand, need to be ready for hard moves.

Ripple (XRP) Price Continues To Fall: Where Will XRP Stop?

XRP price fell as low as $ 0.48.

Although the leading cryptocurrency Bitcoin (BTC) has managed to recover after falling to $ 17,600, this is not the case for XRP. One of the most important steps was taken for the airdrop that everyone was waiting for on December 12, and the balances of the XRP investors' wallets were recorded. While XRP price has been rising with this development for almost 1 month, it entered a sharp downtrend after December 12th.

XRP Price Continues to Decline

While the FLR airdrop event is expected to have a major trigger for the XRP price , the fact that this effect was only until December 12, actually surprised investors. Thor Chan, CEO of AAX crypto money exchange, stated in his current interview that the XRP and Flare partnership is not just a simple airdrop program.

The famous CEO stated that there will be more cooperation between the XRP Ledger and the Flare Network and significant developments will come to the XRP network. Stating that the integration of the XRP Ledger with the Flare Network could bring an increase to $ 0.90 for XRP, although the price fell sharply, the CEO stated that the Bitcoin price should also increase for this.

Below $ 0.50 Seen

XRP price, on the other hand, fell to $ 0.50 after the airdrop and lost its support of $ 0.50 as of today. The XRP / USD pair is heading towards $ 0.48 on the 4-hour chart, which could result in a consolidation between $ 0.30 and $ 0.40 for XRP again. Although the RSI indicator shows that the bearish effect will continue for now, it is still not in the overbought territory.

The RSI indicator entering the oversold zone could actually be a positive development for investors. However, the fact that over-selling is still not seen indicates that the XRP price can be lowered a little further with the selling pressure. XRP price could retreat as low as $ 0.45 according to the chart above. If there is no support here, the next point will be $ 0.38.

Critical Levels for XRP

The XRP / USD pair had tested exactly 7 times before to break $ 0.38. It is known that the situation is different in the downs and the XRP price can drop very sharply at a time. The main reason for this is the selling pressure and the panic and the investors contributing to this selling pressure.

Despite all this, the XRP price has a chance to return from $ 0.48 and use the support here in its favor.

Bitcoin (BTC) Price Recovers After A Hard Drop: So What Will Ripple (XRP) Price Be?

While Bitcoin is recovering, XRP continues to count.

Bitcoin (BTC), the largest cryptocurrency by total market cap , has recovered from where it fell to over $ 19,220 as of the time of this writing. The expected return has come, although the drop in the bitcoin price from $ 19,000 to the $ 17,000 band reddishes all altcoins and the market.

Bitcoin Price Recovers

While this increase in bitcoin price affects almost all altcoins positively, XRP has not been able to catch the desired rise and continues to fall. The XRP / USD trading pair is currently resisting against falling below $ 0.50. However, despite the volume of cryptocurrency exchanges, the price decline definitely shows that the selling pressure has reached incredible levels.

This rise in the bitcoin price is directly related to institutional investors. B TC received official approval from one of the world's largest insurance companies , such as MassMutual , and the company stated that it has made an investment of $ 100 million. Following this, news emerged that MicroStrategy received another $ 650 million BTC. XRP, on the other hand, made a hard sell with the expected day of the airdrop program made by the Flare Network.

XRP Investors Panic Continues

It is unclear how many SPARK tokens XRP investors will buy right now, and yet the sharp fall in price suggests these could be manipulative moves. The number of XRP whales had increased at a record high just before the airdrop, and the likelihood that the whales are now selling is well.

Critical resistance points for XRP are known as $ 0.48 and $ 0.42. Landing below here could mean a new bear season.

It is known that the next resistance points for bitcoin price are the close above $ 19,200, the $ 19,600 resistance and finally the weekly close above $ 19,800. When the BTC / USD pair reaches these levels, altcoins are likely to be crushed. However, BTC seems to be standing still and giving altcoins a chance to rise after a serious rise.

Critical Points for XRP and ETH

If XRP can escape the selling pressure, it will have to break $ 0.55 first and then $ 0.62.

On the other hand, Ethereum price managed to break the critical resistances in front of it by reaching the level of $ 578. If Bitcoin's market dominance drops, the ETH price is expected to rise to $ 620, from there to $ 680 and finally to $ 750. Of course, all this depends on the course of the Bitcoin price and is indexed.

Can Ripple (XRP) Price Recover?

XRP price is up again, but everyone is wondering whether there will be a breakout to the old levels.

Ripple (XRP), the third largest cryptocurrency by total market value, suddenly found itself in the $ 0.40 band while pushing the $ 0.80 levels. XRP, which dropped from $ 0.80 to $ 0.40 due to Bitcoin's fluctuating price movements, is being bought and sold for $ 0.52 at the time of this writing. Will the XRP price be able to push the $ 0.80 band again despite all these movements?

XRP Price Drops With Spark

In particular, XRP, which fell by 10% on December 11, dropping from $ 0.55 to $ 0.486, scared investors. It was expected that there would be drastic movements after the Spark airdrop event, but this sharp decline literally surprised everyone. The XRP price did not drop below the $ 0.48 support, and had it gone, the next target would be $ 0.43.

The further movements of the XRP price gave investors some hope. The XRP / USD pair rose from $ 0.48 to the $ 0.52 level. $ 0.52 was a critical resistance point for XRP previously. The crossing of $ 0.52, which is also supported by the 50 SMA, will mean a rebound to the $ 0.60 band for XRP investors.

Critical Level for XRP: $ 0.52

Looking at the XRP price analysis above, it can be seen that the XRP price is experiencing a serious congestion against $ 0.52. If XRP price can hold above $ 0.52 again, the expected rally may manifest itself. Of course, for the rally, Bitcoin's market dominance also needs to drop significantly and prepare for the rise of altcoins.

The Bitcoin RSI has been hit hard in recent days, and yet the $ 800 rise yesterday is not seen as a positive development for RSI. As of the time this article was written, BTC has been moving towards surpassing $ 19,200 and it is clear that XRP and other altcoins will not be positively affected by these movements. If Bitcoin can go above $ 19,800 in the short term, the XRP price could fall sharply.

Although Altcoins Rising, XRP Stays In Place

Ethereum, on the other hand, continues to rise along with Bitcoin in the opposite direction of XRP. The only altcoin in the top 10, which has risen more than ETH, which has gained 5% in the last 24 hours, looks like Litecoin. LTC rose above the $ 80 level again, with an 8% rise. Despite the activity in other altcoins, the fact that XRP is behind shows that investors are waiting for hard days.

What is the latest in XRP price? How Did the Spark Airdrop Snapshot Affect the Price?

Latest status in xrp price after spark airdrop snapshoti

 

Today at 03: 00 the XRP with the enthusiasm that followed the realization of expected purchases snapshot XRP was faced with a sudden and sales fell to 0.5100 dollars. With the decline experienced yesterday evening, XRP increased its loss in the last 24 hours to 5.05%. XRP is trading at $ 0.5262 as of the time of publication.

XRP has seen some sharp price movements over the past few weeks, showing a parabolic uptrend, with the coin rising above the trading range of $ 0.21 to $ 0.30 where it stayed there for many years, causing it to rise to $ 0.90 on some exchanges like Coinbase.

However, XRP lost this upward momentum and anchored around 0.50, erasing some of its significant gains. Where the trends are in the near term will undoubtedly depend on whether the bulls can continue to defend this price level.

When Airdrop Is Completed, There Can Be A Hard Drop

One of the main events supporting this uptrend was the Spark Airdrop, which XRP holders, widely seen as a catalyst for this rally, could benefit. The data shows that there is a sharp rise in the number of wallets due to the Spark Airdrop and an accumulation phase is taking place as XRP has not seen a huge drop yet. This may cause a sharp drop when the airdrop is complete. 

XRP Bulls Prevent Intense Selling

XRP is indicating a 5% loss with its price of $ 0.52 right now. This is pretty close to the price it has traded for the past few days.

Ripple Analysis: Spark Airdrop Raises XRP Price First, Then Lowers It Hard!

XRP price is retreating towards the crucial $ 0.50 level.

Leading cryptocurrency Bitcoin (BTC) has been on the rise with corporate investment news yesterday after bottoming at $ 17,750 yesterday. As always, altcoins also followed BTC and started drawing bullish charts. However, the situation was not the same for XRP. Ripple is deepening its decline as Bitcoin price rises.

Why Is Ripple Falling?

When the general market data is evaluated, it is seen that Ripple is following Ethereum, which is the largest altcoin in terms of market volume, and (ETH) and Bitcoin. However, this time the situation was different. Ethereum and Bitcoin, which continued to rise during the day, also seem to be continuing the downward trend of XRP price.

Ripple price rose with both the bullish sentiment in the general market and the excitement of the Spark airdrop, and corrected as expected after the rally of over 200 percent. Spark airdrops took place at night, and around the same time XRP dropped sharply.

Looking at the charts, it is seen that around 03:00, XRP declined from $ 0.58 to $ 0.48. Analysts think there was a drop as soon as the airdrop excitement ended.

The market was split in two

In fact, there were two different views on the airdrop market: One segment stated that the airdrop would be a great catalyst for the XRP price and that Ripple would rise to the $ 1 band, while another thought that XRP would face intense selling pressure with the Spark airdrop.

Looking at the current data, it is seen that those who expect a decrease are justified. Presumably, investors started buying and selling profits, which put a lot of pressure, pulling the price down. After this price drop, it is thought that panic sales may cause a further decline in XRP.

Will the Decline in Ripple Stop?

The $ 0.50 level serves as a very important support level in XRP, and according to the charts, Ripple continues to pull back towards $ 0.50, analysts say. The price movements that XRP will exhibit in the coming days are thought to be due to the reaction it will face in the $ 0.50 band.

If XRP loses its support level at the $ 0.50 band and continues its downtrend, the lows in the $ 0.30 band may be retreated. However, the buying pressure that will occur in the $ 0.50 band with the effect of the increase in the market may cause the price to rise up to $ 0.80 with a new rally in the coming days.

Ripple Price Hit Hard: Will XRP Keep Up With The Market?

With the airdrop, the XRP price fell very hard.

Ripple (XRP), the second largest altoin in terms of market volume, has shown a nice price movement with both the rise in the market and the Spark Airdrop effect. XRP rose from the $ 0.28 band to $ 0.78. XRP, which consolidated in the $ 0.60 band with a subsequent correction, experienced high volatility in the past hours.

Spark Airdrop and Ripple Price

Rising with the spark airdrop effect, XRP seems to have experienced a noticeable decline with the Spark airdrop effect.

Flare Network announced that it will create a function similar to the Ethereum network, based on the XRP network and distribute SPARK tokens to XRP investors for free. In this way, the movement started on the agenda and big prices xrp' Spark airdrop, 03 Turkey against the clock in the morning: was held on 00.

In fact, with the approach of the airdrop, the excitement started to decrease and the decreases caused by Bitcoin were also supported by the approaching of the airdrop. In the statements made before the airdrop, it was warned that the XRP price could crash and investors should be careful. Indeed, the warnings seem to have found their way.

XRP Price Falls Hard

Over the past few days, more than 1.7 billion XRP tokens have been transferred to known exchange wallets for snapshot preparation. Also, the number of whales with at least 10 million XRP jumped to an all-time high of 339.

However, increased demand failed to push the XRP price higher, and at the same time as the Spark airdrop , the third largest cryptocurrency in terms of market volume fell sharply around 03:00. Ripple price suddenly fell from the $ 0.58 band to $ 0.48.

How Long Will Ripple Fall?

Looking at the graphics, we can state that XRP was traded at $ 0.53 at the time of the article's preparation. Although this indicates a good recovery from the $ 0.48 level, the fact that XRP has disrupted the downward consolidation process it has recently been causing various concerns.

However, if Ripple breaks the $ 0.59 resistance and manages to stay above this level, XRP's value could quickly move up to the $ 0.80 level. However, at the moment, only XRP among the top ten cryptocurrencies in terms of market volume is drawing a decline, all other coins appear to be in green.

So Ripple can accelerate the recovery process if it can survive the impact of the airdrop and keep up with the market.

Ripple Launches Global Expansion Strategy To Spread Out XRP

Ripple's global expansion strategy comes to light with the company's top positions in Europe, Asia and South America.

The company is looking for a chief executive and a senior policy executive in Singapore for RippleNet. He also has an accounting manager vacancy in Tokyo for SBI Ripple Asia. The company has a large number of open positions across Asia. According to the job posting, the senior policy executive will focus specifically on lobbying for XRP-friendly government policies across Asia-Pacific. SBI Ripple Asia accounting manager will manage customer relationships in Japan and South Korea.

SBI Holdings invested in Ripple in 2016. The same year, the two launched SBI Ripple Asia to offer payments backed by distributed ledger technology to financial institutions and remittance transfer providers in the region. The Japanese financial giant is testing the use of XRP to cover corporate debt and loans .

Ripple in Europe wants to hire a general manager of RippleNet Europe and a sales development representative for the Europe, Middle East and Africa (EMEA) region. These two positions are based in London. Additionally, he is looking for a customer relationship manager in South America. The position is located in São Paulo, Brazil.

Known for its high turnover, Ripple currently advertises for a total of 31 open positions.

Big Transfers in Bitcoin (BTC) and XRP, What's Happening?

 

One of the largest Bitcoin wallets on record has transferred about 21,315 Bitcoins worth about $ 400 million to an unknown wallet.

Before the transaction, according to BitInfoCharts, the sending wallet was the 34th largest Bitcoin address in the world on record, but received the first BTC only on Monday. This wallet 's balance is now zero. According to CoinMarketCap , the cryptocurrency tracker Bitcoin Block Bot reported this transaction, which cost only 0.00085506 BTC and was worth about $ 15.78 at the time of writing.

According to Blockchain.com, about 16,315.2 BTC in the transaction were sent to an unknown wallet and 5,000 BTC to another wallet, and none of Bitcoins has moved again until the time of writing. None of the relevant wallets are known to be affiliated with any cryptocurrency company or individual in the industry.

XRP Movement Also Happened

Whale Alert, a crypto tracer bot, also reported a massive crypto move from San Francisco-based payment company Ripple. Ripple moved 150 million XRP worth about $ 84 million to an unknown wallet on Tuesday. According to Bithomp, the XRP Ledger fee for the transaction was just 0.0005 XRP (much less than a penny).

This unknown wallet has received a lot of big XRP from Ripple in the past. A few of the recent transactions were 50 million XRP from Ripple on December 1, 27 million XRP on November 4, 42 million XRP on October 1, 47 million XRP on September 3, 39 million XRP on August 19 and August 1. It contains more than 26.5 million XRP.

Will 1.2 Billion Ripple (XRP) Transfers Press the Price?

1.2 billion XRPs were sent from giant exchanges.

As the December 12, which XRP investors are eagerly waiting for, approaches, it is seen that large transfers have increased. According to XRPL Monitor data, an incredible amount of XRP has been transferred in the last 15 hours, and the leading cryptocurrency exchanges are behind these transfers.

1.2 Billion XRPs Sent

It is seen that a total of 1.2 billion XRP has been released from crypto money exchanges led by Bithumb and Kraken . It seems that XRP transfers range from 100 million to 200 million XRP. This large amount of XRP transactions, which are made few days or even hours before the Spark airdrop program, can fuel the panic of investors.

Of course, in addition to crypto exchanges, Ripple co-founder Jed McCaleb recently sold 29.6 million XRP, making its fourth sale this week.  According to the information provided by XRP Monitor , about $ 689 million of XRP has been transferred in the last 15 hours, and this is more than enough to scare investors.

Where are the funds from?

The majority of the funds appear to be from the South Korea-based crypto currency exchange Bithumb and the US-based crypto currency exchange Kraken. Bithumb sent 700 million XRP with 3 transfers in total, while Kraken sent 397 million XRP with four transfers. Other exchanges that transfer XRP are Bitfinex, Bittrex, Huobi, Coinbase and Binance.

The common feature of these crypto money exchanges is that they all support the airdrop program to be made by Flare Networks. The Flare Network, which will combine the important features of the Ethereum network with the important features of the XRP network, distributes 1: 1 SPARK token to all XRP investors to celebrate its entry into the market.

Airdrop Increases XRP Transfers

In order to earn SPARK tokens in the airdrop program, users need to keep their funds on exchanges that support this program. The reason for the large transfers made in the last 15 hours may be airdrops, as expected. However, after airdrops are made, selling them through exchanges can lower the XRP price harder than ever.

The XRP price was trading at $ 0.569 at the time of writing this article and dropped to $ 0.48 yesterday. It has previously been proven that there is a positive correlation between the fall in XRP price and the transferred funds. So the more XRP that is transferred, the more the price tends to drop, which multiplies investors' anxiety.

Ripple (XRP) Investors Should Follow These Steps To Purchase Spark Tokens

The day has come for XRP investors.

The expected day has come for Ripple (XRP) investors, and almost every XRP investor has the Flare Network in mind right now. Flare Networks, part of the Ripple ecosystem and supported by Ripple Labs, distributes its own cryptocurrency to XRP investors to respond.

Big Day for XRP

In fact, this development, known for almost months, created a positive move for XRP investors, and the price punctured up to $ 0.82. The Flare Network, which will create a function similar to the Ethereum network based on the XRP network, stated that it will distribute SPARK tokens free of charge to XRP investors and in fact sat on the agenda of the whole industry.

So what exactly should XRP investors do to get SPARK tokens? In fact, the first thing to do can be explained as sending XRP to cryptocurrency exchanges or other platforms that support airdrops.

What to Do for Spark Airdrop?

Following this, the points to be checked and the steps to be taken are listed as follows:

See if your exchange or platform where your XRP funds are available supports airdrops.

XRP investors should not be using their funds as of December 12 at 03:00 CET. In other words, no buy or sell order should be entered.

Leading exchanges such as Binance stressed that funds for which any orders are entered will not be included in the airdrop.

Many cryptocurrency exchanges today will close XRP transactions and take a screenshot of XRP funds.

In the continuation of this, the stock markets that support all transactions will take care of it.

XRP investors will partially benefit from the FLR token airdrop.

XRP Price May Crash

The XRP / USD trading pair is trading at $ 0.55 as of the time of this writing. It can be said that the XRP price is currently experiencing sharp drops entirely due to Bitcoin. However, the approach of the airdrop date and the fading excitement are definitely causing alarm bells to ring for XRP investors.

If the XRP price starts to fall sharply after the airdrop, individual investors may start to sell their funds with panic. As expected, this sale has the potential to pull the XRP price up to its pre-rally position, that is, $ 0.30 below. However, if the whales do not sell, it may be enough to keep the XRP price alive and create FOMO.

Which direction the XRP price will choose will be determined after 24 hours.

Why XRP Is In Positive Zone While The Market Is Crashing?

 

All cryptocurrencies are in the decline today and are in the red zone. However, according to Coin360 data, XRP is in the positive region. So what is the reason for this?

The Spark Token snapshot, which will take place on December 12, is one of the most important factors keeping XRP alive. The cryptocurrency, which is currently in third place, has increased by 4.33% in the last 24 hours. As it can be controlled via Whale Alert, large amounts of XRP are currently being transferred to crypto money exchanges supporting Spark Airdrop.

Approximately 450 million XRP has been accumulated in preparation for Flare Networks' airdrop. In addition, approximately 44 thousand new XRP accounts have been created. It is reported that a total of 94,048 XRP accounts are ready to claim Spark Token.

When Will the Spark Airdrop Take Place?

Following the snapshot, which will take place on December 12 at 03:00 CET, XRP investors will be offered the opportunity to request Spark Tokens (FLR) between March and May next year. Spark Tokens will be distributed at a ratio of 1: 1.

Flare Networks, on the other hand, is not clear on what these Spark tokens will ultimately be worth. For now, the only known company Spark tokens Ethereum block chain rather than to distribute on its Flare network.

What Happens With XRP Price?

As with most airdrops in the cryptocurrency world, XRP investors and traders also expected a bullish wave. However, XRP is fluctuating between $ 0.50 and $ 0.60. At the time of writing, XRP was trading around the $ 0.57 support zone. If Bitcoin can provide the ideal market environment, XRP is likely to experience a significant bounce, according to analyst John Njui.

If it happens according to Bitcoin's price bullish scenario, XRP may have a chance to retest the resistance levels at $ 0.62, $ 0.65 and $ 0.68. On the other hand, some analysts say that XRP may be subject to serious sales pressure after the Spark Token airdrop. This can pull the cryptocurrency to the bottom.

However, according to an article on CoinPedia , there is a community that believes that the price of XRP will reach $ 1 after the airdrop. Many cryptocurrency holders even announced on Twitter that they have completely converted their portfolios to XRP. But, as we have just mentioned, the number of people who believe that the XRP price will drop to $ 0.2 to 0.3 after the airdrop is quite high.

Is it a problem for Ripple to hold XRP?

 

Block Digital's co-founder and head of research and development made statements about Ripple's stake in XRP.

In a new interview with Real Vision, Santiago Velez addresses the controversial question of whether Ripple owning more than half of the total supply of XRP will help or prevent the third largest cryptocurrency to grow by market cap.

Velez says Ripple's assets pose a risk, and that Bitcoin faces a similar problem with whales that might decide to sell large amounts of BTC on the open market. Velez states that traditional investors are also facing such a risk. He agrees, for example, that Amazon investors knew that one day Bezos might decide to sell AMZN shares and launch the surplus supply:

“There are many criticisms of Ripple at the company. They are the biggest owner of XRP, the biggest criticism is in this direction. They represent the enormous counterparty risk that can come into the market and you, as a token investor, are basically subject to this huge shift. The difference between Amazon shareholders is that they can create new shares, share stocks, things like that. However, you cannot do this with the known total supply. Really, all you can do is play inside 99 or 100 billion XRP. This is your maximum allowance. "

Praises Ripple's Transparency

Velez praises Ripple's transparency in XRP assets and says it is one of the most transparent companies in crypto:

“For me, XRP is one of the most transparent ecosystems. There is the fact that Ripple communicated this to the community. They don't have to do this. They had no obligation to put XRP into these Escrow contracts but they did anyway and report exactly how much they gave, how much they sold. This is another important transparency. They report exactly how much they sell. "

Ultimately, Velez says, XRP's value proposition is very different from Bitcoin. Rather than being an alternative store of value to gold, he says, the growth of XRP will depend on its benefit in the payments world.

For example, XRP-based remittance platform On-Demand Liquidity provides an example of how XRP can give financial institutions a way to quickly transfer money to global markets without the need to hold various currencies. This is important for the value of XRP and Ripple.