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.