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.