Will XRP price be able to break records with airdrop?
XRP, the third largest cryptocurrency by total market cap, rose 3% in the past 24 hours, again above $ 0.60. Although the XRP price has increased from $ 0.48 to $ 0.60 compared to a week ago, investors want to see previous price levels.
Will XRP Price Break $ 0.77?
The XRP / USD pair saw $ 0.77 about 2 weeks ago and $ 0.90 on the Coinbase cryptocurrency exchange. After reaching these prices, there was a sharp decline in many trading pairs, including XRP / USD. For the Flare Network airdrop event, which the vast majority of investors rely on, there are a few days left and the price may take action again.
The Flare Network, backed and funded by Ripple Labs, will distribute its cryptocurrency Spark to all XRP investors for free. The first distribution will take place on December 12, and investors will be able to receive 1: 1 XRP in exchange for holding funds on exchanges or wallets that support the airdrop event.
Flare Network Could Be The Savior For XRP
The Flare Network airdrop event has definitely attracted XRP investors, and has enabled many new investors to make their first investment. So, will this news and development enable the XRP price to rise again to above $ 1? In fact, when looking at XRP / USD technical analysis, it seems to be a bit difficult.
Although XRP price came up to $ 0.77 in the rally that started at $ 0.22, it is known that there is a very strong resistance at the $ 0.88 point. When looking at the XRP price chart, whenever the price reaches $ 0.68, it is seen that it has been hit hard from here. In addition, the Flare Network airdrop event is likely to have already been priced.
Has XRP News Been Priced Already?
Many investors have already bought XRP for the XRP airdrop event, and it seems unlikely that the XRP buying pressure will increase significantly in the past 1 week. In other words, the real increase may have been experienced and finished within 1 month of the first release of this news. However, as seen in the last week of Ethereum 2.0, a serious increase can be seen for XRP a few days before.
50% of the ETH required for the transition to Ethereum 2.0 was invested in almost the last week. If XRP whales also decide to buy high-volume XRP lately, $ 1 for the price may not be far at all.
