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.