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XRP Price Poised for a Breakout Ahead of Spark Token Airdrop

Highlights

    XRP price is expected to get a wider push ahead of the scheduled Spark Airdrop on December 12, 2020.

    XRP price is expected to hit $1, if it successfully trades above $0.7 to $0.75 range and the price closes above 50 SMA

    Crypto community expects a huge breakout of XRP price after the Spark airdrop

XRP Price Strongly Heading Towards $1

Ripple’s native token, XRP is currently trading above $0.6 despite a continuous and constant pullback. The hourly chart points out a series of dumps whenever the XRP price attempts to rise above the levels.

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XRP price Chart

However, the frequent pullbacks have merely affected the XRP community as the XRP address is on rising since the spike. Santiment, one of the data analytic platforms said that XRP is making more ground on BTC in 2020. 

The platform highlighted that, despite the price drop, the XRP address remained higher than this year’s average. Therefore posing a relatively encouraging sign of the cryptocurrency going to the moon in the coming days. Additionally, the Spark airdrop may also be a prime factor of the surge in XRP price.

Also Read: XRP Price to Cross $1 Very Soon, Predicts an Analyst

Is the Spark Airdrop to Increase XRP volume?

As the rounds of an airdrop of Spark tokens for XRP holders circulated in the crypto space, many notable exchanges like Coinbase, Huobi, Bitthumb, etc have extended their support. The entire XRP community is on the belief that the XRP price would hit $1 after the airdrop.

Many crypto holders announced on Twitter that, they have converted their portfolio completely into XRP. Hence amplifying the chance of increasing the XRP volume amid the airdrop buzz. The 24-trading volume which had spiked with the rally,is still above the year’s average value.

Surprisingly, some of the users also feel that the airdrop is pre-planned, while some groups also believe that the XRP price will slide down to $0.2 to $0.3 after the airdrop.

Collectively, the crypto space is pretty excited with the upcoming Spark token airdrop for the XRP holders. Well, whether the airdrop will really impact the XRP price or no, we need to sit back and watch.

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Sahana Vibhute

A passionate cryptocurrency and blockchain author qualified to cover every event in the crypto space. Researching minute occurrences and bringing new insights lie within the prime focus of my task.

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