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Various cryptocurrency analysts have taken a bullish stance on the fourth largest cryptocurrency by market capitalization, XRP, as the number of whales invested in the cryptocurrency reached a new all-time high.
Scott Melker, a cryptocurrency trader at Texas West Capital, revealed on social media that he is bullish on the cryptocurrency and could see it rise to $ 0.33, compared to its current price of around $ 0.29.
Echoing Scott Melker’s sentiment towards XRP was another crypto analyst at Dave the wave, who told his more than 39,000 followers he sees the cryptocurrency “show strength” on a pattern that apparently points to an upward move in the next future.
The price of XRP, according to CryptoCompare, has risen by more than 23% in the past 30 days as it continues to gain momentum, but in the past 12 months it has increased by around 13%, in contrast to BTC which has risen by almost 100%. in that same period. XRP appears to be accelerating, however, in the past 24 hours it has risen by 5.9%, versus BTC’s 4.7%.
Crypto analytics firm Santiment revealed that XRP’s impressive price performance in recent days has been accompanied by an increase in addresses with large holdings.
Cryptocurrency investors could purchase XRP pending the Spark token that XRP holders will receive on December 12, when XRP holders will receive Spark tokens on a 1: 1 basis based on the number of tokens they hold.
The airdrop will see Flare, Ripple’s partner, distribute a total of 45 billion Spark tokens to XRP holders, with the exception of Ripple itself and some former employees of the startup. Tokens are set to be distributed to self-reliant XRP investors and those who have their funds on a cryptocurrency exchange or wallet that supports airdrop.
Although most major exchanges have not yet made any announcements about it, Uphold and Foblgate have announced support. According to Flare’s FAQ page, the demand for the Spark token airdrop from the XRP community appears to be considerable:
We have been blown away by the amount of interest in Flare over the past few days! Since the process to prepare your XRPL account to receive Spark on Friday was announced, there have been over 295 million XRPs contained in XRPL accounts that have set up their accounts to receive the Spark token.
Other exchanges that support the airdrop include eToro, CoinField, Bitrue, AnchorUSD, Nexo, and Tokens.net.
Featured image via Pixabay.
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