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An executive at cryptocurrency investment firm Kenetic Capital says XRP’s huge year-end rally was fueled by one simple factor.
Managing partner Jehan Chu says Flare’s next airdrop, which is expected to take place on December 12, has triggered a flurry of retail purchases that took the cryptocurrency from $ 0.30 on November 19 to a high of $ 0.76 only. four days later.
Chu tells the Daily Express that he believes the airdrop, which will give XRP holders a new governance token called Spark, has awakened the leading cryptocurrency from slumber.
“The upcoming airdrop is overloading the XRP bull market and driving the mind-sharing of one of the largest crypto communities crazy.
With the upcoming launch of Flare, a smart contract utility fork from XRP, the pair will attempt to challenge Ethereum’s dominance in decentralized finance and decentralized applications. “
XRP has since retreated as an altcoin market on big reels from a drop in Bitcoin’s price. The crypto asset is $ 0.54 at the time of publication, down 15% in the past 24 hours according to CoinMarketCap.
Ilia Maksimenka, CEO of the PlasmaPay cross-border payments platform, says XRP was on track to hit $ 1.00 before the broad market turn.
Popular pseudonymous analyst Credible Crypto He says believes the current correction is a buying opportunity.
“Being able to buy XRP anywhere between $ 0.38 and $ 0.55 is a blessing. If you have that chance, you’d better take it. There’s no guarantee we’ll get the lower end of this range, hence the dollar cost. lower is the best solution. “
Disclaimer: Opinions expressed in The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that transfers and trading are at your own risk and any losses you may incur are your own responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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