Various cryptocurrency analysts have taken a bullish stance on the fourth largest cryptocurrency by market cap, XRP, as the number of whales invested in cryptocurrency hit 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, from its current price of around 0. $ 29.
Echoing Scott Melker’s sentiment on XRP, fellow crypto analyst Dave the wave told his more than 39,000 followers he sees cryptocurrency ‘showing strength’ on a pattern which seems to indicate a rise in the near future.
The price of XRP, according to CryptoCompare, has increased by over 23% in the past 30 days as it continues to gain ground, but in the past 12 months it has increased by around 13%, unlike to BTC which rose almost 100% in that same period. XRP appears to be picking up speed, however, over the past 24 hours it has risen 5.9%, compared to BTC’s 4.7%.
Crypto analysis firm Santiment revealed that XRP’s impressive price performance over the past few days has been accompanied by an increase in the number of addresses with large properties.
Crypto investors can buy XRP in anticipation of the Spark token that XRP airdrop holders will receive on December 12, when XRP holders will receive Spark tokens on a 1: 1 basis depending on the number of tokens they hold. .
The airdrop will see Ripple partner Flare handing out a total of 45 billion Spark tokens to XRP holders, excluding Ripple itself and some of the startup’s former employees. The tokens are expected to be distributed to self-depositing XRP investors and those who have their funds on a cryptocurrency exchange or wallet that supports airdrop.
While most of the major exchanges have yet to make any announcements on this, Uphold and Foblgate have announced support. According to Flare’s FAQ page, demand for the Spark token from the XRP community appears to be considerable:
We have been amazed at the interest Flare has shown over the past few days! Since the announcement of the process of preparing your XRPL account to receive Spark on Friday, over 295 million XRP contained in XRPL accounts have configured their accounts to receive the Spark token.
Other exchanges that support airdrop include eToro, CoinField, Bitrue, AnchorUSD, Nexo, and Tokens.net.
Featured image via Pixabay.