More than 120 million XRP in motion: what does it mean for market
XRPL distributed ledger explorer records large movements of XRP tokens
The community expects growth XRP prices due to distribution of Spark tokens
Ripple continues to buy its own tokens
Over 121 million XRP Tokens Moved After Announcement of Spark Airdrop. According to terms of the campaign, users will be able to receive as many Spark tokens as XRP is in the owner’s account
Coinbase pushes XRP price up
The last some weeks three digital asset by market capitalization keeps in suspense everything crypto community. Immediately following the announcement of the upcoming AirDrop of Spark tokens, the largest cryptocurrency exchanges began to massively buy XRP, themes most setting in motion more 121 million coins. The American cryptocurrency exchange became the flagship in the process of buying tokens Coinbase, which previously announced its support for the distribution of Spark tokens developed with the participation of Ripple.
The conditions for participation in the airdrop are simple: users will receive the same quantity Spark tokens, how much they hold on their XRP token accounts. To satisfy user requests, cryptocurrency exchanges began to aggressively purchase XRP tokens.
According to data provided by the XRPL Monitor platform, large cryptocurrency sites purchased XRP tokens worth about $ 73 million. The main buyers coins were made by such exchanges as Coinbase, Bitfinex, Binance, Bittrex, BitGo, which intend support the distribution of Spark tokens.
Recall that immediately after airdrop announcements XRP token price has risen more than than up 124% on a weekly scale and tested a 2-year high at $ 0.78.
What Happens to XRP Price
November current of the year has become one of the best months for the XRP token. Early last month price XRP has risen several times under the influence of external factors. Previously edition BeInCrypto reported that in the first week of November, Ripple bought its own tokens for $ 46 million. stated in the company, the buyback of tokens is aimed at improving market.
After November 20, the price of the XRP token rose by 70% and came close to the key $ 0.5 mark. The coin has become the growth leader in the top ten cryptocurrencies. Ripple’s Market Cap Exceeded 20 billion dollars, and the average daily trading volume reached $ 17 billion.
When this Ripple said it is ready to burn 50 billion XRP tokens (the total supply of coins is 99.9 billion XRP) if such a decision will be accepted by the community the project. This was announced by Ripple Chief Technology Officer David Schwartz. By opinion Schwartz, Ripple Can’t Do Nothing, if the community decides to reduce the amount of XRP tokens in circulation.
On moment writing the article the XRP / USDT cost was $ 0.53.
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