Spark (FLR) News Expected by XRP Investors Arrived
XRP investors have been waking up to New bad news almost every day since last week. The SEC lawsuit against Ripple not only reduced the price by half, but also led many cryptocurrency exchanges to delist XRP. Before this nightmare, good news came from the Spark airdrop program, which played an active role in increasing the price of XRP to $ 0.77.
On December 12, the current image of millions of XRP wallets was recorded. It is known that XRP investors will receive as much FLR as the XRP in their wallets as the current image. Cryptocurrency exchange Bitrue decided to open FLR trading after the amount to be distributed became clear.
FLR deployment may take place on December 30
In a statement, the stock exchange said that FLR tokens will be opened for trading as of January 6. It is stated that flr will have only the XRP transaction pair at first. XRP investors ‘ FLR tokens have not yet reached their wallets, but the Bitrue platform has a significant claim to this. Bitrue stated that the first deployment of FLR tokens will take place on December 30.
The FLR airdrop program had a positive impact on the price of XRP from the first date it was announced to December 12. Exactly after December 12, a downward movement in the price of XRP was observed. The SEC’s case has led to a doping effect on this negative movement, which has led to a price spike.
What does XRP mean for its price?
Distributing FLR tokens and opening them for trading in exchange for XRP may have a different effect on the XRP price. If too many investors decide to buy XRP in exchange for the FLR they have and do not sell them, the XRP price will have a chance to rise due to the classic supply-demand balance. But, of course, investors are also likely to use their free FLR tokens to switch to other cryptocurrencies or perhaps fiat coins. In such a scenario, the received XRP may be sold instantly for other transitions.
The exchange stressed that FLR trading will only be offered to users who make KYC, and users in the United States will not benefit from it.