At 03 a.m. today, XRP faced a sudden sale and fell to $ 0.5100 after the purchase of the snapshot, which XRP owners were eagerly waiting for. Along with last night’s decline, XRP increased its loss over the past 24 hours to 5.05%. XRP is trading at $ 0.5262 as of broadcast time.
XRP, saw sharp price movements over the past few weeks and some stayed there for many years trading range between $ 0.21 to 0.30 from the crypto money with the emergence of a parabolic uptrend showing some exchanges such as Coinbase had caused to rise up to $ 0.90.
However, XRP lost this upward momentum and erased some of its significant gains by anchoring around 0.50. Where the trends are in the near term will undoubtedly depend on whether the Bulls can continue to defend that price level.
AirDrop May Suffer Drastic Fall
One of the main events that supported this upward trend was the Spark AirDrop, which XRP owners could benefit from, which is widely seen as the catalyst for this rally. The data shows a sharp rise in the number of wallets due to Spark Airdrop, and a backlog phase is taking place as XRP has not yet seen a huge drop. This can cause a drastic drop when the airdrop is complete.
XRP Bulls thwart heavy selling
XRP marks a 5% loss with its price now at $ 0.52. That’s pretty close to the price it’s been trading for the last few days.