The Flare Network just took the snapshot of the addresses for XRP (RIPPLE XRP) to be used in the airdrop on Ethreum. The airdrop will essentially give crypto holders a 1:1 airdrop for the new token on the Flare Network contract, which can then be used like XRP. The snapshot earlier today means that the network tracked which wallet addresses own XRP. As such, XRP holders can freely sell their cryptocurrency holdings now — especially with a decent profit from an enormous upside move — without impacting their FREE airdrop holdings for these cryptos.
With a lot of the whale XRP holders selling their supply, it makes sense we will likely continue to see some downside pressure, especially with added fear and panic from a pullback. XRP saw a TON of volume, meaning a LOT of buying high when prices were skyrocketing. FOMO was real, so these are the buyers who will likely panic sell as the price starts to fall, thereby increasing the bearish sell pressure.
Ultimately, we will need to find a support floor. In this video, we will look at the key support levels for XRP if we continue to see selling pressure and prices pushing down.
XRP news has basically been pushed out already, so now we will need to see what it would take to reverse a bearish mentality after a HUGE movement higher. These skyrocket prices typically end up like this, so this time it’s definitely no different. Analysis of fundamentals and technicals allows us to look at some price predictions and targets for XRP.
How well is this mixed-sentiment crypto going to perform, and what could the future potentially look like from here?
Let’s talk about price predictions, XRP price targets, and more in this video. Are you a fan of XRP Ripple RippleNet? Share your thoughts below!
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The content in this video is my own personal opinion which I have made from my own personal analysis. The views are my own beliefs. Always be cautious when investing in cryptocurrencies. This should not be treated as financial advice. Never invest more than you can afford to lose.
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