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Home Technical analysis XRP

PSA: Few Days Remain For XRP Holders To Claim Spark Tokens, Here’s How

Tony Spilotro by Tony Spilotro
2 months ago
in XRP
Reading Time: 3min read
Bitcoin
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XRP has a major bullish breakout recently, resulting in an over 200% rally. And while bullish technicals had been building, it was the Flare airdrop and promise of free Spark tokens that helped propel Ripple to current levels.

The Flare airdrop “snapshot” of the XRP ledger takes place at the end of this week, leaving only a few days left to prepare your wallet and claim the airdropped Spark tokens. Are you ready and prepared for the airdrop? If not, here’s how.

Ripple Effect: Why The Flare Airdrop Helped Trigger The Massive XRP Breakout

XRP investors have had a more painful bear market than most other crypto investors, suffering through three years in a row of the worst performance across the market.

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With each subsequent low in Ripple, the army of investors began to fold. Those who were able to hold on, however, have been rewarded well with a surprise 200% rally in Q4 2020.

Related Reading | Underdog Story: Why XRP Could Soon Outperform Bitcoin And Ethereum

In addition to the bullish momentum and resulting ROI, Ripple holders can also claim an equal amount of Spark tokens as part of Flare Network’s upcoming airdrop. The allure of free tokens only accessible by holding XRP, was part of what sent the altcoin soaring recently.

But with all the commotion and focus on Ripple, investors don’t want to miss out on their free tokens, in which there are only three days left to get set up.

xrpusd xrp ripple spark tokens flare network

Bullish chart patterns and technical indicator signals suggested Ripple would rise | XRPUSD on TradingView.com

How To Claim Spark Tokens From Crypto Exchanges Or Through Self-Custody

The Flare Network leverages the XRP ledger but brings in Ethereum smart-contracts in order to run DeFi applications on the Ripple-created protocol.

To claim Spark tokens, the easiest way possible is by keeping XRP stored on any of the cryptocurrency exchanges that support the Flare Network airdrop. These include Binance, Bithumb, Bitfinex, eToro, Crypto.com, FTX, Huobi, Kraken, OKEX, KuCoin, and even straggler Coinbase, which users feared would miss the cut off.

The full list of supported exchanges is available on the Flare website and can be seen below, updated as of December 4. Each exchange will handle it all for you and at some point release the Spark tokens to investors who held Ripple at the time of the snapshot.

xrp spark token aidrop flare network ripple how to

The current list of exchanges supporting the Spark token airdrop | Source: Stedas HR

It is worth noting, however, that anyone interested in participating in the airdrop through any of the supported exchanges must pay close attention to the details associated revealed. For example, Coinbase doesn’t plan on giving users any Spark tokens until an unspecified “later date” and reminds everyone that the tokens are first subject to regulatory scrutiny.

Essentially, there’s a chance you don’t get Spark tokens at all from the supporting exchange, despite their participation in the airdrop. In the end, this ultimately comes down to each region’s regulators and is a reminder of the whole “not your keys, not your crypto” quote that is too often overlooked.

Related Reading | Ripple CEO Says U.S. Regulators Are Holding Back XRP’s Potential

To ensure ownership over any Spark tokens, it starts with taking full ownership of XRP in a wallet you self-custody. Users must also ensure they have access to a non-exchange Ethereum address.

The remaining steps have been graciously outlined by “Wietse” who is an XRP supporter and developer, and include visiting XRPtoolkit.com with a Ledger Nano connected to interact with the ledger and claim the tokens.

After the snapshot date of December 12, 2020, at 00:00 AM UTC, Spark tokens will available for claiming.

Featured image from Deposit Photos, Charts from TradingView.com
Tags: altcoinscryptoflare networkRipplespark tokenxrpXRPUSDxrpusdt
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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