NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: WLFI Price Dips 7% As Eric Trump Leaves World Liberty Treasury Company ALT5 Sigma

Sell the News? XRP Addresses Grow Significantly Leading Up to Spark Airdrop

Cole Petersen
Cole Petersen
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

XRP has seen some wild price action over the past few weeks, with the token’s recent break above its multi-year trading range between $0.21 and $0.30 sending it on a parabolic uptrend that eventually let it as high as $0.90 on Coinbase and some other exchanges.

It lost its momentum here, however, and has since erased a good chunk of these gains as its price drifts towards $0.50.

Where it trends in the near-term will undoubtedly depend at least partially on whether or not bulls can continue defending this price level, as it has been tested and confirmed as support on a few occasions.

One fundamental event that has backed this uptrend is the upcoming Spark airdrop to XRP holders, widely seen as the catalyst for this rally.

The success of the Uniswap (UNI) token airdrop has cleansed the filth from this term and has resurrected its popularity.

Data does seem to indicate that the Spark token airdrop has sparked an XRP accumulation phase, as the number of wallet addresses has risen sharply as of late and has yet to see any sizeable decline.

This could also mean that after the airdrop completes, the cryptocurrency will see a “sell the news” event that sends it reeling lower.

XRP Thwarts Intense Selloff as Bulls Defend $0.55

At the time of writing, XRP is trading down just over 3% at its current price of $0.55. This is around the price at which it has been trading throughout the past couple of days.

Overnight it did dip as low as $0.52 before finding some strong support that ultimately allowed it to rally higher.

The buying pressure here was quite intense, and it rebounded alongside Bitcoin and Ethereum – which both also sold off overnight.

Data Shows Wallet Addresses are Increasing 

One analytics firm pointed to some interesting data in a recent post that shows just how big of a role the Spark airdrop has played in this recent price run.

Santiment shared this data in a recent tweet, explaining that XRP’s address count has been spiking up to the Spark airdrop – which is set to take place today.

“Leading up to tomorrow’s SPARK airdrop, Ripple’s addresses have grown rapidly. Particularly, addresses with 10M or more tokens (currently $5.67M or more) have risen to an ATH # of 339. This looks promising for the tier that has the most XRP at stake.”

XRP

Image Courtesy of Santiment.

Because it does seem as though a lot of people bought XRP with the sole purpose of receiving the spark airdrop, its distribution could end up being a “sell the news” event that causes XRP’s price to plummet.

Featured image from Unsplash.
Pricing data from TradingView.
Tweet123Share196ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP

Crypto Analyst Advises XRP Investors To ‘Not Get Caught’, Here’s What He Means

Austin Hilton, a well-known crypto analyst, has issued a fresh warning to XRP investors, urging them not to “get caught”...

Scott Matherson 22 hours ago
XRP Price Action Heats Up

XRP Price Action Heats Up – Bulls Eye $3.00 Breakout

XRP price is up over 5% and has tested the $3.00 resistance. The price is now consolidating gains and might...

Aayush Jindal 1 day ago
XRP

XRP RSI Remains Bullish As Support Levels Hold, Price Eyes Break Above $3.6

Despite recent volatility and price swings, XRP has remained firm above critical support levels, with technical indicators suggesting a possible...

Scott Matherson 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP Price Pullback Limited

XRP Price Pullback Limited – Bulls Prepare for Next Leg Higher

Aayush Jindal 8 hours ago
XRP

XRP Price Setting Up For Next Leg With Expected Targets Reaching $19.27

Scott Matherson 15 hours ago
XRP whale koopgolf van $340M - instituties stappen massaal in

XRP whale koopgolf van $340M – instituties stappen massaal in

Lars Diederiksen 21 hours ago

Premium Sponsors

Press Releases

  • パイネットワーク...

    9 minutes ago
  • hyper presale

    Bitcoin chuẩn bị bùng nổ sau khi cắt giảm lãi...

    32 minutes ago
  • miner

    Earn $9,700 Daily with Ease — Open Miner Empowers You to...

    56 minutes ago
  • 5 Meme Coin Tiềm Năng Nên Mua Tháng 9 – Top Chọn...

    1 hour ago
  • Các altcoin

    Biến $300 Thành $30,000 Với Các Đồng Coin Tiềm...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.