Ripple’s (XRP) Price Rises Ahead of the Sologenic Airdrop

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Ripple's (XRP) Price Rises Ahead of the Sologenic Airdrop
Ripple's (XRP) Price Rises Ahead of the Sologenic Airdrop

In the past 7 days, the value of the digital asset xrp has risen by more than 10%, eliminating the majority of the cryptocurrency losses from the collapse of the crypto market last week.

Sologenic SOLO Airdrop triggers demand in Ripple

According to Whale Alert data, someone moved 449.3 million XRP on Dec 19 and 17.7 million XRP on Dec 21. Additionally, XRP holders are also hoping for an airdrop from a project called Sologenic.

In addition to the whale movement, some people believe that the demand for XRP comes from people looking to get $500 million in airdrops. Sologenic is a company that uses XRP and plans to issue a token called the SOLO token to XRP holders. The project aims to become the most influential blockchain-based project in the world by bridging the gap between traditional financial markets and cryptocurrencies.

In addition to the upcoming SOLO Airdrop, the project also used a token called Coreum (CORE) for another airdrop. Sologenic stated that SOLO will be able to trade on the project’s decentralized exchange platform (Dex) with a total supply of 400,000,000 SOLO. The Sologenic team stated that SOLO coins are issued on the XRP ledger.

XRP is up 10%, With Whales Moving Hundreds of Millions of Tokens

The crypto asset xrp (XRP) and its market boomed as the digital currency rose more than 10% in the past week. XRP is up 54% year-to-date (YTD), which is 1.76% of the $2.3 trillion crypto economy. On the final day, XRP changed hands at a price of $0.83 to $0.91 per unit. While the 54% year-to-date return is good, XRP’s 12-month return is much lower than that of most crypto assets in the top ten.

In addition, XRP is still 74% below the all-time high (ATH) of crypto assets on January 7, 2018, almost four years ago. There are innumerable pairs of XRP, but on December 20, Tether (USDT) accounted for 62.97% of all transactions, 2021. KRW (11.93%), BTC (5.97%), USD (5.34%), TRY (2.62%)), JPY (2.40%), BUSD (2.13%), EUR (1.92%), USDC (0.91%) and British pound (0.75%).

Some of the most active exchanges trading XRP today include Binance, Bequant, Hitbtc, Crypto.com, Huobi Pro, and Huobi Japan. In the past 48 hours, XRP has also seen a lot of whale movement. The bot also looted $20,000,000, which Bithumb transferred to an unknown wallet.

At the whale parser, 20,000,000 XRPs were transmitted from other XRPs to Coinsph and 20,000,000 XRPs to Bitso.