HEY GUYS,
Don't take this too seriously, but this is just a heads-up from a few sources I follow that comes straight out of the rumor mill. They are basically saying that a significant amount of savvy investors are supposedly going to dump their XRP ahead of the SPARK airdrop deadline which is December 12th 00:00 AM UTM. When I heard this, it didn't make any sense. But after it was explained to me, I took it into careful consideration.
Apparently, there are those who plan on selling XRP ahead of the deadline while the price is still above $0.55, because of the impending dump that can happen afterwards. I've heard that there are people converting their entire crypto portfolios just to load up on XRP to receive matching SPARK tokens after the snapshot time, and then unloading their XRP directly afterwards. This comes as no surprise, and I had actually considered buying a LOT more XRP in the same manner, just to increase the SPARK reward.
But in this particular scenario, which might NOT play out, IF the price of XRP were to drop severely after the airdrop snapshot, which it probably will, a person selling AHEAD of the deadline could have the possibility of buying back their XRP and paying for the SPARK tokens with money and end up having more of both than what they would have if they held through the snapshot deadline. This would of course require the price of XRP to drop lower than $0.30 for this strategy to play out. And there is no guarantee that it will. But in the event that XRP does dip below 0.30 after the deadline, by the time the SPARK tokens are awarded, the price would also be as low. So that would mean you could buy back XRP and SPARK for cash in the aftermath and end up with even more tokens than what you'd have if you held through the snapshot.
This might absolutely turn out to be rumor, and I am NOT suggesting that anyone sell their XRP in the next day, in anticipation of this happening. That would NOT be wise. HOWEVER, for the "get-rich-quick" people who are lurking, the ones who have not yet bought XRP and plan on buying within the next 24 hours just to receive the free SPARK tokens, you better consider the possibility of this scenario BEFORE you make an impulsive decision.
I am bullish on XRP for the long-haul, there is no doubt about that. So this post is primarily for the new people who think they can get rich overnight. If you are new to the game, consider the fact that a LOT of seasoned cryptocurrency traders know full-well that you are entering the game with absolutely experience, and they will take advantage of you at every turn. That's why you should NEVER invest more than you are willing to lose, and do your research well ahead of making any buying decisions.
For everyone else, the XRP longs, I hope you found this story as entertaining as I did. And that's the sole purpose. I will be getting back to regular XRP technical analysis updates in the future, but thought I would share this as "food for thought"!
Carlton Flowers
The CryptoPro
Don't take this too seriously, but this is just a heads-up from a few sources I follow that comes straight out of the rumor mill. They are basically saying that a significant amount of savvy investors are supposedly going to dump their XRP ahead of the SPARK airdrop deadline which is December 12th 00:00 AM UTM. When I heard this, it didn't make any sense. But after it was explained to me, I took it into careful consideration.
Apparently, there are those who plan on selling XRP ahead of the deadline while the price is still above $0.55, because of the impending dump that can happen afterwards. I've heard that there are people converting their entire crypto portfolios just to load up on XRP to receive matching SPARK tokens after the snapshot time, and then unloading their XRP directly afterwards. This comes as no surprise, and I had actually considered buying a LOT more XRP in the same manner, just to increase the SPARK reward.
But in this particular scenario, which might NOT play out, IF the price of XRP were to drop severely after the airdrop snapshot, which it probably will, a person selling AHEAD of the deadline could have the possibility of buying back their XRP and paying for the SPARK tokens with money and end up having more of both than what they would have if they held through the snapshot deadline. This would of course require the price of XRP to drop lower than $0.30 for this strategy to play out. And there is no guarantee that it will. But in the event that XRP does dip below 0.30 after the deadline, by the time the SPARK tokens are awarded, the price would also be as low. So that would mean you could buy back XRP and SPARK for cash in the aftermath and end up with even more tokens than what you'd have if you held through the snapshot.
This might absolutely turn out to be rumor, and I am NOT suggesting that anyone sell their XRP in the next day, in anticipation of this happening. That would NOT be wise. HOWEVER, for the "get-rich-quick" people who are lurking, the ones who have not yet bought XRP and plan on buying within the next 24 hours just to receive the free SPARK tokens, you better consider the possibility of this scenario BEFORE you make an impulsive decision.
I am bullish on XRP for the long-haul, there is no doubt about that. So this post is primarily for the new people who think they can get rich overnight. If you are new to the game, consider the fact that a LOT of seasoned cryptocurrency traders know full-well that you are entering the game with absolutely experience, and they will take advantage of you at every turn. That's why you should NEVER invest more than you are willing to lose, and do your research well ahead of making any buying decisions.
For everyone else, the XRP longs, I hope you found this story as entertaining as I did. And that's the sole purpose. I will be getting back to regular XRP technical analysis updates in the future, but thought I would share this as "food for thought"!
Carlton Flowers
The CryptoPro