Price of Ripple’s XRP Rises Due to Upcoming Sologenic Airdrop

Ripple’s digital asset, XRP, has already appreciated more than 10% in the past seven (7) days. The losses that a majority of crypto currencies made last week have thus been lifted. In addition, XRP holders expect an airdrop from a project called Sologenic.


XRP rose 10% in the past week

The XRP is up 54% this year and controls 1.76% of the entire $2.3 trillion crypto economy. Yesterday, XRP traded between $0.83 and $0.91. While a 54% gain is quite a lot, XRP’s gain is much lower than most crypto assets in the top ten.

In addition, the price of XRP is still 74% lower than its all-time high almost four years ago. XRP has a large number of pairs, but Tether (USDT) controls 62.97% of all trades on December 20. Tether is followed by 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 GBP (0.75%).

XRP's Market Price Gains on Upcoming Sologenic Airdrop, XRP Whales Start Moving Millions
XRP/USD. Source: trading view.

Some of the most active exchanges trading XRP today include Binance, Bequant, Hitbtc, Crypto.com, Huobi Pro, and Huobi Japan. XRP has also seen a lot of action from whales in the past 48 hours. Whale Alert saw 17,700,000 XRP worth $15 million from Bitso go to an unknown wallet. In addition, 20,000,000 XRP was also transferred from Bithumb to an unknown wallet.

Whale alert also saw other XRP transfers of 20,000,000 XRP to Coinsph and 20,000,000 XRP to Bitso. Finally, it also saw an entity that moved 449.3 million XRP in two separate trades on December 19.


Sologenic’s SOLO

Whales aside, some believe the demand for XRP comes from the people who want a $500 million airdrop. Sologenic, a company that uses XRP, plans to issue a coin called SOLO tokens to XRP holders. The project aims to become the most influential blockchain-based project in the world. In doing so, it aims to bridge the gap between traditional financial markets and crypto currencies.

In addition to the upcoming SOLO snapshot, the project is also doing another airdrop with a token called Coreum (CORE). Sologenic explains that SOLO will be available for trading on the project’s decentralized exchange. In addition, they explain that a total stock of 400,000,000 SOLO will be available. The Sologenic team says that the SOLO coins will be spent on the XRP Ledger.

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