Ripple are making global payments happen very quick and affordable than ever before. Those who are looking at Altcoins with tremendous amount of potential would not deny the capabilities of XRP.
Forbes reported, “XRP, a digital token developed by Ripple, made huge gains through November ahead of a hotly anticipated giveaway of a new cryptocurrency, known as an airdrop. Ripple controls around 60 billion of the 100 billion XRP tokens that will ever be created.”
The Spark (FLR) airdrop was an attempt by Ripple to stand out in the world of cryptocurrency. Flare Network is a new Protocol which has been added by Ripple to the XRP ecosystem. The expectation was that more supporters will be coming to the network as they have included the decentralized finance or DeFi functionality in the XRP ledger.
Spark (FLX) is the native token of the Flare Network. Holders of XRP during the airdrop received free SPARK tokens, the token did a good job of bringing the price of XRP up; however, now that the air drop is over, the side effects are seen in the price plunge.
Commenting on this, Sydney Ifergan, the crypto expert tweeted: “Price trends are value driven. It is not possible for Ripple (XRP) to enjoy a well-sustained price hike with just an air drop. The Spark air drop was just an attention grabber.”
Ripple (XRP) Democracy
We cannot forget how Ripple was under consistent fire in the past for having sold millions of tokens on a regular basis.
As Schwartz previously stated, public blockchains are very democratic and if the majority of them wanted a rule change, there is nothing the minority will be able to stop them.
So, if all nodes, validators, and the community “at large” agreed that the XRP held in escrow by Ripple should be burned, it should be burned and whether they will get majority is the question.
Any kind of growth that XRP can prospect of any other blockchain can prospect should come from the community as a whole.
When the Spark tokens air drop created the buzz perhaps the 81,500 Ripple owners were excited; however, what after the excitement is the question.
“Crypto stakeholders who registered their XRP in eligible accounts collected free Spark tokens in a 1:1 ratio when Flare held the “snapshot” day on December 12th.” So, that was just the glitters of hype in the community. To create a well-sustained price hike there should be something of superior value that will happen.