Potential XRP Dump Before SPARK Airdrop Snapshot on December 12, 2020, 00:00 AM UTM?
/SNEAKY STRATEGY COULD DERAIL PLANS FOR XRP/SPARK PROFIT SEEKERS
A word of warning: Rumors about of a very crafty and street-wise strategy could put a serious dent in your plans to profit from the XRP/SPARK token airdrop are circulating in the cryptocurrency world. We don’t know if this will play out, but it would be wise to take serious consideration of the possibility that this could play out.
As you probably know, there will be a snapshot taken on December, 12th, 2020 at 00:00 AM UTM time of all XRP held on approved centralized exchanges that are supporting the SPARK token airdrop. This works out to be 6PM Central Standard Time on Friday, December the 11th where I live.
The prospect of gaining the free SPARK token has caused a run on the price of XRP ahead of the snapshot deadline. There are stories of investors converting entire cryptocurrency portfolios to XRP in anticipation of maximizing the amount of free SPARK tokens to be received, and we are seeing this reflected in the current price of XRP.
But what I am hearing from a handful of key sources is that there is a hidden strategy being executed by crafty investors to take advantage of the unsuspecting retail investors who are not considering all of the possibilities that lie outside of the obvious.
It is said that these investors are planning on dumping their XRP positions AHEAD of the SPARK snapshot deadline. But why? How could this be profitable in any way? The following is a possible scenario that many have not considered.
Here are the details…
The price of XRP could dump after the SPARK token snapshot, due to the freeloaders who are only holding long enough to receive the matching tokens. For those who have converted their portfolios for this reason alone, once the benefit of the airdrop has been received, there would be no reason to continue holding XRP for the short-term.
IF the price of XRP falls to as low as $0.30 USD (or lower) post-airdrop and languishes for a period of time, this will drag down the value of the SPARK tokens once the airdrop takes place at a future date. If you consider the current trading price of XRP, there is a mathematical possibility of leveraging more XRP and SPARK tokens if a savvy investor were to sell at a high enough price ahead of the airdrop.
In this scenario, selling ahead of the airdrop snapshot deadline could produce an amount of money greater than the value of XRP plus the free SPARK tokens after a price decline. How? A person could invest the funds from selling prior to the XRP deadline into both XRP and SPARK at the market prices AFTERWARD and end up with more of each token than what they would have if they held through the airdrop snapshot deadline.
The possibility of this playing out depends on the number of investors executing this strategy being greater than those who don’t. This is not financial advice, and I am not advocating or suggesting that anyone sell their XRP holdings ahead of the snapshot deadline. But I would issue a strong word of warning to impulsive new investors who are still considering buying before the deadline in hopes of getting rich overnight.
It is always best to be informed of how ANYTHING can happen in the tumultuous world of cryptocurrency that could blindside you. There are just too many ways that a new investor could be taken advantage of or affected in an adverse financial way. That’s why ALL scenarios must be taken into careful consideration.
Carlton Flowers
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