Flare Network is almost ready to conduct an airdrop for XRP users for which various exchanges are showing support. Coinbase is among different exchanges that are showing support for the upcoming spark token airdrop to XRP users. It is one of the most important for all XRP users because it is meant to increase the price of the currency. Not only XRP, but the whole crypto community seems to be quite excited about the upcoming airdrop by the Flare Network.
Coinbase Revealed XRP Holders to Be Airdropped on 1:1 Ratio
As Coinbase has announced that they will be supporting the upcoming Spark token airdrop, they have made other revelations as well. As per the announcement, XRP holders will be airdropped with Spark Tokens at the ratio of 1:1. This ratio will also depend on the number of XRP the users are having during the snapshot which will take place on December 12, 2020. The distribution of the token will take place in the next year after the Flare Network goes live.
Positive Effect on XRP’s Price
As the whole crypto community is excited about this event, there are predictions that it might have a positive effect on XRP’s price. Brad Garlinghouse, CEO at Ripple, recently had an interview with CNN, where he talked about the upcoming airdrop event. He believes that this event is having the potential to boost XRP’s price to a great extent. According to him, price appreciation is possible with the increase in utility on the ledger. He seems to be equally excited for the event, just like the XRP holders. It has been noticed from the previous events that Garlinghouse gives huge importance to the utility. According to him, it is one of the major factors that helps in driving the adoption to a very great extent.