After Ripple’s partial victory over the U.S. Securities and Exchange Commission (SEC), the altcoin sector has seen a significant bullish trend. This legal triumph led to an increase in the rate of XRP (Ripple’s token). It also triggered the emergence of bullish sentiment in the market. However, there is another token that could benefit from the positive wave that has engulfed XRP. It is XRP20 – a new, improved version of Ripple, which is currently in the pre-sale stage.
XRP20 is the second coming of XRP, but with the possibility of passive earnings
A successful investor has a wide portfolio of assets and always seeks diversification to be compensated for the falls by the growth of other coins. It is for this reason that traders invest in new cryptocurrencies.
XRP20 is an Ethereum blockchain-based token (ERC-20) that will aim to capitalize on the revitalized XRP community. The creators of the asset believe that the original coin has no real utility, while the new-generation coin will be able to provide a constant passive income to its holders. In addition, the cryptocurrency is cheaper than XRP and is capable of greater growth due to the added staking option.
Investors can earn rewards in XRP20 by simply storing their assets and accumulating. 40% of the total tokens are allocated to pay for transaction confirmation and network security.
It should also be noted that XRP20 is an altcoin with a deflationary burn mechanism. Thus, 0.1% of each transaction is sent directly outside the network. According to the information provided on the website, 10% of the total volume will also be burned to reduce supply and stimulate investment.
The goal of the team behind this project is to provide a second chance to those who previously could not make money with the original XRP coin. The creators emphasize that only institutional market participants could buy this cryptocurrency during the presale phase. However, XRP20 aims to democratize access to the token by fostering a more diverse and robust community, also known as the “XRP Army.”
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As a rule, promising long-term projects have a clear roadmap that spells out plans for the future development of the platform. XRP20 has a four-step roadmap.
The coin’s journey begins with the presale and parallel awareness raising and creating a level playing field for crypto-enthusiasts. The developers expect to convey to traders how easy it is to acquire the coin, as well as share with them what improvements have been made compared to XRP.
The next step will be to activate the token burning mechanism and launch it on a decentralized exchange. This process will automatically reduce the supply of coins, increasing their scarcity. The team also realizes that building an active community is crucial for the future of XRP20. For this reason, they aim to add staking as soon as possible, which will reward followers for their commitment to the project.
Overall, XRP20’s innovative features, supporter-led development, and strong roadmap make this cryptocurrency one of the most promising in 2023. The future of the new digital coin looks optimistic considering that the project raised $467k in 48 hours of pre-sale, which demonstrates the interest of market participants. Within one round of presale, the value of XRP20 is $0.000092.
The advantages of XRP20 are considered to be:
- The opportunity to buy the asset at a low cost and take advantage of steaking.
- The continued stock burn of the XRP20 token will have a significant impact on supply, which will drive up its value.
- The more coins a trader sends to steaking, the higher the reward percentage.
- Tokenomics that supports the interests of followers.
XRP rate forecast – is this token worth your investment
Recent court rulings in favor of Ripple have paved the way for a surge in investment funds based on the XRP cryptocurrency. According to analyst firm CCData, XRP-based funds saw a 33.2% increase in total assets, or about $65 million.
The coin itself has returned to the lists of various exchanges and even appeared on new platforms. According to a recent press release from bitcoin ATM operator CoinFlip, XRP has been added to that firm’s machines.
However, after a spectacular rise in July, the cryptocurrency started August with a fall, losing support at $0.68. As of the current moment, XRP is trading around the $0.66 mark. Over the past 24 hours, the value has fallen by 6.66%, with the coin’s market capitalization decreasing by 1.13% and trading volume dropping by 18.8% overnight. The price of the XRP digital currency is still more than 120% above its lowest point in 2022.
Industry experts emphasize that the cryptocurrency is meeting resistance but is showing less price deviation at the support trend line. The RSI (Relative Strength Index) indicator shows a positive divergence, which increases the chances of a bullish reversal and a potential upward breakout.
If XRP breaks above the resistance level of $0.69, it could again reach $0.80 or even rise to $1. Conversely, a bearish fall to the price of $0.65 could trigger a further decline down to $0.60.
One analyst is confident that XRP is on the verge of a sharp rise. According to Bret Hill’s prediction, the price of the koin will reach $1.40 within the next two weeks. This statement may prompt investors to reconsider their positions given the potential gains.
Wrap-up
The cryptocurrency market is very volatile. Price movements depend on a multitude of factors. For this reason, it is crucial to stay abreast of market trends, conduct thorough research, and make informed decisions rather than relying solely on past performance.
While historical data can provide valuable insight into the behavior of a crypto asset, it should not be the only factor driving investment decisions. The key is to strike a balance between learning from the past and adapting to an ever-changing landscape.
XRP20 is an emerging token with innovative features that give it added value compared to XRP. Additionally, being in the pre-sale stage, XRP20 has more room for growth than the original asset. Funds raised during the pre-sale will support the expansion of the new ecosystem.
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Author: Saifedean Ammous, an expert in cryptocurrency economics.
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