High stakes are on the horizon with a brand new cryptocurrency making its way to the tech-sphere: a derivative coin of Ripple’s XRP known as the XRP20 token. It’s hard to ignore the magnetic pull of such a utility, especially when it resonates with the popular ‘Meta 2.0 theme’ that leverages existing brand names and promises to replicate earlier return-on-investment successes.
XRP20, priced at $0.000092 a token in its presale – 30x cheaper than XRP’s all-time low traded price- aims to raise a minimum soft cap of $1,850,000. Hitting this target is expected to be a walk in the park given the explosive interest it attracts. With no tokens set aside for founders or team members, this coin takes the trophy for providing equal opportunities to all buyers.
Attracting attention with its staking and burn mechanism, XRP20 appears to be one of the potential hot cakes of 2023. Ten percent of the total token supply is expected to be burnt, while 40% is earmarked for staking and decentralized exchange liquidity. The entire plotting strategy is devised to enhance the scarcity value of the coin.
As a cherry on top, XRP20 alleviates token centralization concerns and introduces on-chain staking unlike XRP; effectively making it possible to earn passive income from your holdings. It implements an innovative staking system that mimics BTC20, with a predefined schedule formulated by the team to reward stakers proportionately over time, considering the number of tokens owned relative to the total supply.
Backed by one of the most dynamic communities in crypto, the XRP Army, XRP20 has high hopes but, it must be remembered that nothing in the world of cryptocurrency is without risk. In the wake of broader macro concerns, there’s a slight slowdown in the advancements of XRP price. This state of the market appears to be a breather period, considering the substantial gains that both XRP and XRP20 have chances of bagging when the crypto market fires up again.
ChatGPT Pro predicts XRP20’s potential to pump up to $25 in a six to twelve-month timeline, offering early buyers high alpha returns. However, as promising as it may seem, potential investors should exercise due diligence. Enthusiasts are advised to visit the XRP20 website and conduct their own research before committing their funds to ensure the risk aligns with their personal tolerance.
Lastly, it’s worth pointing out that XRP20 operates independently of XRP or Ripple Labs, and is not considered a security. The world of crypto is known for its high volatility and uncertainty, and this new token is no exception. It’s a thrilling but potentially perilous adventure, therefore caution is key.
Source: Cryptonews
