A new ripple is stirring with rumors that XRP may find a place in Robinhood’s crypto lineup. These speculations are a boon for XRP20, the recently-launched stake-to-earn token that mirrors XRP’s massive 100 billion supply but stands distinct from its Ripple-issued cousin. The XRP20 coin, which conducted impressive first-day trade numbers on Uniswap, positions itself as the better version of XRP—a perception buoyed by positive market sentiment following a favorable court ruling that deemed XRP as not a security in the retail sphere, although the SEC is challenging the verdict.
If Robinhood opens its platform to XRP by end-2023, the resultant enthusiasm will likely spill over to XRP20, which has already demonstrated a solid trading debut. Currently priced at approximately $0.000948 on Uniswap, XRP20 has 23 billion tokens on stake, a substantial 22% chunk of its total supply, and 56% of its presale allocation.
With a deflating asset, XRP20 employs a mechanism that sends 0.1% of every transaction to a burn address, effectively boosting the price of remaining tokens. Token burning along with the coin’s mass adoption, evidenced by its 2,670 holders, make XRP20 highly attractive.
Security is always paramount in cryptocurrency transactions and XRP20 does well here— its smart contract is free of major issues, certified by an audit from blockchain security firm – 0xguard. As for reliability, XRP20 shows a 97.2% community trust gauge since 71% of $468k liquidity was locked for a month on DEXTools.
Pitching itself as a passive-income generator, XRP20 has reserved 40% of its supply for community rewards over the next four years. These rewards can be claimed or tokens withdrawn from staking via the XRP20 dashboard.
In terms of short-term market performance, XRP20 is cautiously optimistic— exhibiting a modest incline without triggering alarm bells of unsustainable growth. Exciting prospects loom for XRP20/WETH traders with an enticing risk-reward ratio of 1:3 when buying at the current price level, targeting the all-time high.
Moreover, XRP20 beats XRP in decentralization with no set-aside tokens for founders, and team members. Just as pivotal is the fact that it operates on Ethereum, the most liquid and widely adopted decentralized finance (DeFi) ecosystem in crypto, essentially limitless in potential. To put it shortly, buying into XRP20 today might be the best bet for a blend of passive income and capital gain in the current market. Let’s see how this ripple unfolds.