$XRP, the native token of the Ripple payment network, is one of the most well-known cryptocurrencies in existence. It has the distinction of being one of the first cryptocurrencies to be launched. While investors continue to wonder about the future performance of $XRP, a new token has emerged to address the shortcomings of this once-great cryptocurrency: XRP20 ($XRP20).
XRP Price Performance – How XRP Climbed the Ladder
Ripple, or XRP, can be considered a descendant of Bitcoin, with concepts that date back to the early 2000s. Its centralized approach initially provided security, speed, and throughput. However, this comes with a lot of downsides, as more centralized networks are at risk of being influenced by bigger players and can be affected by a single point of failure.
In 2021, Ripple (XRP) experienced a surge in prices, but throughout 2022, the prices declined significantly. As of August 1, 2023, one XRP token was valued at $0.70. In contrast, Ethereum’s price continuously reached new all-time highs, something XRP did not achieve.
XRP’s price spikes occurred relatively late, only emerging in early 2021, while most other cryptocurrencies experienced similar spikes in late 2020. These price spikes were triggered by a legal complaint filed by the US SEC against Ripple in November 2020, causing XRP’s price to drop from around $0.70 to $0.20.
Besides this, XRP has also faced a lot of criticism for many aspects of its design. Critics have pointed out that the design goes against the decentralised nature of cryptocurrencies. They have also pointed out that Ripple cannot create or destroy $XRP at will.
XRP price predictions for 2023 differ significantly across various scenarios. High forecasts range from $3 to $4.16, while low forecasts range from $0.348 to $0.559944. The average prediction for XRP’s price in 2023 ranges from $0.579942 to $1.47, influenced by different months and analysis methods.
All of this points towards a positive outlook for XRP. However, there is a new altcoin that promises to mimic XRP’s success in its early days – XRP20.
Introducing XRP20: Join the Next Evolution of XRP
XRP20 is the new ERC-20 token that rekindles the passion of XRP enthusiasts with added staking. It is ideal for investors who missed the opportunity to buy the original XRP at its all-time low of $0.0028. Now, with XRP20, investors can easily invest in it at a rate that is 30 times cheaper.
The creation of XRP marks the dawn of a new era for XRP, which aims to provide a seamless experience to buy, sell, and HODL without being a security token. Unlike the original $XRP, XRP20 empowers retail investors with an on-chain staking mechanism. Holders of XRP20 can stake their tokens to earn passive income.
XRP20: Tokenomics Model
XRP20’s tokenomics are inspired by the original XRP. However, the team behind the project is offering users the opportunity to purchase XRP20 at an incredibly low price. Such a low price makes it easier for a larger community of enthusiasts to be a part of a project.
To let everyone experience what a deflationary token should be about, XRP20 employs a buy-and-burn mechanism. In other words, it sends 0.1% of every buy and sell to a burn address. It has allocated 20% of its total supply towards burning, steadily reducing the supply and increasing the token’s scarcity over time.
How do I invest in XRP20 Presale?
Unlike the past, when retail buyers missed XRP’s ICO in 2012, investors now have the opportunity to purchase XRP20 in its presale at an even lower price than $0.01, which was $XRP’s entry price. Since XRP20 is not a security, it stands as an ideal investment for crypto-savvy investors.
Buying XRP20 is very easy for even the least computer-savvy investor.
- To claim the token, the user has to send ETH or USDT to their wallet.
- They next have to connect their wallet and buy using the buy widget available on the official website. There is no sales tax for presale transactions.
- The tokens will be ready to be claimed on listing day from the official website in the same wallet.
XRP20 Roadmap: Pioneering the Future of XRP
XRP20 has put forward an ambitious roadmap that is sure to spark interest among its investors. It has been divided into 4 stages as follows:
Stage 1: Presale and Token Distribution
The team’s first focus is to raise awareness about the project and offer a second chance to novices in the crypto market. XRP20 is planning to host a fair and transparent presale event in an effort to establish a strong community.
Stage 2: Pre-Launch Marketing and Awareness
During the presale phase, there are plans to start marketing campaigns to highlight the features and ease of acquiring XRP20. This will emphasise the token’s value proposition as a second chance to own and stake the token to earn passive income.
Stage 3: Launch and Burn Activision
After a successful launch on the DEX, one of the core initiatives is implementing a token burning mechanism. This feature automatically reduces the token supply with each transaction, which makes it deflationary in nature.
Stage 4: Post-Launch Community Staking
XRP20 wants the community to actively engage with the token and drive its growth. Staking is one of the projects it is emphasizing, as it is crucial in incentivizing community members to lock up supplies.
Conclusion
XRP, one of the biggest cryptocurrencies at one point, is going through tumultuous times at the moment. This is something that has worried investors and forced them to look elsewhere. XRP20 has emerged as the newer version of XRP, aiming to solve many of the shortcomings of the original token. With the presale now going on, now is the correct time for investors to join the project and acquire the tokens at a deflated price.
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