THE XRP listing rumors on Robinhood are soaring, and it’s a good news for XRP20the “XRP on Ethereum” yield coin that just launched and continues to see its prices consolidate above its listing price of $0.00092. The stake-to-earn token XRP20 began trading on the decentralized exchange Uniswap on Tuesday August 22, already accumulating a transaction volume of more than $1 million.
XRP20 mirrors the supply of 100 billion XRP but has no affiliation with Ripple, the issuer of the XRP token. Nevertheless, XRP20 positions itself in the market as a better version of XRP, meaning it will benefit from the bullish sentiment surrounding this ecosystem since a recent ruling in the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Market participants have indeed viewed the judge’s decision as a victory for Ripple after stating that XRP was not a security when sold to individuals. The SEC nevertheless appealed this decision.
Will Robinhood relist XRP? More good news for XRP20
The result of all of this is that a number of exchanges have reassessed their decision to remove the XRP token from the list. Coinbase, for example, relisted XRP. There are now rumors that online broker Robinhood could follow suit. The rumor has been growing in recent days on X (formerly Twitter), claiming that Robinhood could list XRP before the end of 2023.
What is good news for XRP is, by association, good news for XRP20: the positive news flow is likely to encourage buying of XRP20 after its strong debut. Priced at $0.000948 on Uniswap, according to the latest data from DEXTools, there are now 23 billion tokens stakedwhich represents 22% of the total supply and 56% of presale allowance. Forty percent of the tokens are allocated to rewards, with 10% going to liquidity and DEX burning.
Moreover, XRP20 is a deflationary asset. The burn mechanism works by sending 0.1% of each transaction to a burn address, removing that amount from circulation and mechanically increasing the price of the remaining tokens. Result: Enthusiasm for “Version 2” coins has not diminished and there are currently 2,670 holders of the token. In less than 24 hours, the coin earned a score of 99/99 on influential trading and data site DEXTools.
71% of the $473,000 liquidity in the XRP20/WETH pair is locked on Uniswap V2
A perhaps more important parameter to take into account is the fact that 71% of the cash injection of $473,000 is blocked for one month. This blocked liquidity is a indication of team commitment towards the project and means that there is no chance of a rug pull or similar harmful activities by developers.
Since the locked in liquidity became apparent on DEXTools, community trust gauge increased to 97.2%. However, buyers do not need to rely on the automated systems of sites such as DEXTools and Dexscreener to verify the security of tokens, although these two sites have no issues with the XRP20 smart contract.
Indeed, the XRP20 team has left nothing to chance when it comes to security to reassure potential buyers. There 0xguard company, highly respected in the world of blockchain securityamconducted a smart contract audit of XRP20. And, this one is now posted on the website for the public to read: no high or medium severity issues were detected with smart contracts.
Earn passive income for 4 years with a return of 44%
While there is no affiliation of XRP20 with Ripple or XRP, the former mirrors the latter’s token supply, at 100 billion, but with token rewards issued for each ETH block produced. XRP20 is therefore a monster when it comes to passive income, because the innovative XRP20 project is funded by allocating 40% of the token supply to the payment of community rewards.
Rewards will be paid out over the next four years. XRP20 runs on the Ethereum blockchain and 3,750 tokens are issued per ETH block. The 7-day lock-in rule applies to all staking initiations, not just tokens staked prior to listing, and tokens continue to earn an annual return as long as they are staked. Stakeholders can claim their rewards by clicking on the claim button or withdraw their tokens from staking by clicking on the “remove staked tokens” button on the XRP20 staking dashboard.
XRP20 has support above the listing price: an ideal buy setup for 3x gains
Since this morning during the European session of the market, the XRP20 has started to rise following a slight progression. For now, the room is presented under the best auspices with a perfect behavior: neither too fast nor too slow in its progression. If the price rises too quickly, it creates gaps and a large sell trade can lose a lot due to the lack of buyers at various levels below the sell trade to offer support. Buyers’ willingness to enter the fray when the price falls below the listing price of $0.000092 is also supporting the price.
The odds of XRP20 reclaiming its high of $0.0001336 have increased significantly over the past few hours as market sentiment shows bullish signs following the price crash of SpaceX, Elon Musk’s rocket company ditching Bitcoin. And, now, the rumors of Robinhood reopening XRP trading and the scenario of an XRP20 as a second chance to access the low priced XRP price, an entry price for buyers, are very supportive of the token.
THE risk-reward ratio of 3 when buying at the current price level, with a price target at the all-time high is a ideal setup for traders. When the possibility of making a profit is three times greater than the amount you are risking, the chances of succeeding in a trade are much better in the long run. In crypto, given the volatility of the markets, this would be relatively short-term.
Going back to the fundamental principles briefly mentioned in the coins, concerning the advantages of XRP20 over XRP, its decentralization on Ethereum beats Ripple-controlled centralized token issuance, even if the tokens are sequestered. Moreover, with XRP20, no tokens are reserved for founders and team members as was the case with XRP.
Last but not least, Ethereum is the most liquid and widely adopted decentralized finance (DeFi) ecosystem in cryptocurrency. There is no limit to the possibilities of building the token infrastructure to add utility far beyond staking and burning.
In summary, buy XRP20 today might be the best opportunity in today’s market to get a mix of passive income and capital gains.
This article does not represent investment advice in any way. The information provided here should not be used as the basis for making financial decisions. Investing in cryptocurrency involves risk and can lead to significant losses. You should only invest what you can afford to lose and do your own research before making any investment decisions.