The recently launched XRP20 ($XRP20) presale has now raised over $1.1 million, with less than 50% of the allotted tokens remaining for purchase.
Branded as “the next evolution of XRP,” XRP20 ($XRP20) aims to provide investors with a second chance to buy a token inspired by the original XRP.
With the presale heating up, some speculate whether $XRP20 could pump higher than $XRP once it makes its DEX debut in the coming weeks.
XRP20 Presale Surges Past $1m Milestone as Hype Intensifies
The ongoing XRP20 presale has surged past the $1 million mark, with early investors snapping up over half of the token allocation.
XRP20’s presale has seen increasing demand over the past week as fear of missing out (FOMO) intensifies among investors seeking exposure to this new token.
Investors can purchase $XRP20 tokens for just $0.000092 – a price point 30 times cheaper than $XRP’s all-time low of $0.0028.
This premise has struck a chord with those who missed out on XRP’s early days.
If XRP20 continues gaining traction at this pace, there’s a growing belief that the soft cap of $1.85 million could be hit in the next seven days.
This has further fueled the hype around XRP20, with the project’s Telegram channel seeing impressive membership growth.
Not only that, but crypto YouTuber Jacob Bury, who boasts an audience of over 20,000, has released several videos discussing his optimism about XRP20.
Time will tell if XRP20 can maintain momentum after its presale concludes, but for the time being, interest continues to build from the investment community.
Development Team Leverages XRP Nostalgia with “Second Chance” Branding
A key aspect of XRP20’s marketing strategy is its “second chance” branding, which taps into nostalgia and regret among investors who missed out on buying the original $XRP before its bull run.
By promoting the token as the “next evolution of XRP,” XRP20’s team lays the groundwork for possible post-listing growth.
Although there’s no direct link between the two projects, the team hopes to leverage the power of the original $XRP in the hope of achieving similar success.
For context, $XRP’s initial bull run saw the token’s price rise by an incredible 137,000% between February 2017 and March 2018.
As seen with the early presale growth, XRP20’s marketing strategy is working well, with investors from around the world piling in to snag tokens before the allocation is depleted.
With XRP’s price down 33% in the past three weeks, XRP20’s launch coincides with recent declines in the original token’s value – potentially allowing the new token to capitalize on investor interest.
Key Features Like Staking & Token Burning Attract Early Investors
Beyond effective branding, some of the core features of the XRP20 token have also generated excitement among investors.
As outlined in XRP20’s whitepaper, staking is a vital part of the ecosystem, with 40% of the total token supply reserved for staking rewards.
This sizable allocation provides consistent tokenized rewards for those who lock up their tokens while also reducing the circulating supply of $XRP20 at the same time.
XRP20’s team has also implemented deflationary mechanisms like a 0.1% transaction burn fee and an additional 10% of the token supply set aside for burning.
These strategies help increase scarcity – and thereby the price prospects for $XRP20.
All in all, XRP20’s appealing staking rewards and deflationary dynamics are proving enticing for presale investors hoping to capitalize on its early-stage growth potential.
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