XRP tripled in one week, how can the ecological meme be hyped?

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Editor's Note: The XRP ecosystem currently lacks staking and the DeFi ecosystem is not mature, with idle funds going to play MEME coins on the XRPL. The related operations are simple: use the First Ledger bot or the Xaman wallet+WebApp for trading. However, the problem is that the risks are high, the liquidity is poor, the prices fluctuate sharply, and Rug Pulls can happen at any time, but the MEME coin hype may help drive the rise of the XRPL ecosystem.

The following is the original content (edited for easier reading):

Introduction

It is difficult for me to express in words my pessimistic view of XRP as a long-term cross-border payment solution, not to mention its CEO's repeated public bearishness on Bitcoin. The list of problems with XRP is really too long to bother listing. Just a year ago, you were likely to be mocked or even ostracized on crypto Twitter for mentioning XRP - sorry, Raoul. But the price trend has changed everything, and now the XRP army is finally having its moment in the sun, with their "Victory Day" here today.

Raoul's tweet link

Rules

To continue reading this article, you need to put on the "left-curve thinking" hat, otherwise you can just exit - it's that simple, this content is not for everyone. Remember in the 2021 bull market, my friends were frantically asking me about DOGE and SHIB. I told them they should focus on things with "real applications", like ETH. While the advice itself was not wrong, the real opportunity was actually DOGE and SHIB, purely because of the huge attention at the time, that's where the signal was.

At the time I was talking, not listening, but this time I choose to listen. When the cries of ordinary retail investors echo through the corners of crypto Twitter, they are clearly telling us which coins they are choosing.

Core Viewpoint

The viewpoint is simple and makes no attempt to hide its speculative nature: XRP is the fourth largest coin - no, to be precise, XRP is the fourth largest ecosystem coin by market cap, which marks a significant shift in the narrative. XRP was originally positioned as a tool for cross-border payments for banks, but the real window of opportunity (which may not last too long) has now shifted to its ecosystem. Specifically, MEME coins issued on the XRPL (XRP Ledger) smart contract platform.

The fanaticism of the XRP community is unparalleled in the crypto space
It can be said that the XRP community is the most "religious" group in the crypto field, second only to the loyalty of Bitcoin holders.

Chart A:

Don't you love those TikTok evangelists who hype up XRP's "trillion-dollar" market cap?

Despite the downward trend in the XRP price since 2018, it has always been able to attract new ecosystem participants. This resilience is mainly due to the frenzy of 2018, which left a deep impression on many bystanders, and many people I know are still asking me about XRP.

Time flies, and many retail investors who have returned to the crypto market now tend to choose the coins they were familiar with in the past.

2018 Altcoin Surge | Retail Investors Return

Image link

As a top 5 coin by market cap, the question arises: where have all these idle funds gone? XRP lacks native staking functionality, and its DeFi ecosystem is still "underdeveloped", with most activity still limited to transfers, receipts, and simple holding.

This raises a key question: where will these idle funds seek to flow when they are looking for a direction?
With limited options, these participants are likely to chase the next "100x" MEME coin opportunity, forced into speculative trading rather than proactive selection.

Strategy

The strategy is simple: seize the opportunities within the ecosystem's MEME coins and trading infrastructure. Just as MEME coins drove the activity of Solana, fueling the growth of decentralized trading platforms like Raydium, Jupiter, and even Jito, a similar dynamic may play out on the XRPL.

Buying Tokens on XRPL 101

Option 1: First Ledger Bot


To easily purchase tokens, you need to use the @First_Ledger Telegram bot. You can directly send XRP tokens from trading platforms like Coinbase or Binance.

Obtaining Contract Addresses

Without delving into technical details, the easiest way to get the CA and paste it into the bot is through DEXscreener. Note that the DEXscreener URLs sometimes differentiate between uppercase and lowercase, while the First Ledger Bot requires an exact match in case sensitivity.

Solution: Paste the relevant part of the URL into XRPscan to easily extract the case-sensitive version. This method may be updated over time, but the core process remains the same.

Here is an example contract address from a URL:

The bot is very sensitive to case:

1. Correct: rGHtYnnigyuaHehWGfAdoEhkoirkGNdZzo

2. Incorrect: rghtynnigyuahehwgfadoehkoirkgndzzo

Note: 10 XRP Locked

When creating a new wallet, all new wallets are locked with 10 XRP, which is to prevent the network from being attacked by spam transactions. When you delete the wallet, you can retrieve these 10 XRP. I suggest not to worry about this - it's the "ticket" to enter the market, pay the fee and keep your wallet.

First Ledger Troubleshooting and Fixes

Some have encountered issues setting up the wallet (wait for a fix, or choose the second option).

Some have encountered issues purchasing on the mobile (wait for a fix, or choose the second option).

Option 2: Xaman Wallet + xMagnetic WebApp

The second option is in two parts:

Use the @XamanWallet wallet.

Combine with the @MagneticXRPL Web app for operations.
Open the xMagnetic WebApp in your mobile browser, which can be paired with the Xaman Wallet on your phone, allowing you to complete transactions without using the Telegram bot.

Tips

Low liquidity, charts with violent fluctuations.

If you choose a strong MEME coin strategy, give it some time to fluctuate. It may drop 50% within a few hours and then rebound quickly.

Rug Pulls are everywhere, 99% of tokens may have a risk of running away.

Conclusion

I mentioned my pessimistic view of XRP as a cross-border payment tool, but as a MEME ecosystem, this is a fundamentally speculative play. Idle value can now flow into new speculative assets triggered by the XRP price trend. The users are already in place, similar to the TON play.

But wait... if you're bullish on XRP MEME coins, are you also bullish on XRP itself?
If enough MEME value can catalyze a mature XRPL ecosystem, wouldn't that be interesting?

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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