XRP Up 3x in a Week, How to Hype the Ecosystem Meme?

By: blockbeats|2024/12/02 14:00:02

Original Article Title: Left Curve | XRP Memecoin Onboarding 101
Original Article Author: @zaddycoin, Crypto Kol
Original Article Translation: zhouzhou, BlockBeats

Editor's Note: The XRP ecosystem currently lacks staking and DeFi maturity, so idle funds are flowing into meme coins on the XRPL. The related operations are simple: use the First Ledger bot or Xaman wallet + WebApp for transactions. However, it is important to note that there are significant risks, poor liquidity, price volatility, and the possibility of rugs at any time. Nevertheless, the meme coin craze may help drive the rise of the XRPL ecosystem.

The following is the original content (slightly reorganized for readability):

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 criticism of Bitcoin. The list of XRP's issues is simply too long to waste time listing them. Just a year ago, mentioning XRP on Crypto Twitter could likely lead to mockery or rejection—sorry, Raoul. But the price movement has changed everything, and now the XRP army has finally ushered in their moment of glory, today is their "day of victory."

Raoul's Tweet Link

Rules

To continue reading this article, you need to put on your "Left Curve Thinking" hat, otherwise you may as well exit directly—it's that simple, this content is not for everyone. Remember during the 2021 bull market when my friends were crazily asking me about DOGE and SHIB? I told them they should focus on things with "actual use cases," like ETH. While this advice is not necessarily wrong, the real opportunity was actually in DOGE and SHIB, purely because of the massive attention at that time, that was the real signal.

XRP Up 3x in a Week, How to Hype the Ecosystem Meme?

At that moment, I was speaking instead of listening, but this time I chose to listen. As the cries of ordinary retail investors echoed across Crypto Twitter's various corners, they explicitly told us which coins they were choosing.

Key Takeaway

This viewpoint is straightforward and does not hide its speculative nature: XRP is the fourth-largest cryptocurrency—no, more precisely, XRP is the fourth-largest ecosystem coin by market capitalization, marking a significant shift in the narrative direction. XRP's original positioning was as a bank-centric cross-border payment tool, but the real window of opportunity (which may not last long) has now shifted towards its ecosystem, specifically memecoins issued on the XRPL (XRP Ledger) smart contract platform.

The fervor of the XRP community is arguably the highest in the crypto sphere.
One could say that the XRP community is the most "religious" group in the crypto space, second only to Bitcoin holders in loyalty.

Chart A:

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

Despite XRP's price showing a downward trend since 2018, it has always managed to attract new ecosystem participants. This resilience mainly stems from the 2018 hype, which left a deep impression on many bystanders, and many people I know still ask me about XRP to this day.

As time flies, many retail investors returning to the crypto market now tend to choose the coins they were familiar with in the past.

-- Price

2018's Old Altcoins Surge | Retail Investors Return

Image Link

As a top-five cryptocurrency by market capitalization, the question arises: where has all this idle capital flown to? XRP lacks native staking functionality, and its DeFi ecosystem is still "underdeveloped," with most activity still confined to transfers, receipts, and simple holding.

This raises a key question: where will this idle capital flow when seeking action?
With limited choices, these participants are likely to chase the next "100x" Meme coin opportunity, forced into speculative trading rather than active participation.

Strategy

The strategy is simple: seize opportunities within the ecosystem of Meme coins and trading infrastructure. Just as Meme coins drove activity on Solana, fueling the growth of decentralized exchanges like Raydium, Jupiter, and even Jito, the same dynamics could play out on the XRPL.

Buying Tokens on XRPL 101

Option 1: First Ledger Bot

To easily purchase tokens, you need to use @First_Ledger Telegram bot. You can directly send XRP tokens via Coinbase, Binance, and other exchanges.

Getting the Contract Address

Without diving into technical details, the simplest way to get the CA and paste it into the bot is by obtaining the address from a URL on DEXscreener. It's important to note that DEXscreener's URL may sometimes be case-sensitive, while the First Ledger Bot requires an exact case-sensitive match.

Solution: paste 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 of a contract from a URL:

Robot Case Sensitivity:

1. Correct: rGHtYnnigyuaHehWGfAdoEhkoirkGNdZzo

2. Incorrect: rghtynnigyuahehwgfadoehkoirkgndzzo

Important Note: 10 XRP Lockup

When creating a new wallet, all new wallets are locked with 10 XRP to prevent the network from spam transaction attacks. You can recover this 10 XRP when you delete the wallet. I suggest not worrying about this—it's your "ticket" into the market—pay the fee and keep your wallet.

First Ledger Debugging and Issue Resolution

Someone encountered issues setting up the wallet (waiting for resolution or choosing the second option).

Someone encountered issues with purchases on mobile (waiting for resolution or choosing the second option).

Option 2: Xaman Wallet + xMagnetic WebApp

The second option consists of two parts:

Use @XamanWallet wallet.

Operate with @MagneticXRPL Web App.
Open the xMagnetic WebApp on your mobile browser, pair it with the Xaman Wallet on your phone, and complete transactions without using the Telegram bot.

Friendly Reminder

Liquidity is low, and the chart is highly volatile.

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

Rug pulls are everywhere, and 99% of tokens may have a rug pull risk.

Summary

I've mentioned my pessimistic view of XRP as a cross-border payment tool, but as part of the Meme ecosystem, this is fundamentally a speculative game. Idle capital can now flow into new speculative assets triggered by XRP price movements. Users are ready, similar to the TON play.

However, hold on a second... if you are bullish on the XRP Meme coin, are you also bullish on XRP itself?
If enough Meme value can spawn a mature XRPL ecosystem, wouldn't that be interesting?

「Original Article Link」

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