XRP20 price is about to be revealed soon as it has just announced a listing date. The new cryptocurrency will be listed on the biggest decentralized exchange Uniswap on 22nd August. However, there are some things that you must know before the listing day.
Crypto markets are hanging by a thread after an intense sell-off last week. The biggest cryptocurrency, Bitcoin, has sucked the air out of most altcoins, sending them to new lows. These market conditions are not ideal for the launch of a new digital asset like the XRP20 coin.
According to the latest tweet from XRP20, the team is going to add liquidity on Uniswap on 22nd August 2023. Uniswap is currently the biggest decentralized exchange with a total locked value of $3.38 billion. Anyone can add their pair on the DEX by just adding liquidity on both sides without having to go through any documentation.
XRP20 price stayed at $0.000092 during its recently concluded presale. The listing price depends on at what price the team adds the liquidity. Another factor affecting would be the amount of liquidity added. If the team adds very little liquidity at a very high price, then it is unlikely to sustain.
Uniswap listing of most coins tends to be extremely volatile due to multiple factors. Firstly, a lot of bots try to front-run the real traders by pumping the price and then selling immediately at the top. Secondly, many presale investors try to sell if the price is high enough. This situation usually takes a couple of hours to stabilize.
Therefore, if you’re getting a FOMO from all the bullish XRP20 price predictions on the internet, it might not be a great idea to buy right after listing. Another factor to be considered is the fact that the coin lacks any fundamentals and has no similarity to Ripple (XRP) whatsoever.
In the meantime, I’ll keep sharing updated XRP20 analysis and my personal trades on my Twitter, where you are welcome to follow me.
This post was last modified on Aug 21, 2023, 10:11 BST 10:11