Several cryptocurrencies are taking the center as the market attempts to sustain the 2023 bull run growing in popularity based on overall searches.
In this case, as of January 18, the eco-friendly-centered token, Xrp Classic (XRPC), has emerged as the third most trending cryptocurrency despite experiencing sustained sell-off in recent days.
Notably, XRPC is only behind the decentralized finance (DeFi) platform PancakeSwap (CAKE) and HyperChainX (HYPER), according to CoinMarketCap data.
Notably, the Xrp Classic token was developed on the BEP-20 network, which has gained a reputation for enabling the easy creation of suspicious cheap and blank tokens. At the moment, XRPC has no existing contract on XRP Ledger. Therefore, investors should express caution when dealing with XRPC since the contract owner may be able to modify the transaction tax.
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At the moment, Xrp Classic is trading at $0.0162, having corrected by over 26% in the last 24 hours. However, the token has generally benefited from the ongoing bull run gaining by 170% year-to-date.
XRPC’s network development
It is worth noting that despite the popularity, information on XRPC’s overall project plan still remains unclear, with developers describing it as a Regenerative Finance (ReFi) project. Notably, it also seems the token is back from 2019.
However, the network is experiencing increased development as the team aims to provide more utility. One of the current initiatives by Xrp Classic is to increase the number of token holders and exchange listings. At the same time, the platform is targeting a market capitalization of about $250 million.
Another notable development is the ongoing design of its own ReFi blockchain that seeks to offer high-speed, eco-friendly transactions combined with minimum trading fees with the overall goal of restoring the environment.
“We have within our means the possibility of minimizing some of the damage we are doing to our environment using advanced technology. Xrp Classic is an example of the kind of technology that can transition from a linear to a circular economy, helping the world recover,” the platform said.
With XRPC’s end game unclear, it can be assumed that the project might be intending to benefit from the original XRP token, which is likely to be impacted by the ongoing case between Ripple and the Securities Exchange Commission (SEC).
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