Original title: Left Curve | XRP Memecoin Onboarding 101
Original author: @zaddycoin, crypto KOL
Original text compiled by: zhouzhou, BlockBeats
Editor’s note: The XRP ecosystem currently has no staking and the DeFi is underdeveloped, so idle funds are going to play with Meme coins on XRPL. The related operations are simple: use First Ledger bot or Xaman Wallet + WebApp for trading. But the issues to be aware of are high risks, low liquidity, extreme price fluctuations, and the possibility of a rug pull at any time, yet the popularity of Meme coins may help propel the XRPL ecosystem.
The following is the original content (reorganized for easier reading):
Introduction
I find it hard to express my pessimistic view on XRP as a long-term cross-border payment solution, let alone its CEO's repeated public denouncement of Bitcoin. The list of issues with XRP is simply too long to waste time listing. Just a year ago, mentioning XRP on crypto Twitter would likely get you mocked or even ostracized—sorry, Raoul. But the price movements have changed everything, and now the XRP legion has finally welcomed their moment in the sun; today is their 'victory day'.
Link to Raoul's tweet
Rules
To continue reading this article, you need to put on the hat of 'left curve thinking', otherwise you can just exit—it's that simple, this is not content for everyone. Remember during the 2021 bull market, my friends were crazily asking me about DOGE and SHIB. I told them to focus on things 'with real applications', like ETH. While that advice itself wasn't wrong, the real opportunity was actually DOGE and SHIB, purely because of the massive attention at the time, and that was where the signal was.
At that time, I was talking rather than listening, but this time I chose to listen. When the cries of ordinary retail investors echoed throughout crypto Twitter, they clearly told us which coins they were choosing.
Core idea
This view is simple and does not disguise its speculative nature: XRP is the fourth-largest cryptocurrency—no, to be precise, XRP is the fourth-largest ecosystem token by market capitalization, marking a significant shift in narrative direction. XRP's original positioning was as a cross-border payment tool for banks, but the true opportunity window (which may not last long) has now shifted to its ecosystem. Specifically, it's the Meme coins issued on the XRPL (XRP Ledger) smart contract platform.
The fanaticism of the XRP community can be said to be the strongest in the crypto space; the XRP community is the most 'religious' atmosphere in the crypto field, second only to the loyalty of Bitcoin holders.
Chart A:
Don't you love those TikTok preachers praising XRP's 'trillion-dollar' market cap?
Despite the downward trend in XRP prices since 2018, it has consistently managed to attract new ecosystem participants. This resilience primarily stems from the fervor of 2018, which left a profound impression on many observers; many people I know still ask me about XRP.
Time flies, and many retail investors returning to the crypto market now tend to choose the coins they were familiar with in the past.
Old altcoins soared in 2018 | Retail return
Image link
As one of the top five cryptocurrencies by market capitalization, the question arises: where is all this idle money going? XRP lacks a native staking feature, and its DeFi ecosystem is still 'underdeveloped', with most activities limited to transfers, receiving, and simple holding.
This raises a key question: when idle funds seek direction, where will these funds flow? Due to limited choices, these participants are likely to chase the next 'hundred times' Meme coin opportunity, being forced into speculative trading rather than making proactive choices.
Strategy
The strategy is simple: seize the opportunities in Meme coins and trading infrastructure within the ecosystem. Just as Meme coins drove the activity on Solana, boosting the growth of decentralized trading platforms like Raydium, Jupiter, and even Jito, the same dynamics may repeat on 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 via exchanges like Coinbase, Binance, etc.
Contract address acquisition
Without going into technical details, the simplest way to get the CA and paste it into the bot is to get the address from the URL via DEXscreener. Note that DEXscreener's URL may sometimes be case-sensitive, while the First Ledger Bot requires an exact match in case format.
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 unchanged.
This is an example of a contract from a URL:
The bot is very sensitive to case:
1. Correct: rGHtYnnigyuaHehWGfAdoEhkoirkGNdZzo
2. Error: rghtynnigyuahehwgfadoehkoirkgndzzo
Note: 10 XRP locked
When creating a new wallet, all new wallets will be locked at 10 XRP to prevent the network from being attacked by spam transactions. When you delete the wallet, you can retrieve this 10 XRP. I suggest not to get too hung up on this—it's the 'ticket' to enter the market, just pay the fee and keep your wallet.
First Ledger debugging and troubleshooting
Some people encountered issues setting up wallets (waiting for repair, or choosing the second option).
Some people encountered issues buying on mobile (waiting for repair, or choosing the second option).
Option 2: Xaman Wallet + xMagnetic WebApp
The second plan is divided into two parts:
Use @XamanWallet.
Operate in conjunction with @MagneticXRPL Web application. Open xMagnetic WebApp in the mobile browser to pair with the Xaman Wallet on your phone, allowing transactions without using the Telegram bot.
Friendly reminder
Low liquidity, chart fluctuations are severe.
If you choose a strong Meme coin strategy, give it some time to fluctuate. It might drop 50% within hours and then quickly rebound.
Rug pulls are everywhere, and 99% of tokens may carry the risk of running away.
Summary
I have mentioned my pessimistic view on XRP as a cross-border payment tool, but as a Meme ecosystem, it is fundamentally a speculative play. Idle value can now flow into new speculative assets triggered by XRP price movements. Users are already in place, similar to the TON play.
But wait... if you are optimistic about XRP Meme coins, do you also have faith in XRP itself? Wouldn't it be interesting if enough Meme value could give birth to a mature XRPL ecosystem?
Original link
