Sign in

Wrapped XRP WXRP Price

$2.45

1.79%

$2.39

24h Range

$2.50

Market Cap

$43,937,325.0

Fully Diluted Valuation

$43,971,519.8

24 Hour Trading Vol

$5,051.8

Circulating Supply

17,947,559.1

Total Supply

17,947,559.1

Max Supply

Info

WXRP Price Statistics

Wrapped XRP Price

$2.45

24h Range

$2.39 - $2.50

Percent Change 1h

0.12%

Percent Change 24h

1.79%

Percent Change 7d

-14.22%

All-time high

$18.37

All-time low

$0.125

Simple View
Trading View

1D

7D

1M

1Y

All

Loading...
Simple View
Trading View

About Wrapped XRP

What is Wrapped XRP (WXRP)?

Wrapped XRP (WXRP) is an ERC-20 token that represents XRP on the Ethereum blockchain. This tokenization allows XRP holders to use their assets within the Ethereum ecosystem, particularly in decentralized finance (DeFi) applications. The primary goal of WXRP is to bridge the gap between XRP and Ethereum, enabling users to access various DeFi services while maintaining the value of their XRP holdings. By wrapping XRP in this manner, users can participate in yield farming, liquidity pools, and other DeFi activities that are otherwise unavailable to traditional XRP holders.

Who are the Founders of Wrapped XRP?

Wrapped XRP was developed by a team of blockchain enthusiasts and developers, primarily associated with the Wrapped.com initiative, which focuses on creating wrapped tokens for various cryptocurrencies. While the project does not have widely publicized individual founders, it operates under the broader ethos of decentralized finance, emphasizing community engagement and collaborative development. The initiative aims to provide a seamless experience for users transitioning between different blockchain ecosystems.

How does Wrapped XRP Work?

Wrapped XRP operates through a smart contract system that facilitates the conversion of native XRP into WXRP. The process involves several key steps:

  • Tokenization: Users send their XRP to a custodian or a smart contract that holds the XRP in reserve. In return, they receive an equivalent amount of WXRP.
  • Redeeming: When users want to convert their WXRP back into XRP, they can send the WXRP back to the smart contract, which will release the equivalent amount of XRP to the user's wallet.
  • Security and Audits: The wrapped XRP system is designed with security in mind, involving regular audits to ensure that the amount of XRP held in reserve matches the amount of WXRP in circulation.

Wrapped XRP leverages Ethereum's smart contract capabilities, allowing it to be easily integrated into various DeFi platforms, thereby increasing its utility and liquidity.

Top Use Cases of Wrapped XRP

Wrapped XRP has several significant use cases within the DeFi ecosystem:

  • Liquidity Provision: Users can provide WXRP to liquidity pools on decentralized exchanges (DEXs) like Uniswap or SushiSwap, earning transaction fees and rewards.
  • Yield Farming: WXRP can be staked in various DeFi protocols, enabling users to earn interest or rewards on their holdings.
  • Cross-Chain Transactions: Wrapped XRP facilitates transactions between the Ethereum and XRP networks, allowing for greater interoperability between different blockchain platforms.
  • Trading: WXRP can be traded on various decentralized and centralized exchanges, providing liquidity and allowing users to take advantage of price fluctuations.
  • Integration with DeFi Protocols: WXRP can be used as collateral in lending and borrowing platforms, such as Aave or Compound, expanding its functional utility within the DeFi ecosystem.

How to Keep your Wrapped XRP Safe?

Keeping your Wrapped XRP safe involves several best practices:

  • Use Secure Wallets: Store your WXRP in hardware wallets or reputable software wallets that support ERC-20 tokens to minimize the risk of hacks.
  • Enable Two-Factor Authentication: Always enable 2FA on accounts associated with your crypto holdings to add an extra layer of security.
  • Keep Software Updated: Ensure that your wallet software and any related applications are regularly updated to protect against vulnerabilities.
  • Be Wary of Phishing Scams: Always double-check URLs and never share private keys or recovery phrases with anyone. Phishing scams are prevalent in the crypto space.
  • Regularly Monitor Holdings: Keep an eye on your WXRP balance and transaction history to quickly detect any unauthorized activity.

How to Invest in Wrapped XRP (WXRP)?

Investing in Wrapped XRP (WXRP) or any other cryptocurrency involves several steps:

1Choose a Reliable Exchange: Select a reputable cryptocurrency exchange platform like Coinbase, Binance, or Okx. These platforms allow you to buy, sell, and trade cryptocurrencies.

2Create an Account: Sign up for an account on your chosen exchange by providing the necessary personal information and completing the verification process.

3Fund Your Account: Deposit funds into your exchange account using various methods like bank transfers, credit/debit cards, or wire transfers.

4Buy Wrapped XRP: Once your account is funded, you can purchase Wrapped XRP directly from the exchange. Choose the desired amount and complete the transaction.

Investing in Wrapped XRP (WXRP) Using Botsfolio:

Botsfolio is a platform that automates cryptocurrency investments using trading bots. To invest in Wrapped XRP using Botsfolio, follow these steps:

  • Create a Botsfolio Account: Sign up for a free account on the Botsfolio platform.
  • Create Portfolio: Select an investment type from available options such as Premade crypto portfolios OR Custom crypto portfolio.
  • Connect Your Exchange: Link your chosen cryptocurrency exchange account to Botsfolio through fast connect or API key to enable seamless investing.

Botsfolio allows you to automate your cryptocurrency investments, potentially saving time and effort while optimizing your trading strategies.

What is the Price Prediction for Wrapped XRP (WXRP) in the Long Term?

Wrapped XRP (WXRP) is currently trading at $2.45 and exhibits good potential for future growth. Check the latest Wrapped XRP (WXRP) price prediction.

FAQs

Recent Big Transactions


Wrapped XRP Info

Info

Wrapped XRP Insights

Recent Big Transactions


Explore More Crypto Coins

Botsfolio Blogs

Instant Access, No Sign-Up Needed!

Create and Evaluate Portfolios in Minutes

With any investment, your capital is at risk. The value of your portfolio with Botsfolio can go down as well as up and you may get back less than you invest. Past performance is no guarantee of future results. Read our (investment risk disclosure ) for more information. By using this website, you accept our (Privacy Policy) (Terms & Conditions) .

PRODUCTS

BECOME A PARTNER

CONTACT US

Support: jasmine@botsfolio.com

Marketing: marketing@botsfolio.com

KribX Inc, USA

© 2024 © Botsfolio

Privacy Policy Terms and Conditions