A cryptocurrency copy of a top 10 token that has grown thousands of times has been named

Editor’s note: not financial advice!

Cryptocurrency analysts have drawn attention to a digital asset that is a copy of the XRP token — XRP 2.0 managed to grow thousands of times after its launch. Despite the similarity of the name XRP 2.0 to the well-known XRP, the cryptocurrency has nothing to do with Ripple.

According to analysts, the temporary success of the digital asset is based on a pump and dump fraud scheme. The little-known XRP 2.0 token grew by 7066% in a short period of time. After the listing of XRP 2.0 on Uniswap, the cryptocurrency rate rose sharply and reached a peak, but then a downward trend emerged and the asset almost completely depreciated.

on July 28, the price of XRP 2.0 began to rise again, and on Sunday, July 30, the value of the fraudulent token increased thousands of times. The market capitalization of XRP 2.0 reached $ 146,042.

The developers of XRP 2.0 want to «develop the project and promise to develop programs for staking and farming, as well as conduct a large-scale marketing campaign in the future.» However, given the extremely low level of capitalization of the digital asset, it becomes obvious that its purchase carries risks associated with the huge level of volatility of the XRP 2.0 rate.

We would like to emphasize that experts do not advise users to invest in little-known digital assets, as their growth is often driven by bots and pump schemes. Any fraudulent actions can significantly affect the wallets of investors who continue to invest in a little-known but rapidly growing digital asset.