coindesk.com
Payments-focused cryptocurrency $XRP$1.8763 is little changed in 24 hours, in line with the broader crypto market, even after the introduction of a new product that allows holders to earn extra money without selling their tokens.
On Tuesday, Upshift, Clearstar and Flare unveiled earnXRP, a vault designed to make it easier for $XRP holders to generate returns on top of their spot market holdings. The new offering helps $XRP holders bypass the complexities of managing DeFi strategies and pays out yield denominated in $XRP.
Upshift is a platform dedicated to providing toolkitx to protocols and wallets to develop DeFi earn vaults. Clearstar is an on-chain risk curator that designs institutional-grade DeFi vaults and Flare is a layer 1 blockchain designed for data intensive use cases. Fintech firm Ripple uses $XRP to facilitate cross-border transactions.
How earnXRP Works
Users deposit Flare's FXRP, a 1:1, over-collateralized representation of $XRP that conforms to Ethereum's ERC-20 token standard on Flare, into a vault that deploys capital across varied strategies. In return, users receive earnXRP, a receipt token representing their share in the vault and the accumulated $XRP-denominated yield.
This time of year typically sees low investor participation and thin liquidity, leading to erratic price moves.
$XRP could see a year-end bounce as social sentiment turns decisively negative — a contrarian signal that has historically preceded recoveries, according to Santiment.
"$XRP is seeing far more negative social media commentary than average. Historically, this setup leads to price rises. When retail has doubts about a coin's ability to rise, the rise becomes significantly more likely," analytics firm Santiment said on X.
As the poet Charles Bukowski said, the masses are always wrong.