Meme Insider
If you’ve been browsing Solana token lists or DEX aggregators, you might have spotted a token called “XRP” with the address CN8V1z4TNsQ3FfkcyQe4UcJUG1YZUCGsPDrCheF3bonk. While the name might seem familiar, this Solana-based XRP is not the same as the famous native XRP from the XRP Ledger. Let’s break down what this token is, where it comes from, and what you need to know before jumping in.
What Is the XRP Token on Solana?
On Solana, “XRP” at the address above is a meme token. Listed on platforms like DEX Screener under the provocative name “Xtremly Retarded People”, it’s one of many Solana assets piggybacking off established crypto symbols. Unlike utility tokens or officially bridged assets, meme coins like this often exist purely for speculative trading, humor, or building a quick online community.
Key Facts:
- Token Symbol: XRP
- Full Name (DEX listing): Xtremly Retarded People
- Solana Address:
CN8V1z4TNsQ3FfkcyQe4UcJUG1YZUCGsPDrCheF3bonk - Project Status: According to community posts, the original developer “rugged” the project (abandoned and deleted the community), and now it’s “community claimed” (the community is attempting to take over).
Is This the Real XRP?
No, and this distinction is super important.
- Native XRP is issued on the XRP Ledger and developed by Ripple, known for instant, low-fee cross-border payments.
- Solana XRP (the meme token) is not associated with Ripple, is unverified according to Solana’s token registry, and isn’t a bridged or wrapped version of native XRP.
There are official or semi-official versions of XRP bridged to Solana (e.g., Wrapped XRP with addresses like Ga2AXHpfAF6mv2ekZwcsJFqu7wB4NV331qNH7fW9Nst8 or AZZyEKLE288XgF795nkktMC9poBgsq93mkcZQxRrpump), but this “XRP” is not one of them.
Trading and Market Status
As of the most recent data:
- Price: Around $0.000122 per token
- 24H Trading Volume: ~$7,600
- Market Cap: ~$121,400
These numbers point to some active speculation, but this token’s unverified status and meme coin origins mean everything can change quickly.
You’ll find the token trading mainly on Solana DEXs such as Solflare or Raydium. It does not appear on centralized exchanges like Coinbase or Binance.
Why Are There So Many “XRP” Tokens on Solana?
It’s not uncommon on Solana and other blockchains for meme tokens to imitate famous coins. These tokens:
- Leverage brand recognition for fast hype
- Rely on community memes, jokes, or viral marketing
- Often launch via platforms like Pump.Fun for fair or instant launches without team allocations
This sometimes creates confusion, especially for newer investors who might think they’re buying the “real” XRP. Always verify contract addresses and check a token’s background!
Risks to Know About
Meme tokens can offer fast action and the occasional moonshot, but they come with significant risks:
- Volatility: Prices can swing wildly with little warning.
- Low Liquidity: Some meme tokens have very small liquidity pools, which makes trading in and out without major slippage tough.
- Rug Pulls & Honeypots: As happened with this token, developers might abandon the project, drain liquidity, or set “honeypot” traps (where you can buy but not sell). Always use scanners or risk-analysis tools (like GMGN.AI) to check for suspicious contract behaviors.
- Lack of Utility: Beyond trading and memes, most have no clear use case or technology roadmap.
- No Institutional Backing: There is no tie to Ripple, XRP Ledger, or any enterprise partnership.
Community and Sentiment
- The community now claims to run the project following the alleged developer rug. Community sentiment can be bullish in meme coin circles, but that’s usually driven by hype rather than fundamentals.
- Promotional posts on X (formerly Twitter) talk up the token’s “potential,” but these are not based on real adoption or utility.
- The XRP brand is being used for memetic impact, not for real financial utility.
Comparison Table: Solana Meme XRP vs. Real XRP
| Feature | Solana XRP (CN8V1z4...) | Native XRP (XRP Ledger) |
|---|---|---|
| Blockchain | Solana | XRP Ledger |
| Consensus Mechanism | Proof of History | Federated Consensus |
| Transaction Speed | ~0.4 seconds | 3–5 seconds |
| Transactions per Second | Up to 65,000 | ~1,500 |
| Transaction Cost | ~$0.00025 | ~$0.000001 |
| Supply | Unknown | 100 billion (pre-mined) |
| Use Case | Meme/Speculation | Payments, remittance |
| Affiliation | Community / meme | Ripple Labs |
| Smart Contract Support | Yes (SPL/Solana) | No |
Best Practices Before Trading
- DYOR: Do your own research. Double-check contract addresses and token legitimacy using Solana Explorer or trusted platforms.
- Stick to Trusted DEXs: Use platforms like Raydium or Phantom for trading.
- Use Safety Tools: Platforms such as GMGN.AI can help check for red flags (honeypots, suspicious contract settings, etc.).
- Don’t Confuse with Native XRP: This token is not native XRP and is not connected to Ripple in any way.
The Bottom Line
The “XRP” token on Solana (address: CN8V1z4TNsQ3FfkcyQe4UcJUG1YZUCGsPDrCheF3bonk) is a community-driven meme token that shares nothing with the original XRP beyond the name. There’s no real utility or official project roadmap, and its history of a developer “rug pull” followed by a community takeover is typical of high-risk meme coins.
If you’re exploring it, know the risks: high volatility, possible scam potential, lack of clear value, and a good dose of meme-driven speculation. Always research thoroughly and never invest more than you can afford to lose.
For those looking to track, analyze, or experiment with meme tokens on Solana, platforms like GMGN.AI are useful for staying updated on real-time market data, analyzing risk, and watching community trends.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments are highly speculative. Always conduct your own due diligence before trading or investing.
