XDP Token Trades at 54% Below Launch High Amid Tight Range
Doppler Finance's XDP token has been trading at 54% below its launch high, with a market cap of $20.5 million and a fully diluted value of $204.8 million. The token is used in a yield protocol built around XRP, which allows holders to deposit their XRP or RLUSD and earn interest back in the same asset.
The supply of XDP is capped at 10 billion, but only about 1 billion is currently trading, with the rest locked up due to extended vesting periods. The incentives and growth bucket holds 43% of the total supply, while the genesis airdrop received 1%. Contributor and investor tokens are also subject to lockups and vesting.
The price action for XDP has been confined to a tight range, with the launch-day low at $0.01797 and the high at $0.03879 on Uniswap v3 pool on Base. The current price is around $0.02047, which is below the volume-weighted average of $0.02111.
Traders are watching for a breakout above or below certain price levels, with a bull trigger set at $0.02210 and a bear trigger at $0.01981. However, some analysts have warned about fake tokens and phishing sites, advising users to be cautious when dealing with XDP contracts.