XRP is currently experiencing a massive rally, having soared 441% over the last 30 days. This surge has not only fueled the growth of Ripple’s XRP but also spurred a wave of excitement in the XRP Ledger (XRPL)-based meme coin market. Tokens like ARMY, BEAR, and MAG have become key players in this space, seeing exponential growth as they ride the coattails of XRP’s success. With XRP’s market cap reaching new heights, the meme coin market on the XRPL is attracting attention from investors and crypto enthusiasts alike.
By TradingView – XRPUSD_2024-12-03 (YTD)
Top XRP Meme Coins Surge: ARMY
In recent weeks, XRP has been one of the hottest cryptocurrencies on the market, with a staggering rise of 441.5% over the last month. This surge has given rise to a new phenomenon—XRPL-based meme coins, which are now showing impressive gains. One of the standout tokens, ARMY, which XRP supporters created, has seen its market cap skyrocket from under $1 million to over $90 million in a matter of days, although it has since settled to around $47 million. This surge has led to massive profits for early ARMY investors, with some turning a mere $478 investment into $100,000 in realized gains.
By CoinMarketCap – ARMYUSD Performance (1D)
Other XRPL Meme Coins Joining the Surge
ARMY isn’t the only XRPL meme coin making waves. Tokens like BEAR are also experiencing rapid growth, with BEAR increasing by 395.6% over the last 30 days. As a result, these coins have joined ARMY in the top 10 meme coins on the XRPL, each boasting market caps near $30 million. While the volume of meme coin trading on the XRPL is still modest compared to other networks like Solana and Ethereum, the momentum is undeniable.
By First Ledger – Top Meme Coins by Market Cap
XRP’s Expanding Ecosystem and Network Growth
Another key factor contributing to XRP’s success is the rapid expansion of its network. On December 2, the XRP Ledger reduced the base reserve requirements for wallets, making it easier for new users to join the ecosystem. This move is expected to lower barriers to entry and accelerate adoption, further fueling the rise of XRP and its meme coins. Additionally, the creation of over 22,000 new XRP wallets in a single day highlights the increasing popularity of the network, which could pave the way for even more growth in the future.
Why XRP Price Surge Is Driving Meme Coin Gains
The XRP price surge has created a ripple effect, with meme coins on the XRPL gaining traction as a result. As XRP becomes more mainstream, the meme coin market has followed suit, steadily increasing trading volume and user adoption. ARMY, for example, saw a 50.2% rise in just 24 hours, outpacing other well-known meme coins like Dogecoin and Shiba Inu. This is a clear indication that the XRPL ecosystem is gaining momentum, driven by XRP’s success and the growing enthusiasm surrounding its community.
Challenges for the XRP Meme Coin Market
Despite these promising developments, there are still challenges ahead for XRP-based meme coins. The volume of meme coin trading on the XRPL is significantly lower than on networks like Solana and Ethereum, where top tokens are trading billions of dollars in volume. For instance, ARMY’s daily trading volume of $10 million is far behind the 34 tokens on Solana that achieve similar numbers. Additionally, the infrastructure for meme coin trading on the XRPL is still developing, and it remains to be seen whether this market can sustain its growth.
The Future of XRP and Meme Coins
Looking ahead, the future of XRP and its associated meme coins appears bright. As regulatory clarity increases around XRP, the potential for growth is significant. XRP’s recent rise to the third-largest cryptocurrency by market cap, surpassing Tether, has fueled optimism, particularly in the wake of speculations about XRP exchange-traded funds (ETFs) and improving regulatory conditions. As XRP continues to break new records, it is likely that the XRPL-based meme coin market will continue to grow, attracting more investors and traders in the process.
By TradingView – XRPUSD_2024-12-03 (All)
