Amid the impressive XRP price performance, market commentators identify the growing XRP meme coin market as a gold mine.
For context, XRP recently reclaimed the $3 mark for the first time since 2018, triggering a renewal of interest from the broader crypto community. As investors turn their attention to XRP, a growing trend within its ecosystem has gone unnoticed: the rise of meme coins on the XRP Ledger (XRPL).
Notably, the XRPL meme coin market first gained traction after the launch of Memepad, a token issuance platform by Magnetic X, in October 2024. However, the momentum soared with the introduction of First Ledger, another launchpad that led to a record number of daily token issuances on the XRPL by late October.
Prominent XRP community figures have called attention to this trend, noting the potential of meme coins. Polly, a prominent trader, noted that investors looking to capitalize on the ecosystem’s growth should own XRP meme coins.
“You are Not Locked in”
Polly suggested that investors who overlook XRPL meme coins in their portfolios are not truly “locked in,” a term popular in the community that refers to staying focused on the right opportunities to achieve maximum returns.
If you don’t have any $XRP memecoins in your portfolio rn. You’re not locked in
— Polly (@0xsushi) January 14, 2025
Interestingly, other XRP community figures hold a similar outlook. Crypto Bitlord, a notable commentator, highlighted several top-performing meme coins on the XRPL. He identified ARMY, JELLY, RipTard, PHINX and PONGO as standout tokens with active communities and strong performance.
Bitlord suggested these coins range from blue-chip investments to speculative ones. However, he warned of risks associated with some meme coins, including team-led sell-offs and rug pulls.
Meanwhile, crypto investor Juke singled out RIBBLE as a promising token, noting its market cap growth from $250,000 to $800,000. Juke emphasized that frog-themed tokens have historically performed well, suggesting that RIBBLE has the potential to lead during the next wave of volume spikes.
I posted about $RIBBLE at $250k mc, now at $800k.
I see this as a leading meme on $XRP when volume inflows begin to spike. Frog memes have historically done well, and the ticker ribble is literally ripple with the p’s upside down and a frog noise.
The writing is on the wall pic.twitter.com/LCuTlTKEWx
— Juke🔮💎 (@jukeybean) January 14, 2025
Despite the enthusiasm, some in the community have advised caution. Edoardo Farina, founder of Alpha Lions Academy, reminded investors of the high risks involved with new meme coins.
Farina noted that some tokens could lose over 90% of their value within minutes, urging traders to stick with well-established meme coins such as DROP, PHNIX, ARMY, BERT, and SIGMA.
Be careful everyone new Meme coins can rug over 90% in just minutes ☠️
You have better chances to stick with the OG ones:
– $DROP
– $PHNIX
– $ARMY
– $BERT
– $SIGMA(…) pic.twitter.com/o6nG85uwB9
— EDO FARINA 🅧 XRP (@edward_farina) January 10, 2025
Top XRP Meme Coins on First Ledger
Notably, the surge in meme coin launches has led to notable achievements on the XRPL. Data from First Ledger reveals ARMY as the largest meme coin by market capitalization, worth $85.5 million, with 11,657 holders and 47.9 million XRP in total trading volume.
Top XRP Meme Coins | First Ledger
PHINX follows as the second largest, boasting a $39.3 million market cap, 13,914 holders, and a trading volume of 40.2 million XRP. Other leading tokens include LIHUA, valued at $23.5 million, SLT at $20.9 million, and DROP at $15.6 million.
