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Crypto Potato 2024-12-03 13:24:57

Ripple Meme Coins Witness Unprecedented Growth on the Back of XRP Surge

Ripple’s XRP Ledger (XRPL) is becoming a focal point for crypto enthusiasts, with meme tokens like ARMY, 589, XPILL, PHNIX, and RIPPIE seeing remarkable upticks. The surge comes in the wake of a resurgence in Ripple’s own XRP token, which is up 88% in the last seven days, a feat that catapulted it into the third-largest cryptocurrency by market cap. ARMY Kickstarts Charge The initial XRPL meme coin charge was led by ARMY, a token that has been around for roughly one and a half years. It is inspired by the huge XRP community, popularly referred to as the “XRP Army.” Data from Dexscreener shows that over the past week, ARMY’s market cap grew from less than a million dollars to a staggering $90 million at its peak before stabilizing around the $47 million level. However, it has since dropped further, losing more than half its value across 24 hours. Still, its $26.3 million valuation marks it as the highest-capped meme coin on the XRPL ecosystem. Early investors profited handsomely from the meme coin’s initial jump, with one trader reportedly turning a $478 buy into more than half a million in realized and unrealized gains in less than three weeks. Another token that caught on quickly was 589, named after the community’s aspirational price target for XRP. It reached a market cap of $8 million at one point, fueled by a 160% price spike within 24 hrs. However, at the time of writing, it was changing hands at about $0.0005513, bringing its overall value down to $2.9 million. Newer Meme Coins Gain Momentum ARMY’s success and XRP’s pump in the broader crypto market have inspired tens of new meme coins on XRPL, several of which have registered incredible performances in the last 24 hours. Dexscreener shows that the best-performing XRP meme coin in the last day was RIPPY, which skyrocketed by an eye-popping 22,825% at one point. At the time of writing, the token, which is only days old, was still up by some 17,694%, with its price around $0.00116, placing its market cap around the $1.1 million range. The second-best XRP meme token was XPILL, up 13,128%, per Dexscreener, with a modest $88,000 valuation. Another new coin, PHNIX, has also shot up by more than 12,000% since its launch. SAM, bwif, RIPPIE, and NOX have also recorded upticks above 1,000% over 24 hours, with bwif performing particularly well in the last six hours, having gained 7,710% on its price in that period. The growth of these XRPL tokens hasn’t gone unnoticed, with influential traders from Ethereum and Solana now exploring the chain and even offering tutorials to guide new participants on how to trade meme coins on Ripple. The post Ripple Meme Coins Witness Unprecedented Growth on the Back of XRP Surge appeared first on CryptoPotato .

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