XRP’s 400% Rally Drives Surge in Meme Coins on XRPL
XRP’s #XRP has experienced a 400% rally in the past month, securing its position as the third-largest cryptocurrency by market cap and stimulating activity on the XRP Ledger (XRPL). Meme coins, previously prevalent on other blockchains, are growing rapidly on XRPL.
Leading the trend is ARMY, a token launched in 2023 that honors XRP’s community. ARMY’s market cap increased from under $1 million to $90 million over the weekend, later correcting to around $47 million. Early investors have seen significant returns; one investor turned a $478 investment into over $100,000 in realized profit, with an additional $400,000 in unrealized gains.
In a recent post on its X account, ARMY described its rapid growth as a “healthy pullback” while acknowledging volatility. The team aims for a market cap of $589 million, representing a 2,000% increase, and $1.178 billion for future growth, aiming to become the first billion-dollar meme coin on XRPL.
Other meme coins like BEAR and MAG have also grown, each valued just under $30 million and ranking in the top 10 XRPL meme coins by market cap.
Despite the excitement, meme coin trading on XRPL still trails behind established networks like Solana. Concerns about the trading infrastructure and sustainability of the ecosystem have led to skepticism. Crypto personality Noodles noted that XRPL meme coin trading seemed excessive.
Institutional Interest Boosts XRP
XRP’s market cap has surpassed $150 billion due to retail enthusiasm and potential institutional developments. Currently trading at $2.63, XRP has risen 13% in the last 24 hours but remains 31% below its all-time high of $3.84 from 2018.
Interest in XRP-focused exchange-traded funds (ETFs) is increasing, alongside optimism for a more crypto-friendly regulatory environment should Trump return to office. Analysts speculate that the SEC's legal appeal against Ripple may soon be dropped, enhancing confidence in XRP’s future.
While the XRP Army celebrates its token's achievements, many remain cautious about XRPL meme coins due to concerns over market overheating. Nonetheless, interest in XRP’s rally and its associated meme coin ecosystem continues to grow.