XRP has seen tremendous growth of 92% over the past week, with particular attention focused on meme coins within the XRP Ledger (XRPL) network, which are experiencing even more significant increases. Among these, ARMY—a meme coin launched just 18 months ago—has emerged as a leading player. It surged from a market cap of less than $1 million on November 26 to over $90 million, although it has since receded to approximately $47 million. This meteoric rise has allowed early investors in ARMY to realize substantial profits, with one trader reportedly amassing over $100,000 in earnings from an initial investment of just $478 three weeks ago, according to data from DEX Screener. This rapid growth highlights the increasing interest and participation in the XRP ecosystem.
Other notable tokens, such as BEAR and MAG, have also joined ARMY in gaining traction, each reaching market caps just under $30 million and solidifying their positions among the top ten meme coins on the XRPL. The explosive potential for profit has attracted attention from crypto influencers and traders across different platforms, especially within the Solana and Ethereum communities. These personalities are sharing insights and tutorials, aimed at helping new users navigate the XRPL ecosystem while utilizing various trading tools and platforms. Examples of such resources include the Telegram-based trading bot FirstLedger, the XRP wallet Xaman, and Magnetic X, a decentralized exchange (DEX) specifically designed for the XRPL.
Despite these developments, trading volumes for Ripple’s meme coins are still quite low compared to those seen on other blockchains. For instance, ARMY logged around $10 million in trading volume during a 24-hour period, while 34 different tokens on Solana achieved similar results, according to DEX Screener metrics. This discrepancy highlights the nascent state of the meme coin trading infrastructure on the XRPL, creating skepticism among some traders regarding the long-term viability of this burgeoning ecosystem. Some seasoned voices in the crypto community express concern about the hype surrounding these coins, suggesting caution in the face of potentially overheated market sentiment.
Crypto personalities like Noodles have publicly voiced their reluctance to engage with meme coins on the XRP platform, citing apprehension over the volatility and unpredictability associated with such investments. Noodles tweeted, “I refuse to trade Ripple meme coins…it’s too much even for a degen like me.” This sentiment underscores a broader skepticism that exists within parts of the crypto community, where some traders prefer to distance themselves from what they perceive as risky investments in newly launched or less stable coins. Such caution may deter some potential investors from diving into the XRPL meme coin scene.
The recent surge in XRP’s value has also led to market shifts that saw Ripple-linked XRP surpass Tether, positioning it as the third-largest cryptocurrency by market cap over the weekend. This significant milestone coincides with rising speculation regarding the potential approval of XRP exchange-traded funds (ETFs), indicating a growing interest in regulatory clarity surrounding the cryptocurrency. As hopeful investors look toward a possible regulatory framework, the increasing market cap and trading activity on the XRP Ledger signal a burgeoning interest in this blockchain, even as some traders remain skeptical about the sustainability of the current trends.
Overall, the rapid rise of XRP and its meme coins represents both an opportunity and a risk in the burgeoning landscape of cryptocurrency. With historical gains reported by traders, the XRPL ecosystem is drawing new users and interest across various platforms. However, the low trading volume compared to established networks and a healthy skepticism from experienced traders paints a complex picture of market dynamics. As cryptocurrency investors weigh potential rewards against risks, the ongoing developments in the XRP ecosystem may serve as a pivotal moment for both new and seasoned traders alike, as they navigate the exciting yet volatile world of digital assets.
