XRP The price of meme coins, which are based on the XRP Ledger network (XRPL), has increased by 92% over the past seven days. This is due to the fact that the network attracts more users than other blockchains.
The charge is led by an 18-month-old meme coin, ARMY—a reference to the so-called XRP Army of enthusiastic investors and supporters—which jumped from less than a $1 million market cap on November 26 to more than $90 million on Sunday, though it has since dipped to about $47 million as of this writing.
One early ARMY trader has realized more than From a $478 purchase made 21 days prior, $100,000 profit was realized with an additional $400,000 unrealized gain. According to DEX Screener.
Other tokens such as BEAR and MAG also jumped multiples. They now join ARMY among the top 10 XRP Ledger Meme Coins by Market Cap, with each having a value just below $30 Million as at this time.
Some users have taken note of the gains that traders are making. Offering tutorials The crowd will get going if you help them.
These posts point users towards trading tools such as the Telegram trading bot FirstLedger and XRP wallet Xaman. They also mention Magnetic X which is a DEX on XRPL.
How do you buy meme coins on xrp, I ask?
— gainzy (@gainzy222) December 1, 2024
Ripple and its ecosystem are becoming more popular, but the trading volume for meme coins is still far below that of other blockchains. According to DEX screener, ARMY, for example, traded almost $10 million over the past 24 hours. 34 tokens achieved that same feat on Solana.
Others have taken a stance against this trade due to the nascency and lack of infrastructure for trading meme coins on the XRP Ledger. They are also skeptical about its long-term viability in a possibly overheated environment.
Ripple refuses to sell me meme coins.
It’s too much, even for a degen like me… Too much!
— Noodles (@criptopaul) December 1, 2024
“I refuse to trade Ripple meme coins,” Noodles, a pseudonymous crypto-personality on X. “It’s too much even for a degen like me.”
Ripple’s XRP is linked to the Ripple currency Tether is now the third largest cryptocurrency Market cap for the past weekend. This coincides with the weekend. XRP ETFs are generating a lot of speculation The expectations for ETFs Clarity in regulatory matters.
Andrew Hayward is the editor