XRP hit $3 USD today, marking its highest price since 2018. This surge coincided with the resurgence of XRP Meme Coins, generating significant activity on the network.
XRP Ledger also saw an increase in activity over the past week as the number of active DApps and wallets continued to increase on the network.
Growth of Meme Coin XRP
Among these coins, ARMY leads the trend, rising nearly 30% in 24 hours to reach a record market capitalization of $107 million. ARMY is an expression of gratitude to the ardent supporters of XRP, commonly known as the “XRP Army.”
Other Meme Coins, such as PHNIX and LIHUA, also recorded impressive gains. Within a day, both of these Meme Coin Coins reached a secondary trading volume of 1 million USD. Their market capitalization increased to $45.6 million and $35.4 million, respectively.
This follows a trend that began in early December when the XRP Ledger experienced a boom in account activation and trading volume.
During that period, ARMY reached a capitalization of $100 million before dropping to $20 million. Recent gains show renewed interest in Meme Coins, fueled by XRP’s strong performance.
XRP’s price is currently just 12% away from its all-time high of $3.40. Sologenic (SOLO), the 2nd largest coin on the XRP Ledger, also saw sustained growth.
The coin is up 7% on the day and more than 25% on the week. Since November, SOLO’s market capitalization has increased by more than 200%, following the rise of XRP.
The network became cheaper to use from December after regulators approved a 90% reduction in reserve costs.
According to DappRadarthe number of unique active wallets and Dapp transactions also increased significantly over the past week. This increased activity coincided with the first explosion of XRP Coin Memes.
XRP has outpaced other major cryptocurrencies this week, gaining 28% to take the 3rd spot by market capitalization. Analysts attribute this price surge to optimism surrounding XRP’s possible ETF approval, which could attract significant investment.
