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XRP’s 400% surge over the past month has ignited a wave of growth for Meme Coins in the Ripple ecosystem.
XRP Meme Coins such as ARMY, 589, XPILL, PHNIX and RIPPY have recorded significant gains, attracting attention across the Cryptocurrency market.
Meme Coin XRP Is Increasing in Popularity
ARMY, an XRP community-inspired token known as “XRP Army,” surged 30% on Tuesday, November 3, before experiencing liquidation. According to data from Dexscreener ARMY has seen its market capitalization rise from under $1 million to a peak of $90 million in just one week. However, it then encountered a strong correction when investors sold to gain profits.
Another XRP Meme Coin, 589, named after the community-set price target for XRP, has increased over 100% over the course of the week. The market capitalization of this Token quickly reached 8 million USD.
The widespread success of ARMY and the rise of XRP has stimulated a new wave of Meme Coins to appear on the XRP Ledger (XRPL). Most notably, these Meme Coins were released just weeks after XRP hit its highest price in six years.
RIPPYone of the newest tokens launched on Monday, recorded an unprecedented price increase, reaching 22,825% at its peak.
“We will soon see a Meme Coin worth over 1 billion USD on XRP. XRP Holders are the most common, it is impossible not to happen,” said on-chain analyst Tradinator write on X (formerly Twitter).
XRPL Could Challenge Solana’s Dominance In Meme Coin Field
To date, Solana dominates the Meme Coin sector, with a total market capitalization of tokens reaching over $21 billion. Increased activity on Solana has pushed up transaction fees, helping the network rake in $78 million in fees over the past week, surpassing Ethereum.
However, this growth has raised concerns about long-term scalability and the risk of bottlenecks if Solana’s infrastructure cannot adapt.
With XRP Meme Coins gaining momentum, XRPL could emerge as a strong candidate for hosting the new generation of meme tokens.
There is also high potential for the XRPL ecosystem to witness significant developments. With the regulatory landscape in the United States seemingly improving for Cryptocurrencies, Ripple is likely to fall off the SEC’s radar.
Ripple is also launching its own stablecoin, which is expected to be approved as early as this week. With XRP seeing its biggest bull run since 2018, there could be more scalability and positive developments for XRPL. This also means more opportunities for XRP Coin Memes.
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