The post XRP Soars as Meme Coins on XRP Ledger Experience Explosive Growth Amidst Market Interest appeared on BitcoinEthereumNews.com.

The resurgence of meme coins on the XRP Ledger is making waves as XRP itself skyrockets, hitting seven-year highs with astounding gains exceeding 400% this week. The impressive performance of XRP, which is up 92% over the past week, is spurring interest in lesser-known meme coins within the XRPL ecosystem, drawing users from competing blockchains. Notably, the meme coin ARMY has experienced a meteoric rise in market cap, highlighting the enthusiasm of XRP supporters dubbed the “XRP Army,” and has drawn attention from both traders and crypto influencers alike. Explore the explosive growth of meme coins on the XRP Ledger as XRP hits record highs, capturing the attention of the crypto community. Remarkable Growth of Meme Coins on XRP Ledger The current surge in meme coins on the XRPL is vividly illustrated by the extraordinary ascent of ARMY, which has skyrocketed from a market cap of under $1 million to over $90 million before settling around $47 million. This rally represents a significant opportunity for early investors, particularly those who bought into ARMY just weeks ago. One notable trader reportedly has turned a mere $478 investment into astonishing unrealized gains of $400,000, showcasing the potential profitability within this emerging market. Comparative Trading Activity on Other Blockchains Despite the enthusiastic trading of meme coins on the XRP Ledger, the volume of transactions remains minimal when compared to established platforms like Solana and Ethereum. During the last 24 hours, ARMY recorded around $10 million in trading volume, while 34 tokens from Solana achieved similar volume figures. This disparity highlights both the nascent stage of the XRPL meme coin infrastructure and the likely skepticism regarding its sustainability as market dynamics evolve. Community Response and Skepticism The rapid uptake of meme coins has elated many within the XRP community, yet it has also provoked…

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Filed under: News - @ December 3, 2024 2:11 am