XRP’s Price Surge Sparks Interest in Meme Coins on XRPL, Potentially Challenging Solana’s Dominance
The post XRP’s Price Surge Sparks Interest in Meme Coins on XRPL, Potentially Challenging Solana’s Dominance appeared on BitcoinEthereumNews.com.
XRP’s remarkable 400% rally has ignited a surge in meme coins within the Ripple ecosystem, drawing attention from investors and analysts alike. Tokens like ARMY, 589, and newly launched RIPPY have not only gained momentum but have also spurred on the development of additional meme tokens on the XRPL. As noted by on-chain analyst Tradinator, “We should see a $1B+ meme coin on XRP very soon,” reflecting the growing confidence in the ecosystem. This article explores the recent surge of XRP meme coins including ARMY and RIPPY, while analyzing their potential to outpace Solana in the meme coin sphere. Momentum Builds for XRP Meme Coins Amid Market Surge The recent 400% rally of XRP has substantially impacted the meme coin landscape, with various tokens within the Ripple ecosystem posting impressive gains. ARMY, a token deeply rooted in the XRP community, recorded an astounding market cap surge from under $1 million to a peak of $90 million. This spike, while experiencing retracements as profit-taking occurred, underscores the volatile yet promising nature of these assets. XRP Meme Coin ARMY Weekly Price Chart. Source: Dexscreener In addition to ARMY, the token 589, which draws its name from a community-driven price target, has enjoyed over 100% growth this past week. Its market capitalization hit around $8 million before stabilization occurred. The recent bullish trend initiated by XRP has not only rejuvenated existing tokens but also catalyzed the launch of new players in the market, notably RIPPY, which astonishingly increased by more than 22,000% in its debut day. XRPL Emerges as a Contender to Solana’s Meme Coin Stronghold Historically, Solana has maintained dominance in the meme coin market, controlling a staggering $21 billion in market capitalization. However, the platform’s success has introduced concerns regarding scalability and ongoing transaction fees, which recently surged to $78 million…
Filed under: News - @ December 4, 2024 1:21 am