TLDR
XRP has surged 92% in seven days, reaching seven-year highs and flipping Tether for third place by market cap
ARMY meme coin on XRP Ledger jumped from $1M to $90M market cap in a week
One early ARMY trader turned $478 into $500,000 in combined realized and unrealized gains
Other XRP meme coins like BEAR and MAG have seen major gains, reaching $30M market caps
Trading infrastructure for XRP meme coins is still developing, with lower volumes compared to other chains
The XRP token has achieved a remarkable price increase of 92% over the past seven days, reaching levels not seen in seven years. This surge has propelled XRP past Tether to become the third-largest cryptocurrency by market capitalization, trailing only Bitcoin and Ethereum.
In the wake of XRP’s price surge, a new trend has emerged on the XRP Ledger (XRPL): meme coins are experiencing unprecedented growth. Leading this movement is ARMY, a meme token named after XRP’s dedicated community of supporters, which has seen its market value skyrocket from less than $1 million to more than $90 million in just over a week.
The rapid rise of ARMY has created notable success stories among early investors. One trader, who invested just $478 three weeks ago, has already realized more than $100,000 in profit and holds additional unrealized gains of $400,000, according to data from DEX Screener.
ARMY isn’t alone in this surge. Other meme tokens on the XRP Ledger, including BEAR and MAG, have also seen their market caps climb to nearly $30 million each. This growth has attracted attention from traders typically focused on other blockchain ecosystems, including those from Solana and Ethereum communities.
The increasing interest has led to the emergence of various trading tools and platforms. FirstLedger, a Telegram-based trading bot, has gained popularity among new users. Additionally, the XRP wallet Xaman and Magnetic X, a decentralized exchange built on XRPL, have become essential tools for traders entering the ecosystem.
Trading volumes for XRP meme coins, however, remain modest compared to their counterparts on other blockchains. While ARMY has recorded approximately $10 million in 24-hour trading volume, more than 34 tokens on the Solana network each surpassed this figure during the same period.
The XRP price surge coincides with several market factors, including speculation about potential XRP exchange-traded funds (ETFs) and expectations of clearer regulatory guidelines following recent political developments.
The trading infrastructure for meme coins on the XRP Ledger is still in its early stages, which has led some experienced crypto traders to approach with caution. The pseudonymous crypto personality Noodles expressed skepticism on X (formerly Twitter), stating, “I refuse to trade Ripple meme coins. It’s too much even for a degen like me.”
I refuse to buy meme coins on Ripple.
It’s too much, even for a degen like me… Too much!
— Noodles (@criptopaul) December 1, 2024
As the ecosystem develops, new trading pairs and liquidity pools continue to emerge. The growing number of participants has led to increased activity across various XRPL-based platforms and exchanges.
The market movement has drawn particular attention from retail investors, who are showing increased interest in learning how to participate in the XRP meme coin ecosystem. This has resulted in a proliferation of online tutorials and guides aimed at newcomers.
The total value locked in XRP meme coin liquidity pools has grown substantially, though exact figures fluctuate rapidly due to market volatility. Trading activity has increased across multiple time zones, indicating global participation in the market.
Despite the rapid growth, some market observers note that the meme coin ecosystem on XRP Ledger lacks the depth and sophistication of more established blockchain networks. The available trading pairs are more limited, and price impact for larger trades can be substantial.
Market data shows that trading activity peaks during Asian market hours, suggesting strong participation from that region. However, trading volume is increasingly spreading across different time zones as awareness grows.
The market cap of ARMY has since adjusted to approximately $47 million, highlighting the volatile nature of meme coin trading. This represents a common pattern in cryptocurrency markets where rapid gains are often followed by price corrections.
The most recent data indicates continuing growth in the number of unique addresses interacting with XRP meme coins, with new wallets being created at an accelerated rate compared to previous months.
The post XRP Ledger Meme Tokens See Rapid Value Growth in December appeared first on Blockonomi.
