The cryptocurrency landscape is experiencing a fascinating shift, with XRP capturing headlines due to its remarkable growth. In a mere week, XRP has soared by an astounding 89.5%. However, there’s an even more thrilling narrative unfolding within the XRPL-based meme coin market. Curious to dive deeper into these developments? Continue reading to uncover the latest trends and insights.
XRP’s Meteoric Rise and Meme Coin Gains
Recently, XRP enthusiasts have had much to celebrate. Over the past 30 days, XRP has achieved a staggering 441.5% surge, outpacing all other top ten cryptocurrencies. This extraordinary performance has ignited excitement across the crypto community. Amidst this buzz, an unexpected trend has emerged within the XRPL-based meme coin market, leaving many meme coin enthusiasts speechless with anticipation.
A selection of XRPL-based meme coins, including ARMY, BEAR, and MAG, have demonstrated impressive growth recently, drawing significant attention from investors and analysts alike.
ARMY’s Spectacular Growth
Despite a general decline in the meme coin market, with a 4.2% drop within the last 24 hours, the XRPL-based meme coin market stands out as an anomaly. This segment seems more inclined to mirror the upward trajectory of XRP rather than follow the broader meme coin trend. In just 24 hours, ARMY, a leading XRPL-based meme coin, has experienced a remarkable 50.2% increase, vastly outperforming Dogecoin’s -2.4%, Shiba Inu’s -0.1%, Pepe’s +0.2%, Bonk’s +0.2%, and Dogwifhat’s 2.35%.
This impressive growth reflects heightened market activity, with ARMY’s trading volume surging by at least 48%, underscoring its rising prominence in the meme coin sphere.
XRPL Meme Coins Gaining Momentum
ARMY is not alone in its spectacular performance within the XRPL-based meme coin market. BEAR, another notable coin, has mirrored this trend with an impressive 395.6% rise over the past 30 days. In just the last two weeks, BEAR’s market has grown by 224.4%, solidifying its position alongside ARMY.
This surge in interest has led to reports of increased user migration from platforms like Solana and Ethereum to the XRP Ledger, further contributing to the burgeoning momentum of XRPL-based meme coins.
Volume Comparison and Market Concerns
While these developments are promising, it is essential to maintain perspective. The notion of XRPL completely overtaking the meme coin market remains premature. Analyzing trading volumes highlights this reality. The daily trading volumes of leading meme coins like Dogecoin ($11,929,910,703), Shiba Inu ($3,149,361,501), Pepe ($4,666,566,941), and Bonk ($754,672,721) far exceed those of ARMY ($74,388.56) and BEAR ($2,085,276).
Therefore, while XRPL-based meme coins are gaining traction, they still have a significant journey ahead to challenge the dominance of established players in the meme coin segment.
XRP’s Market Achievement
The achievements of the XRP market should not be overshadowed. Notably, XRP has climbed to become the third-largest cryptocurrency by market capitalization, surpassing Tether. This ascent is fueled by speculation regarding the potential launch of XRP ETFs and reports of improving regulatory clarity, which are instilling the necessary optimism for continued market growth.
As the cryptocurrency market continues to evolve, keeping an eye on these dynamic shifts can provide valuable insights for investors and enthusiasts alike.
