XRP Meme Coins Surge as XRP Price Hits Seven-Year High
XRP hit $3 today, its highest price since 2018. The surge coincides with the resurgence of the XRP meme coin, driving significant activity on the network.
XRP Ledger activity has also increased over the past week as the number of DApps and active wallets on the network continues to grow.
XRP Meme Coin Rally
Among these coins, ARMY leads the way, rising nearly 30% in 24 hours to reach a record market capitalization of $107 million. ARMY is a tribute to the loyal supporters of the XRP token, often referred to as the “XRP Army.”
other Meme CoinCompanies such as PHNIX and LIHUA also posted impressive gains. In one day, secondary trading volume for both Meme tokens reached $1 million. Their market caps rose to $45.6 million and $35.4 million respectively.
The rally follows a trend that began in early December, when XRP Ledger experiences surge Account activations and trading volume.
During that period, ARMY market value reaches US$100 million Then it plummeted to $20 million. Recent gains point to renewed interest in meme coins, fueled by XRP’s Strong Performance.
The price of XRP is currently just 12% below its all-time high of $3.40. Sologenic (SOLO), the second largest token on the XRP Ledger, has also seen continued growth.
The coin gained 7% in a day and more than 25% in a week. Since November, SOLO’s market value has soared more than 200%, tracking XRP’s rising momentum.
The network became cheaper to use in December after validators approved a 90% reduction in reserve costs.
according to dapredaThe past week has also seen significant growth in the number of independent active wallets and Dapp transactions. This increase in activity coincides with the initial surge in XRP meme coin activity.
XRP outperforms other major cryptocurrencies This week, the company’s share price rose 28%, ranking third in market value. Analysts attribute the rebound to optimism surrounding the economy Potential approval of XRP ETFwhich could attract significant investment.
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