Ripple’s XRP Ledger (XRPL) is becoming a focal point for crypto enthusiasts, with meme tokens like ARMY, 589, XPILL, PHNIX, and RIPPIE seeing remarkable rises.
The increase follows the resurgence of Ripple’s XRP token, which rose 88% over the past seven days, a feat that catapulted it into the market. third largest cryptocurrency by market capitalization.
THE ARMY launches the charge
The initial charge of XRPL coins was led by ARMY, a token that has been around for about a year and a half. It draws inspiration from the huge XRP community, commonly known as the “XRP Army”.
Data from Dexscreener shows that over the past week, ARMY’s market capitalization rose from less than $1 million to $90 million at its peak before stabilizing around the $47 million level. However, it has since fallen further, losing more than half its value in 24 hours. Nonetheless, its $26.3 million valuation makes it the most capped meme coin in the XRPL ecosystem.
Early investors profited handsomely from the meme coin’s initial surge, with one trader apparently turning a $478 purchase into more than half a million in realized and unrealized gains in less than three weeks.
Another token that quickly caught on was 589, named after the community’s ambitious price target for XRP. It reached a market cap of $8 million at one point, fueled by a 160% price rise in 24 hours. However, at the time of writing, it was changing hands at around $0.0005513, bringing its overall value down to $2.9 million.
New Meme Coins Gain Momentum
The success of ARMY and the rise of XRP in the broader crypto market has inspired dozens of new meme coins on XRPL, several of which have seen incredible performance over the past 24 hours.
Dexscreener shows that the best performing XRP meme coin in the last day was RIPPY, which skyrocketed by 22.825% at one point. At the time of writing, the token, which is only a few days old, was still up around 17,694%, with a price of around $0.00116, putting its market cap around 1. 1 million dollars.
The next best XRP token was XPILL, up 13,128%, according to Dexscreener, with a modest valuation of $88,000. Another new coin, PHNIX, has also soared over 12,000% since its launch. SAM, bwif, RIPPIE and NOX also saw increases of over 1,000% over 24 hours, with bwif performing particularly well over the past six hours, gaining 7,710% on its price during this period.
The growth of these XRPL tokens has not gone unnoticed, with influential traders from Ethereum and Solana now exploring the chain and even offering tutorials to guide new participants on how to trade meme coins on Ripple.
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