XRP Meme Coins and Ecosystem Tokens Surge as Ripple’s Altcoin Hits $3
- XRP surged to $3, its highest price since 2018, driving renewed interest in the XRP Ledger and meme coins.
- Meme coins like ARMY and PHNIX saw significant gains, with ARMY reaching a $107M market cap and rising 30% in one day.
- Optimism about XRP ETFs and reduced ledger costs have fueled activity, pushing XRP to outperform other major cryptocurrencies.
XRP reached $3 today, marking its highest price since 2018. The surge coincided with a resurgence of XRP meme coins, driving significant activity on the network.
The XRP Ledger also saw increased activity in the past week as the number of DApps and active wallets continue to grow on the network.
XRP Meme Coins Rally
Among these tokens, ARMY led the charge, climbing nearly 30% in 24 hours to reach a record market cap of $107 million. ARMY is a nod to the XRP token’s dedicated supporters, often referred to as the “XRP Army.”
Other meme coins, such as PHNIX and LIHUA, also posted impressive gains. Within a day, both meme coins recorded $1 million in secondary trading volumes. Their market caps rose to $45.6 million and $35.4 million, respectively.
This rally follows a trend that began in early December when the XRP Ledger experienced a surge in account activations and transaction volume.
During that period, ARMY reached a $100 million market cap before plummeting to $20 million. Recent gains suggest renewed interest in meme coins, buoyed by XRP’s strong performance.
XRP’s price is now just 12% below its all-time high of $3.40. Sologenic (SOLO), the second-largest token on the XRP Ledger, has also seen sustained growth.
The token gained 7% in a day and over 25% in a week. Since November, SOLO’s market cap has surged by more than 200%, tracking XRP’s upward momentum.
The network became cheaper to use in December after validators approved a 90% reduction in reserve costs.
According to DappRadar, the number of unique active wallets and Dapp transactions also saw a notable increase over the past week. This increased activity coincided with the initial spike in XRP meme coin activity.
XRP has outperformed other major cryptocurrencies this week, rising 28% to claim the third spot by market cap. Analysts attribute this rally to optimism surrounding the potential approval of XRP ETFs, which could attract significant investment.
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