XRP’s remarkable rally has propelled the growth of meme coins like ARMY on the XRP Ledger, but skepticism about long-term sustainability persists.
By Anisha Pandey
Edited by Julia Sakovich
Updated
3 mins read
XRP’s XRP $3.11 24h volatility: 2.5% Market cap: $179.24 B Vol. 24h: $4.30 B astonishing 400% rally over the past month has not only cemented its position as the third-largest cryptocurrency by market cap but has also ignited a wave of activity on the XRP Ledger (XRPL). Meme coins, a phenomenon previously dominant on other blockchain networks, are now experiencing exponential growth on XRPL.
Leading the charge is ARMY, a token launched in 2023 and a tribute to XRP’s dedicated community, often called the XRP Army. ARMY skyrocketed from a modest market cap of under $1 million last week to a staggering $90 million over the weekend.
Despite a subsequent correction to approximately $47 million, early ARMY investors are seeing extraordinary returns. As per the data by DEX Screener, one ARMY trader turned a $478 investment into over $100,000 in realized profit, with an additional $400,000 in unrealized gains.
In a recent post on its official X account, ARMY reflected on its rapid ascent. It described the recent market activity as a “healthy pullback”. While acknowledging the token’s volatility, it hinted at a roadmap filled with ambitious milestones. The team projected targets of $589 million for its next phase, which translates to a 2,000% increase, and $1.178 billion for subsequent growth, positioning ARMY as the first billion-dollar meme coin on the XRPL.
Other meme coins, including BEAR and MAG, have also seen major growth, both securing spots in the top 10 XRPL meme coins by market cap, each valued at just under $30 million.
Despite the enthusiasm, meme coin trading on XRPL still lags behind more established networks like Solana. Skeptics argue that the nascent trading infrastructure for meme coins on XRPL and concerns over the ecosystem’s sustainability have tempered broader adoption. Pseudonymous crypto personality Noodles expressed their hesitation on X, calling XRPL meme coin trading “too much even for a degen” like them.
XRP itself has recently seen its market cap surpass $150 billion, thanks to a combination of retail enthusiasm and potential institutional developments. The token, currently trading at $2.63, has climbed 13% in the past 24 hours but remains 31% below its all-time high of $3.84 set in 2018.
Institutional interest in XRP-focused exchange-traded funds (ETFs) has been growing, alongside optimism surrounding a more crypto-friendly regulatory environment under Trump’s potential administration. Analysts also speculate that the Securities and Exchange Commission’s (SEC) ongoing legal appeal against Ripple might soon be dropped, further bolstering confidence in XRP’s long-term prospects.
As the XRP Army watches its token scale new heights, many are approaching XRPL meme coins with caution, wary of an overheated market. However, the buzz surrounding XRP’s rally and related meme coin ecosystem shows no signs of slowing.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.