As XRP Ledger Meme Coins Surge Once More, XRP Hits 7-Year High Price

As trading volumes and meme coin prices on the XRP Ledger both rise, XRP is up 15 % in the last 24 hours, reaching a price never before seen since 2018. &nbsp,

Ripple-linked XRP has significantly outperformed other major crypto assets in the last week, rising by 28 % in that time and becoming the third-largest cryptocurrency overall ranked by market cap. It rose as high as$ 2.99, a seven-year high for the coin, though it has since dipped to$ 2.95.

The decision comes as investors become more confident that XRP ETFs will be approved, which was, according to experts, bring in “billions” of dollars in investment.

Meme coins on the XRP Ledger have increased even more, most recently ARMY, which has soared to a new all-time high market cap of$ 107 million on a nearly 30 % increase in the last 24 hours. The key makes reference to the “XRP Army,” a nod to ardent supporters of the XRP gift. &nbsp,

Two other meme coins—PHNIX and LIHUA—have garnered nearly$ 1 million in secondary trading volumes during the last 24 hours as they climbed to$ 45.6 million and$ 35.4 million market caps, respectively.

The XRP Ledger’s move to the image coin continues a trend that exploded in first December when the system set new record-breaking account activity and purchases.

Most image cash, however, completely lost all of their gains after that first flurry. For example, leader ARMY fell from a$ 100 million market cap on December 1 to$ 20 million just days later. &nbsp,

Meme coins have picked up again though as XRP has charged higher, with the coin peaking just 12 % off its all-time high price of$ 3.40 according to CoinGecko.

Around the time of the first meme coin spike, when validators agreed to reduce the reserve price or the cost of maintaining an account on the ledger by 90 %, the XRP Ledger became less expensive to use. &nbsp,

Meme coins, or tokens that are commonly associated with internet memes and popular culture, have exploded across blockchains this year, thanks in large part to the development of pump-style token launchpads. excitement. They tend to be very dangerous, however, and are just as likely to collapse as they are to provide skyrocketing gains.