- XRP has surged 92% in the past week, with meme coins on the XRPL network seeing even larger gains
- Tokens like ARMY, BEAR, and MAG have experienced significant market cap increases, attracting attention from traders in other ecosystems like Solana and Ethereum
- Meme coins on the XRPL network are going wild, experiencing substantial price rallies
XRP, the native cryptocurrency of the XRP Ledger, has seen a significant price surge in the past week. Additionally, meme coins built on the XRP Ledger such as ARMY, BEAR, and MAG have experienced even larger gains in market capitalization and trading volume. This price action has attracted the attention of traders in other crypto ecosystems like Solana and Ethereum.
XRP Price Action
XRP has surged 92% in the past week to reach $0.274, its highest price since January 2018. This represents more than a fivefold increase in the last 30 days.
XRP had been trading sideways below $0.10 for most of 2022 until a breakout rally in mid-November. The price of XRP has continued running to new highs throughout late November.
Meme Coins on XRPL
Meme coins launched on the XRP Ledger have seen parabolic gains exceeding XRP’s impressive price action.
Tokens like ARMY, BEAR, and MAG have experienced significant market cap increases over the past week. These large moves have attracted attention and investment from traders in other crypto ecosystems.
For example, BEAR token has increased over 1000% in the last 7 days. These meme coin rallies mimic similar explosive rallies by meme coins in ecosystems like Solana earlier in 2022.
Trader Interest Across Ecosystems
The explosive gains in XRP and XRPL-based meme coins have sparked interest from traders in other crypto ecosystems outside of XRPL.
Money has flowed in from traders in crypto communities like Solana and Ethereum seeking to participate in the strong upside price momentum. This cross-pollination of interest helps drive further gains.
Conclusion
The past week has seen XRP stage an impressive breakout rally to a multi-month high. Meme coins on the XRP Ledger have surged even more, delivering four-digit percentage returns over the last 7 days.
This combination of a major altcoin rally and parabolic meme coin gains has attracted the attention of traders in leading crypto ecosystems like Solana and Ethereum. Cross-ecosystem interest can further propel price rises, indicating the rally in XRP and friends may have room to run.
