Amid Impressive XRP Price Performance, Market Commentators Identify the Growing XRP Meme Coin Market as a Gold Mine

For context, XRP recently reclaimed the $3 mark for the first time since 2018, triggering a renewal of interest from the broader crypto community.

XRP price performance has been impressive lately, and market commentators are identifying a gold mine in the growing XRP meme coin market.

For instance, XRP recently breached the $3 mark for the first time since 2018, sparking a renewed interest from the broader crypto community. As investors turn their attention to XRP, a growing trend within its ecosystem has gone unnoticed: the rise of meme coins on the XRP Ledger (XRPL).

Interestingly, the XRPL meme coin market began gaining traction after the launch of Memepad, a token issuance platform by Magnetic X, in October 2024. However, the momentum soared with the introduction of First Ledger, another launchpad that led to a record number of daily token issuances on the XRPL by late October.

Several prominent XRP community figures have called attention to this trend, noting the potential of meme coins. For example, Polly, a prominent trader, suggested that investors who want to capitalize on the ecosystem's growth should own XRP meme coins.

“You are Not Locked in”

Moreover, Polly's statement implies that investors who overlook XRPL meme coins in their portfolios are not truly “locked in,” a term popular in the community that refers to staying focused on the right opportunities to achieve maximum returns.

If you don't have any $XRP memecoins in your portfolio rn.

You're not locked in

Interestingly, other XRP community figures hold a similar outlook. For instance, Crypto Bitlord, a notable commentator, highlighted several top-performing meme coins on the XRPL. He identified ARMY, JELLY, RipTard, PHINX and PONGO as standout tokens with active communities and strong performance.

Bitlord's statement suggests that these coins range from blue-chip investments to speculative ones. However, he warns of risks associated with some meme coins, including team-led sell-offs and rug pulls.

Meanwhile, crypto investor Juke singled out RIBBLE as a promising token, noting its market cap growth from $250,000 to $800,000. Juke's statement highlights frog-themed tokens' historical performance, suggesting that RIBBLE has the potential to lead during the next wave of volume spikes.

I posted about $RIBBLE at $250k mc, now at $800k.

I see this as a leading meme on $XRP when volume inflows begin to spike. Frog memes have historically done well, and the ticker ribble is literally ripple with the p’s upside down and a frog noise.

The writing is on the wall pic.twitter.com/LCuTlTKEWx

Despite the enthusiasm, some in the community have advised caution. For example, Edoardo Farina, founder of Alpha Lions Academy, reminded investors of the high risks involved with new meme coins.

Farina's statement urges traders to stick with well-established meme coins such as DROP, PHNIX, ARMY, BERT, and SIGMA to minimize the chances of losing over 90% of an investment within minutes.

Be careful everyone new Meme coins can rug over 90% in just minutes

You have better chances to stick with the OG ones:

– $DROP

– $PHNIX

– $ARMY

– $BERT

– $SIGMA

(…) pic.twitter.com/o6nG85uwB9

Top XRP Meme Coins on First Ledger

Notably, the surge in meme coin launches has led to notable achievements on the XRPL. For instance, data from First Ledger reveals ARMY as the largest meme coin by market capitalization, valued at $85.5 million, with 11,657 holders and a total trading volume of 47.9 million XRP.

Furthermore, PHINX follows as the second largest, boasting a market cap of $39.3 million, 13,914 holders, and a trading volume of 40.2 million XRP. Other leading tokens include LIHUA, valued at $23.5 million, SLT at $20.9 million, and DROP at $15.6 million.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.