- XRP meme coin market expands following launch of multiple token platforms
- ARMY leads with $85.5M market cap and 11,657 holders
- Community figures highlight opportunities while urging caution
As XRP reclaims the $3 mark for the first time since 2018, a fascinating development is unfolding within its ecosystem. The emergence of meme coins on the XRP Ledger (XRPL) represents a significant shift in the platform’s utility and market dynamics, driven by the launch of key infrastructure platforms like Memepad and First Ledger.
Understanding the XRP Meme Phenomenon
The explosive growth in XRP meme coins traces back to October 2024, when Magnetic X introduced Memepad, revolutionizing token issuance on the platform. This momentum accelerated with First Ledger’s launch, leading to unprecedented daily token issuance rates. The ecosystem now features several established players, with ARMY commanding an $85.5 million market cap and PHINX following at $39.3 million.
Notable community figures like Polly and Crypto Bitlord have identified specific tokens showing promise, including ARMY, JELLY, RipTard, PHINX, and PONGO. These recommendations come with important caveats about risk management, as emphasized by Alpha Lions Academy founder Edoardo Farina, who warns of potential rapid value deterioration in newer tokens.
The market structure continues to evolve, with First Ledger data showing impressive metrics across leading tokens. ARMY’s 11,657 holders and 47.9 million XRP trading volume demonstrate significant market participation, while newer entrants like LIHUA and SLT, valued at $23.5 million and $20.9 million respectively, indicate growing ecosystem diversity.
This development phase requires careful navigation between opportunity and risk, as the community balances enthusiasm for new projects with necessary caution about potential pitfalls in the rapidly expanding meme coin sector.
