
XRP Price Hits $3 as Meme Coins Drive Ledger Surge
The cryptocurrency’s price climbed 15% in just 24 hours, peaking at $2.99 and slightly stabilizing at $2.95. This bullish run has reignited excitement within the crypto community.
Fueling the rally is the resurgence of meme coins on the XRP Ledger. Notable tokens like ARMY saw a 30% increase in value, boosting its market cap to $107 million. Other meme coins, including PHNIX and LIHUA, recorded $1 million in daily trading volumes, with market caps rising to $45.6 million and $35.4 million, respectively.
What’s Behind the XRP Price Surge?
Several factors have contributed to XRP’s impressive price increase:
- Speculation Around ETFs: Analysts predict the potential approval of XRP-based exchange-traded funds (ETFs) could bring billions of dollars into the market.
- Reduced Network Costs: In December 2024, validators slashed the reserve price required to maintain accounts on the XRP Ledger by 90%, making it more accessible.
- Meme Coin Activity: The rising popularity of tokens like ARMY reflects increased investor confidence and a thriving XRP ecosystem.
Ledger Growth and Community Optimism
The XRP Ledger has seen significant activity, with decentralized applications (DApps) and unique active wallets spiking in usage. This growth aligns with the increasing adoption of meme coins and the broader interest in the ledger’s potential.
Other tokens, such as Sologenic (SOLO), have also benefited from the bullish momentum. SOLO gained 7% in a day and 25% over the past week, with its market cap increasing by over 200% since November.
Legal Challenges and Investor Resilience
Despite ongoing legal battles with the U.S. Securities and Exchange Commission (SEC), XRP has shown remarkable resilience. Investors are confident in the token’s long-term prospects, focusing on its ecosystem growth and potential regulatory clarity in the future.
What’s Next for XRP?
With XRP price nearing its all-time high of $3.40, the cryptocurrency is positioned for continued growth. The combination of reduced network costs, thriving meme coin activity, and the anticipated approval of ETFs is setting a positive trajectory for XRP in 2025.
As the third-largest cryptocurrency by market cap, XRP remains a focal point for investors and enthusiasts looking to capitalize on its upward momentum.
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