XRP hit a seven-year high on Jan. 15, 2025, touching nearly $3 as the XRP Ledger experienced a surge in activity, driven by meme coins. The price of XRP rose by 15% in just 24 hours, peaking at $2.99, although it slightly dipped to $2.95. This growth follows a trend of increased trading volumes and heightened interest in XRP-related tokens.
The rally in XRP coincided with a resurgence of meme coins on the XRP Ledger. ARMY, a token tied to the XRP community, saw a 30% increase, reaching a market cap of $107 million. Other meme coins like PHNIX and LIHUA also posted gains, recording $1 million in secondary trading volumes within a day. PHNIX’s market cap reached $45.6 million, while LIHUA’s climbed to $35.4 million. These developments come after a significant surge in December when the XRP Ledger hit record numbers for account activations and transactions. Though many meme coins retraced their gains after that, the renewed interest in tokens like ARMY reflects growing optimism in the XRP ecosystem.
XRP’s recent rally is also linked to the potential approval of XRP exchange-traded funds (ETFs), which could bring billions of dollars into the market, analysts say. XRP’s price is now just 12% away from its all-time high of $3.40, and it has gained 28% in the past week, now sitting as the third-largest cryptocurrency by market cap.
The XRP Ledger became cheaper to use in December after validators reduced the reserve price required to maintain an account by 90%. This made the network more accessible, encouraging greater participation. The increase in meme coin activity coincided with a spike in decentralized application (DApp) usage and unique active wallets, indicating heightened network activity.
Sologenic (SOLO), another major token on the XRP Ledger, also benefited from the bullish sentiment, gaining 7% in a single day and over 25% in a week. Since November, SOLO’s market cap has grown by over 200%, tracking XRP’s rise.
Despite ongoing legal challenges from the U.S. Securities and Exchange Commission (SEC), which has refused to postpone its appeal regarding the Ripple lawsuit, XRP has remained resilient. Investors remain confident, and the price of XRP continues to climb. The potential for XRP ETFs to attract substantial investment further supports the bullish outlook for XRP and its ecosystem in the coming months.
XRP’s price surge, combined with the growth of meme coins on the XRP Ledger, highlights a renewed interest in the XRP ecosystem, bolstered by favorable developments like the reduction in network costs and the potential approval of XRP ETFs.
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