As enthusiasts eagerly await the next XRP upsurge, some have identified an additional bullish factor in the trend of meme coins on the XRP network.
Crypto pundit Billy Mays recently tweeted his excitement about the future potential of XRP, highlighting an often-overlooked aspect of the XRP Ledger (XRPL) — the growing use of memes.
Mays suggests that this playful use of the network is just one more reason why XRP is poised for significant growth.
According to Mays, XRP’s purpose extends beyond just cryptocurrency transactions. He believes the innovative technology behind XRP is on track to change the way people transact on a day-to-day basis.
With its fast, efficient, and scalable features, the XRP Ledger has the potential to reshape global financial systems.
Mays went on to emphasize that the teams behind XRP are developing something with the power to revolutionize the world of digital payments. His excitement points to a future where XRP plays a major role in everyday financial interactions.
Meme Coins on the XRP Ledger
Notably, meme coins have been one of the channels driving adoption for crypto projects in recent times, and the XRPL is quickly capitalizing on the trend. This momentum began picking up in the last quarter of 2024. It followed the introduction of various launchpads, contributing to the proliferation of XRPL meme coins.
The development attracted the attention of Ripple CTO David Schwartz, who remarked that he liked the meme coin trend on the XRPL.
Notably, leading XRPL DEXes First Ledger and Magnetic X have been at the forefront in helping meme coins flourish on the XRP network. Each of the top 20 tokens on First Ledger now boasts a market cap above $1 million.
Currently, the largest token on First Ledger, XRPM, has a market cap of $42 million with 1,132 holders.
The second-largest contender, “ARMY,” boasts a valuation of $27.1 million, with a larger pool of holders, totaling 12,407 token holders. The most widely adopted token on First Ledger is VGB, with 43,539 holders and a market cap of $1.32 million.
Top XRP meme coins on First Ledger
New Update Making Meme Coin Launching Safer for Users
Last week, First Ledger updated its token allocation method for new tokens on the XRPL. Now, token allocations are tied to the amount of XRP creators burn during the launch event.
The more XRP burned, the larger the token allocation, with tiers based on the burn amount. For instance, those who incinerate 1,000 XRP or more can claim between 0% to 30%.
Notably, this change looks to encourage honest participation and reduces the risk of rug pulls by ensuring developers have “skin in the game.” The update has received praise from community members. However, some have remained skeptical.
Read the full article here
