XRP It has risen 15% in the past 24 hours, reaching a price not maintained since 2018, as trading volumes and cryptocurrency prices surged on the XRP Ledger.

Ripple-linked XRP significantly outperformed other major crypto assets last week, rising 28% in that time and rising to third place in overall cryptocurrency by market cap. It rose to $2.99, the highest level for the coin in seven years, although it has since fallen to $2.95.

This step comes in the middle High optimism About the approval of XRP ETFs, which can be withdrawn en masse "Billions" Dollars in investment according to analysts.

Meme cryptocurrencies on the The symbol stands for “XRP Army,” in reference to Enthusiastic supporters From XRP token.

Two other meme coins – PHNIX and LIHUA – received nearly $1 million in secondary trading volumes over the past 24 hours as their market capitalization rose to $45.6 million and $35.4 million, respectively.

The meme coin is moving on the XRP Ledger to extend a trend that exploded in early December when The network broke records To activate the account and transactions.

After this initial rally, most cryptocurrencies have fully recovered their gains. For example, the ARMY leader's market cap dropped from $100 million on December 1 to $20 million just days later.

Meme coins have risen again despite the rise in the price of XRP, with the coin peaking just 12% off its all-time high price of $3.40 according to CoinGecko.

XRP ledger It became cheaper To use it in early December around the time of the first meme coin spike, when auditors agreed to reduce the reserve price – or the price required to maintain an account on the ledger – by 90%.

Meme coins, or tokens typically associated with popular culture and internet memes, have exploded this year via blockchains, fueled in part by the creation of token launch platforms such as pump. fun. However, they tend to be highly volatile, and are just as likely to crash as they are to make huge gains.

Modified by Andrew Hayward