Ripple Meme Coins Gain Traction: $ARMY, $SCRAP, $589 Lead the Surge

Meme coins on the Ripple network are gaining significant traction, sparking interest and speculation. Projects like RIPPLES, the first mobile game built on the XRPL, are leading the way. Top Ripple-based meme coins like $ARMY, $SCRAP, and $589 are attracting investor attention and building strong communities.

This meme coin surge coincides with increased liquidity in XRP perpetual futures (perps), particularly between long and short positions. With active speculation around XRP’s price, experts suggest a “launchpad” effect that could lead to rapid price action.

HOLY SHIT!! THERE’S SO MUCH LIQUIDITY BUILDING UP ON XRP PERPS

AT $1.00 THERE’S $38 BILLION DOLLARS IN LONGS

BUT

THERE’S A TOTAL OF 338 BILLION SHORTS FROM $1.10-$1.19….

THIS LOOKS LIKE A LAUNCHPAD 😭😭

EITHER ALOT OF RETAIL ARE SHORTING

OR INSTITUTIONS ARE READY 😮‍💨😭 https://t.co/0Nnq0mVdWc pic.twitter.com/Ja7z7M0pPs

— SIRTRADESALOT (@COOLBREEZE_____) November 17, 2024

Ripple’s Focus on Real-World Applications

The Ripple network is focusing on real-world applications and user experience. RIPPLES, a highly anticipated mobile game, aims to introduce the Ripple network to a wider audience. This aligns with Ripple’s strategy of targeting mainstream adoption.

The rise of Ripple meme coins like $ARMY, which represents the “XRP Army” community, $SCRAP (inspired by an XRP developer’s dog), and $589 (referencing the community’s belief in XRP’s price potential) showcases the network’s support for grassroots projects.

Read also: Ripple CTO Blasts Chokepoint 2.0: ‘A Despicable Evil’ in Crypto Banking

Ripple’s DeFi and EVM Infrastructure: Room for Growth

With the meme coin hype strong, industry observers remain cautious about Ripple’s broader adoption and infrastructure. Ripple’s DeFi and EVM-compatible offerings, such as its decentralized exchanges and smart contract capabilities, offer promising functionality. However, these projects lag behind Ethereum and Solana in adoption and liquidity.

Nevertheless, both the liquidity dynamics and meme coin trends reflect growing interest in the Ripple ecosystem. They highlight Ripple’s expanding role in facilitating speculative trading and grassroots adoption, which could boost network and market momentum. The challenge is to build on its technical foundation and drive mainstream adoption beyond meme coins.

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