Bullish Continues: This XRP Memecoin Is Exploding

Bittime - Memecoins on the XRP network stole the attention of investors with significant price increases. Meanwhile, the XRP coin is currently skyrocketing to reach its highest level in the last seven years, recording an increase of more than 91.8% in just the last week. 

This increase in the price of XRP also triggered a sharp spike in several memecoins in the XRP Ledger (XRPL) ecosystem, which also recorded a very significant percentage increase.

Memecoins on the XRP Network Skyrocket

One of the memecoins that stole the show is ARMY, which refers to a community of XRP enthusiasts called the "XRP Army". The ARMY memecoin, which is still 18 months old, shot from a market capitalization of less than $1 million (around IDR 15 million) on November 26, to more than $90 million (around IDR 1.4 billion) last Sunday. 

Even though currently ARMY has decreased slightly to around $47 million (around Rp. 747.3 million), this extraordinary increase has resulted in many traders making huge profits, including one trader who made more than $100,000 (around Rp. 1.5 billion) with an investment of only $478 ( around IDR 7.6 million) a few weeks ago.

Read also: What is XRP Coin: Definition, History, and Differences from Ripple

Other memecoins like BEAR And MAG also skyrocketed, each recording a market capitalization of almost $30 million (around IDR 477 million). 

This increase increasingly attracted the attention of crypto users on other blockchains, such as Solana and Ethereum, who then shared tutorials and tools to help people start transactions on the XRP Ledger, including Telegram-based trading bots and the Xaman XRP wallet.

How to Buy Memecoin in XRP

For those of you who are interested in participating in the booming XRP memecoin phenomenon, here are the steps for buying Memecoin on the XRP network via the platform First Ledger on Telegram:

Step 1: Access First Ledger

First, open the Telegram application and search for bots First Ledger. Click "Start" to start the transaction process. You will be taken to a user interface that allows easy navigation, with options such as “Wallet Management”, “Positions", And "Settings”.

Step 2: Create an XRP Wallet

Click “Open Wallet” on the First Ledger interface and create a name and password for your XRP wallet. Make sure you note down the recovery phrase to secure access to your wallet in the future.

Step 3: Fill Your Wallet

After creating a wallet, select the menu “Receive” to receive XRP into your wallet. You need to send at least 10 XRP to get started. If you don't have XRP yet, you can buy it through a centralized exchange like Coinbase. You can also use services like SimpleSwap to transfer other cryptos to your XRP wallet.

Step 4: Buy Memecoin in XRP

Go to the First Ledger website, select the memecoin token you want to buy, and copy the URL. Paste the URL into the First Ledger Telegram bot to open the purchase menu. Specify the amount you want to buy, and the bot will confirm your transaction.

Step 5: Sell Memecoins

If you want to sell Memecoin, simply select “Positions” from the First Ledger menu, click on the number of tokens you want to sell, and determine the amount. The bot will confirm your selling transaction.

Read also: 5 Main Causes of the Increase in XRP Prices that are Currently in the Spotlight

Conclusion

Price Memecoin XRP and the memecoin phenomenon on the XRP Ledger network shows very attractive profit potential, although there are some concerns about the durability of this emerging market. 

The incredible price increases in tokens like ARMY, BEAR, and MAG show that brave early traders have made huge profits, although risks remain. 

With a relatively easy way to buy and sell memecoins through platforms like First Ledger, the opportunity to profit from the XRP ecosystem is increasingly wide open. However, as with all crypto investments, always make sure to do your research first and understand the risks involved.

Read also: 5 Best Cryptos to Invest Before 2025

FAQ About XRP

Does XRP have a future?

Many investors are optimistic about the long-term future of Ripple and its partnerships. In November 2024, the price of XRP rose by 364%. This rise helped XRP reclaim its position as the third-largest cryptocurrency by market capitalization.

What will XRP be worth in 2025?

Ripple Price Predictions Suggest XRP Could Surge To $8 by 2025. Despite fluctuations over the years, Ripple's XRP continues to position itself as one of the leading coins on the market, supported by the latest projections.

Can XRP reach $20?

Additionally, crypto analyst CrediBULL Crypto has predicted that the price of XRP could reach $20 in this market cycle. He explained that surpassing the $2 resistance level on the XRP/BTC chart could trigger a parabolic rally and increase the price of XRP to $20. 

How to Buy Crypto on Bittime

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Start with registration and identity verification, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!

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Also, visit the Bittime Blog for interesting updates and educational information about the crypto world. Find reliable articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your crypto knowledge.

Reference: 

Decrypt, article Decrypt, accessed December 3, 2024.

Medium, Satoshi Memeoto's Medium account, accessed December 3, 2024

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