Ripple Meme Tokens Compete with Solana
After XRP surged above $2.60, a new race began to create meme tokens on the Ripple protocol. The creation of new tokens on the platform takes only a few weeks, showcasing the high speed of their launch alongside potential liquidity.
Features and Development of Meme Tokens on XRPL
The creation of meme tokens is inspired by the concept of the Pump.fun platform but is focused on the XRP community. All new assets operate on XRPL, known for its dedicated holder base.
These users, motivated by recent trends, actively support not only older memes launched earlier but also new projects. The main platform for their listing is First Ledger, where new tokens appear daily. Additionally, popular exchanges like OKX and WhiteBit have started exploring opportunities to list promising meme tokens, offering more visibility and accessibility for these experimental assets.
High Risk and Low Liquidity of XRPL Memes
Despite their popularity, tokens on XRPL remain highly volatile. Long-term XRP holders use their tokens as "play money," hoping for the success of memes. However, even the most liquid assets on XRPL trade at significantly lower prices and liquidity compared to memes on Ethereum or Solana.
Sharp price drops of 80% are a common occurrence for such experimental assets. Nevertheless, a month after the initial hype, XRPL meme tokens were added to the listing. With exchanges like OKX and WhiteBit showing interest, the future of XRPL meme tokens might gain more stability, though the risks remain significant.
