Dogecoin moves closer to dethrone XRP

Dogecoin is in the 8th spot and XRP is in the 6th, with USDC in between on the list of top cryptocurrencies. However, the trend is expected to flip their positions soon. DOGE is climbing the value at a time when XRP has either halted or is bagging a dip. Also working well for DOGE is the fact that it has sustained a surge when the crypto market was indecisive about its movement on the chart.

Dogecoin has held gains since March and its market cap has surged significantly. It was around $15 billion when 2024 started. The market cap of DOGE has now pumped up to $28.6 billion. XRP’s market cap was last seen dancing around $33.9 billion. That leaves a rough gap of 15.6% to be bridged. Assuming Dogecoin keeps rising and Ripple refuses to shed bearish resistance, the trend will force them to flip their positions sooner or later.

The token value is inching closer as well. For reference, DOGE has surged by 1.50% in the last 24 hours and is listed at $0.1999. XRP, on the other hand, has dropped by 0.85%, exchanging hands at $0.6115. The best-predicted estimate for DOGE is $12 shortly, with the market still considering how to evaluate the long-term estimate. XRP would rise, but the precise prediction is hard to draw at the moment.

The entry of TON and ADA in the list is likely to modify dynamics. Analysts don’t expect an impact on the DOGE versus XRP trend, but that is one aspect that the community has its eyes on.

TON by Toncoin has slipped by 5.535 in the last 24 hours, and Cardano’s ADA has lost 0.97% in a single day. Their respective token values were $7.06 and $0.5836 at the time of articulating this piece.

Circling back to DOGE versus XRP, some predictions estimate that DOGE can go as high as $100. The community has settled on $12, for it brings more practical sense to predictions. Nevertheless, no one has eliminated the possibility of a rise to $100.

There is a rise in the market cap of DOGE and a drop in the market cap of XRP, even when the article is being written. It remains to be seen how long the trend continues and if DOGE bridges the gap to take the 6th position on the list. DOGE is backed by two factors: community engagement and adoption pace. Both of them are strong for the meme coin.

XRP, meanwhile, is hoping to have its ETF product once the SEC versus Ripple case sees the end of the tunnel. The XRP community is also hopeful that the ETF approval will bring a massive increase in their holdings’ value along with the market cap of the token. The actual impact will only be made public when it happens—that is, when the agency settles with Ripple and approves the XRP ETF.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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