XRP and Dogecoin have experienced a slump due to crypto market consolidation over the past week. Despite the recent stability, these two top-10 digital assets show signs of potential gains this October. Both coins have displayed slight bullish activity, hinting at the possibility of a price surge as market sentiment could shift favorably.
A Closer Look at XRP Vs. Dogecoin
XRP and Dogecoin, though vastly different in purpose and origin, have both made significant waves in the crypto market. The XRP Ledger is a decentralized, open-source network known for its low transaction costs, speed, and energy efficiency.
With capabilities like a built-in decentralized exchange (DEX) and custom tokenization, the XRP Ledger has maintained reliability through 70 million closed ledgers.
On the other hand, Dogecoin started as a meme-based cryptocurrency in 2013, gaining popularity primarily through social media mentions, especially from Elon Musk. While XRP focuses on utility in transactions, Dogecoin has carved its niche through its community and viral appeal.
In 2021, Dogecoin experienced a meteoric rise, surging to an all-time high of $0.7376 after a massive bullish trend. According to Coinmarketcap data, this year, it has seen a resurgence, climbing over 50% to a peak of $0.22 in April. XRP, meanwhile, saw a major boost in 2021, hitting $1.55 during the crypto market rally.
It later surged above $0.70 following the favorable outcome of its legal battle with the SEC. However, after the SEC’s appeal, XRP experienced a significant downturn, showing the volatility that both cryptocurrencies are known for.
Ripple vs. Dogecoin Weekly performance
Dogecoin and XRP performed divergently over the past week amid a broader market correction. Dogecoin defied the downward trend, climbing 5% and holding above a key support level.
This resilience signals strong investor interest, making DOGE one of the few cryptocurrencies to show growth despite market turbulence. At the time of writing, the DOGE price is trading at $0.1092, with a 2% surge.
In contrast, Ripple saw a 10% dip, dropping its price from $0.58 to around $0.52. The correction hit XRP harder, raising concerns about its ability to recover in the near term. With Dogecoin’s recent gains and XRP’s struggles, DOGE may be positioned to outpace Ripple in October if the trend continues. Currently, the XRP price is at $0.5288, with a slight bearish.
Ripple vs. Dogecoin 3-Month Performance
Over the past three months, Dogecoin has shown stronger performance than Ripple’s XRP. Dogecoin’s price has fluctuated between $0.48 and $0.61, maintaining a relatively stable range. The coin also experienced an 11% rise in the past month, signaling potential momentum.
Meanwhile, the XRP faced a 0.35% decline over the same month. The token struggled to gain upward traction, which suggests it may need to catch up with Dogecoin in terms of short-term growth potential.
XRP vs. Dogecoin Price Performance Final Decision
Dogecoin has seen its price bolstered by a surge in meme coin interest, whale transactions, and rallies in leading cryptocurrencies. When examining consistent performance, DOGE appears to hold the advantage. Its status as a popular meme coin positions it well for potential explosive growth, appealing to investors seeking rapid gains.
Investors should not ignore XRP, as it holds significant potential for a rally amid ongoing developments in the Ripple vs. SEC lawsuit and the SEC’s appeal. These legal proceedings could serve as powerful catalysts, potentially driving a substantial price surge for XRP in the near future.
Frequently Asked Questions (FAQs)
XRP is a utility-focused cryptocurrency designed for fast and low-cost cross-border transactions on the XRP Ledger, while Dogecoin started as a meme-based cryptocurrency with a strong community and viral appeal.
Over the past week, Dogecoin defied the market’s downward trend, climbing by 5%, whereas XRP experienced a 10% dip. This suggests Dogecoin may have stronger short-term momentum.
XRP’s price could surge due to developments in the Ripple vs. SEC lawsuit and the SEC’s ongoing appeal, which might shift market sentiment in favor of the coin.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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