Most cryptos, BTC and altcoins have all surged as Bitcoin nears to reclaim the $100,000 mark once again. Investors are optimistic about a better regulatory environment under the new crypto friendly President Donald Trump. A lower interest rate climate has also fueled gains in the crypto market.
Bitcoin’s rise has boosted other cryptocurrencies. Dogecoin and XRP have outperformed Bitcoin since Election Day. Both tokens have gained strong momentum as investors look for the next big opportunity.
Dogecoin was created in 2013 as a joke by Billy Markus and Jackson Palmer. Since that time, the meme coin has gained much mainstream popularity. Celebrities like Elon Musk and Mark Cuban have supported DOGE hugely, boosting its visibility by a very huge margin.
Dogecoin has no fixed supply, a factor that raises concerns about inflation. However, its strong community and viral appeal have helped it reach a $59 billion market cap. Musk’s influence on social media often triggers price movements for Dogecoin.
XRP was designed for cross-border payments. The token processes transactions in seconds and is energy-efficient. Ripple, the company behind XRP, pre-mined 100 billion tokens. Unlike Dogecoin, XRP has a fixed supply, which may help control inflation.
XRP could also see increased adoption if a spot exchange-traded fund (ETF) is approved. Companies have already started the ETF process. The token recently became available on Robinhood, increasing accessibility.
XRP has faced legal challenges from the SEC. The agency sued Ripple and its executives for selling XRP as an unregistered security. A federal judge ruled in Ripple’s favor, but the SEC appealed parts of the decision.
With SEC Chair Gary Gensler leaving the seat and a crypto-friendly chair taking the position, the lawsuit could conclude soon. A favorable outcome that may remove barriers to XRP’s growth.
Both Dogecoin and XRP have strong potential in a bull market. Market trends, recent market developments, investor interest and regulatory decisions will help shape XRP's future performance.