Ripple (XRP) Jumps by 10% But Dogecoin (DOGE) Flips It

Ripple's native token, XRP, has surged by 10% today, reaching over $0.6, while the entire cryptocurrency market shows positive movement. However, XRP has lost its spot as the 7th-largest cryptocurrency by market cap to Dogecoin (DOGE), which has climbed to a multi-year high.

Market Trends and Dogecoin's Rise

The past 24 hours have reinforced a bullish trend initiated by Donald Trump's recent victory in the 2024 US presidential elections. While Bitcoin has also reached new heights, altcoins like ADA and DOGE have been the primary focus. Dogecoin's impressive performance includes a 19% increase in the last day, pushing its price above $0.24 for the first time since late 2021. Over the past month, DOGE has skyrocketed by over 120%.

With a market cap nearing $36 billion, Dogecoin has overtaken XRP, despite Ripple's significant gains today. Analysts are speculating about a potential meme coin supercycle, which could lead to even more substantial increases in this niche. For instance, SHIB has also seen a notable rise, increasing by 25%.

"We are very close to being in the Last Chance to Add Zone in crypto. The next step should be the memes breaking out, and after that, there is nothing to do but wait to take lifestyle chips off the table."

XRP's future performance may hinge on the outcome of the ongoing legal case between Ripple and the SEC. Trump's promise to fire SEC Chair Gary Gensler on his first day could expedite a resolution.