What Do XRP And Dogecoin Have In Common?
It sounds like a bad christmas cracker joke (which we are allowed to mention since itâs now October) but what to XRP and Dogecoin have in common? Of course, one is based upon a meme and the other is a very serious blockchain solution designed for the facilitation of financial transactions (but which is which?) however, the pair do have something very interesting in common, they are leading the markets in a very special way.
XRP has made some incredible progression over the past few weeks. With the recent xRapid launch announcement, the value of XRP has spiked significantly. Of course, itâs way off itâs target of $3.00, however good progression has been made, progression that is looking to continue. At the time of writing, XRP is valued at $0.57, down 5.48% but still making great progress from this time a few weeks ago. As XRP nears $1.00, investors should start to get excited.
Likewise, Dogecoin has seen some very interesting developments. Now in Coinmarketcapâs top 20 (ranked 20th), Dogecoin is seeing a huge surge in its market cap, with that, itâs value is on a climb too. By moving into the top 20 cryptocurrencies, Dogecoin is starting to be seen as a very serious investment once again. At the time of writing, Dogecoin is valued at $0.0059, up 0.81% with a very large market cap, which currently sits at $691,304,808.00.
Why are XRP and Dogecoin market leaders?
According to Blokt:
âXRP has made an impressive 119% gain over the last two weeks, even spiking to a 195% gain briefly on September 21st. Similarly, DOGE is currently up more than 130% since the end of August, while briefly spiking to a 180% gain on September 1st. XRP and DOGE are showing the characteristics of market leaders. They both have displayed great relative strength â even bullish behavior â during this bearish/quiet period of the market. Both are well-established cryptocurrencies with real-world uses, enthusiastic followers and market caps among the top 20.â
The paid have made incredible progression through August and September, as a result of this, they have made significant gains and their market capitalisation has benefitted massively. At one point XRP even briefly surpassed Ethereum. These currencies have managed to hold their own in a very tight bear markets, so, whilst generally values have declined, XRP and Dogecoin have been able to grow, organically, simply as a result of their own respective communities and as a result of the hard work of their respective teams and developers.
Oh, and to answer my question from early one, Dogecoin is the meme one, with XRP being the more serious of the two.