Ripple (XRP) jumps 10%, but Dogecoin (DOGE) turns it around

The entire cryptocurrency market is in the green today, but some are doing better than others. Ripple’s native token, for example, has seen a remarkable daily increase of 10% and is above $0.6.

However, it has lost its position as the seventh largest cryptocurrency by market capitalization to Dogecoin, which has risen to another multi-year high.

The last 24 hours have only consolidated the general bullish trend that started after Donald Trump’s victory in the 2024 US presidential election. In addition, it has mostly been about altcoins, such as ADA and DOGE, all and that BTC managed to chart a new peak earlier.

The rise in the price of Dogecoin has been particularly impressive. The meme coin is up 19% in the last day and has surpassed $0.24 for the first time since late 2021. In the last 30 days, the price of DOGE has soared more than 120%.

With its current market cap of nearly $36 billion, Dogecoin has now become the seventh largest cryptocurrency overtaking XRP. This comes despite Ripple’s remarkable performance over the past day, pushing it above $0.6 for the first time in weeks.

Numerous popular crypto analysts have speculated about an upcoming supercycle of meme coins, which could drive even more impressive gains for the niche. SHIB, for example, is another massive gainer today, up 25% and trading above $0.000024.

We are very close to being at the last chance to add zone in crypto. The next step should be for the memes to come out and then there’s nothing to do but wait to get lifestyle chips off the table.

here it is $DOGE leading the break… 1/ pic.twitter.com/rEztxyqTRr

— Raoul Pal (@RaoulGMI) November 10, 2024

XRP’s performance could be further affected by a possible resolution in the ongoing legal case between Ripple and the SEC. Recall that Trump promised to fire SEC Chairman Gary Gensler on Day 1, which could lead to a quicker conclusion.

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