CandleFocus

XRP Market Cap Risks Falling Behind DOGE Despite 5% Increase

Author: Content Editor
Ripple's market cap has increased, but it is at risk of being overtaken by Dogecoin if both cryptocurrencies continue their recent performances. Over the last 24 hours, XRP's price has risen by 5.20% while DOGE has jumped by 22%. DOGE's rapid growth rate could close the gap in market cap between the two cryptocurrencies, depending on whether XRP can sustain or accelerate its gains. XRP's market cap is currently $30.63 billion, making it the seventh most valuable cryptocurrency, while Dogecoin is eighth with a value of $30.26 billion. Both XRP and DOGE have all their total supply in circulation, so their respective prices determine market cap growth. XRP's price increase may be linked to the broader market recovery, while DOGE's growth is influenced by rising market interest and Elon Musk's support. Dogecoin's potential surge could put additional pressure on XRP, causing it to lag behind. Another metric suggesting XRP could fall behind DOGE is the Mean Dollar Invested Age, which is currently rising, suggesting low trading activity. The Bollinger Bands indicator also indicates high volatility for XRP, with the upper band touching the price at $0.54, indicating it is overbought. If XRP's price retraces to $0.51, its market cap may fall behind DOGE. However, a break above the $0.55 resistance could invalidate this forecast.

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