Top Trader Calls Dogecoin Budget XRP — Here’s Why

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As a seasoned crypto investor with a decade of market navigation under my belt, I find DonAlt’s analysis intriguing. While both Dogecoin (DOGE) and XRP have been impressive performers this month, their price trajectories have shown distinct patterns.

Known crypto trader “DonAlt” recently expressed his revised views on the price trends of two highly anticipated altcoins currently in the spotlight – Dogecoin (DOGE) and Ripple‘s XRP.

As a researcher, I’ve been tracking the performance of two prominent cryptocurrencies, and here’s an interesting find: Over the past month, each of these digital assets has surged by more than 140%. Remarkably, they hold tens of billions of dollars in assets, yet they continue to outshine their counterparts in the altcoin market. Moreover, Bitcoin is consistently breaking its own records and reaching new historic highs almost every day.

Although DOGE and XRP may not mirror each other exactly in terms of price fluctuations, it’s worth noting that over the past two days, XRP has experienced a significant surge of 37%, while DOGE has managed to increase by just 8.8%.

This kind of divergence caught the attention of DonAlt, whose posts recently touched on the issue of Dogecoin and XRP. In his outlook and attached price chart, the trader outlined a possible scenario in which the price of DOGE could follow the pattern shown by XRP over the past two days.

DOGE is the budget version of XRP

— DonAlt (@CryptoDonAlt) November 22, 2024

The trader’s confidence stems from observing the patterns of two assets that have entered a period of accumulation following a significant increase in price. Notably, XRP seems to have surpassed this phase quite impressively over the last two days. Conversely, DOGE’s price remains confined within a narrow band, with multiple unsuccessful attempts at breaking out.

DOGE and/or XRP?

If the trader’s predictions are accurate and the Dogecoin bulls demonstrate their aspirations, it could lead to these digital currencies achieving fresh local peaks together, similar to their performance earlier this month, due to a harmonious movement.

Although they’re both known figures in the cryptocurrency market, there’s no direct link between XRP and DOGE. So, if XRP increases in value or DOGE experiences a downturn, it doesn’t automatically mean one will mirror the other. However, there could be potential for these currencies to overlap at some point, which is an interesting aspect to observe.

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2024-11-22 16:28