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XRP vs. Dogecoin: Who Tops Market?

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Sat, 15/06/2024 - 10:54
XRP vs. Dogecoin: Who Tops Market?
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Recently, the spotlight has turned to two major cryptocurrencies: XRP and Dogecoin (DOGE), as they vie for positions in the market capitalization rankings.

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According to CoinMarketCap data, XRP currently holds the seventh spot in the market ranking, boasting a market capitalization of $26.62 billion. This digital asset runs on the XRP Ledger — an open-source public decentralized layer-1 blockchain that has hosted over 1,000 projects, processed over 2.8 billion transactions since 2012 and supports over five million active wallets via a network of over 120 validators.

Hot on its heels is the dog-themed cryptocurrency and the first parody coin, Dogecoin, which has carved out its niche in the crypto community. Dogecoin takes eighth place in the crypto rankings, with a market capitalization of $19.77 billion. Initially created as a joke, Dogecoin has become a serious contender on the crypto market.

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Crypto Market Rankings, Courtesy: CoinMarketCap

Currently, the difference in the market capitalizations of both cryptocurrencies is over $7 billion, which remains significant. Given current market conditions, it might take a significant move for Dogecoin to be able to successfully upturn XRP and rank as the seventh largest cryptocurrency.

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As the scenario unfolds, price movements of XRP and Dogecoin will be closely watched. Will Dogecoin overtake XRP, or will XRP maintain its lead in the crypto market rankings? Only time will tell, but one thing is certain: the race is on, and the crypto community is here for it.

Surprises are common on the crypto market, and the rankings of XRP and Dogecoin could shift rapidly based on market sentiment, regulatory news, technological advancements and macroeconomic factors. The market is keeping a close watch on these developments to gauge the price trajectories of these digital assets.

XRP and Dogecoin are currently trading lower as cryptocurrencies fall approaching the weekend, with Bitcoin continuing its recent plunge. At the time of writing, DOGE had fallen 4.14% in the previous 24 hours to $0.136. However, XRP rose 0.02% in the last 24 hours to $0.479.

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