Ripple (XRP) Price Pumping But Dogecoin Remains a Better Bet: DOGE Price Analysis

Ripple (XRP) Price Pumps, but Dogecoin (DOGE) Remains a Strong Contender

Analyst Master Kenobi on X expressed skepticism about Ripple (XRP) despite its recent price surge. Kenobi pointed out that XRP's rise has taken it back to its 2021 peak after a remarkable fourfold increase. This raises questions about its underlying value compared to other cryptocurrencies. The analyst clarified that while he has never been enthusiastic about XRP, he acknowledged the excitement surrounding its current surge.

Why Dogecoin (DOGE) Could Have More Growth Potential

Kenobi suggested a potential connection between XRP's performance and the potential of Dogecoin (DOGE). He speculated that if XRP could achieve such gains, then DOGE, with its established community and historical volatility, could have even more room for growth.

Kenobi noted that DOGE is currently positioned just above half of its previous all-time high, while XRP's market cap is significantly larger. This suggests that DOGE could represent a more attractive investment opportunity at the moment.

Competitive Landscape and Market Trends

The analyst mentioned the competitive landscape, particularly regarding Binance Coin (BNB), hinting at upcoming developments that may impact its standing in the market. He concluded by reminding his followers that his insights are for educational purposes and that it's essential to consider broader economic trends when making investment decisions.

Dogecoin Price Breakout and Bullish Zone

On Sunday, Rekt Capital posted a chart that shows an ascending triangle pattern with a flat resistance at $0.43 and rising support, indicating bullish momentum. The horizontal resistance acts as a key neckline, with recent price action testing but not yet breaking this level.

The rising trendline of higher lows indicates steady buying pressure. Triangle patterns typically show declining volume during formation, with successful breakouts accompanied by volume surges.

A confirmed breakout requires a daily close above $0.43, which occurred previously when the price closed at $0.44. A successful breakout could ignite rallies across the broader memecoin market. The key level to watch is $0.43, which must be successfully tested for the price to continue to spike.

Trader Tardigrade further highlighted DOGE's potential, stating that it has entered a "Green Zone," which typically signifies a strong price pump. He suggested that as this zone narrows with each cycle, the intensity and speed of DOGE's potential price movement may increase.

Analyst Sentiment

Overall, analysts suggest that while Ripple's recent pump has gained attention, Dogecoin's fundamentals and market positioning may make it a more promising investment in the long run.