Dogecoin Overtakes XRP after Price Surge

Dogecoin (DOGE), the canine-themed cryptocurrency, has outpaced XRP in market capitalization due to a substantial price increase this past week.

Market Performance

Per CoinMarketCap, DOGE has climbed 9% over the last 24 hours, reaching $0.227. Compared to the previous week, DOGE has soared by 50%, fueled by growing investor interest and an overall bullish market.

Technical Analysis

Dogecoin's uptrend finds support in technical analysis. The emergence of a "golden cross," a bullish indicator indicating the daily SMA 50 crossing above the daily SMA 200, sparked the rally. Since November 4th, DOGE has maintained its momentum, with six out of seven days ending in the green.

Market Cap Surpassed

This rally has propelled Dogecoin's market cap, allowing it to exceed XRP's. DOGE now ranks as the seventh largest cryptocurrency, with a market cap of $33.32 billion, marginally ahead of XRP's $33.29 billion.

XRP's Gains

XRP has also experienced growth this past week, though to a lesser extent. Over the week, XRP gained 16%, and at the time of writing, it has risen 6% in the past 24 hours to $0.585, having momentarily hit intraday highs of $0.592, a level not witnessed since early October.

Future Outlook

As Dogecoin continues to attract attention, its performance in the coming weeks will be closely monitored, particularly in relation to XRP. Whether DOGE can sustain its lead or continue to ascend remains uncertain.