The Cryptocurrency Market Thrives, with Ripple and Dogecoin Leading the Surge

The cryptocurrency market is experiencing a positive surge, with notable gains across various coins. Ripple's XRP token has recorded a significant 10% increase in the last 24 hours, surpassing the $0.6 mark.

However, XRP has lost its position as the seventh-largest cryptocurrency by market capitalization to Dogecoin (DOGE), which has surged to a new multi-year high.

Bullish Trend Reinforced After Trump's Victory

The market's bullish sentiment has been boosted by the aftermath of Donald Trump's victory in the 2024 US presidential elections. This momentum has primarily favored altcoins like Cardano (ADA) and DOGE, despite Bitcoin (BTC) also reaching a new peak.

Dogecoin's Impressive Performance

DOGE has been particularly impressive, with a 19% surge in the past day. It has surpassed the $0.24 level for the first time since late 2021. Over the past 30 days, DOGE has skyrocketed by more than 120%.

Ripple's Notable Advance

Despite DOGE's recent dominance, XRP has also performed well. Its latest surge has pushed it above $0.6, a level it has not reached in weeks.

Meme Coin Supercycle Speculation

Crypto analysts are speculating about an impending meme coin supercycle, which could lead to further gains in niche coins. Shiba Inu (SHIB) has also recorded a significant 25% increase today, trading above $0.000024.

Upcoming Meme Breakout?

Crypto analyst Raoul Pal believes that the market is approaching a "Last Chance to Add Zone." He anticipates a breakout in meme coins, followed by a period of significant profit-taking.

SEC Case Impact on XRP

XRP's future movements could be significantly influenced by an anticipated resolution in the legal case between Ripple and the US Securities and Exchange Commission (SEC). Former President Trump has previously pledged to dismiss SEC Chair Gary Gensler, potentially expediting the case's conclusion.