The cryptocurrency market, known for its volatility, has been gaining attention worldwide due to its potential for substantial returns. This speculative market has everyone from seasoned traders to everyday investors wondering which of the popular digital currencies, XRP or Dogecoin, will reach the $1 milestone first. Currently, XRP trades at $0.6649 with a market cap of $35,088,781,717, while Dogecoin is at $0.0742 with a market cap of $10,421,208,194. Let’s take a look at this XRP vs. Dogecoin article in more detail.
XRP vs. Dogecoin: The Case for XRP
XRP, developed by Ripple Labs, has shown remarkable growth and stability compared to other cryptocurrencies. Its association with the financial industry gives it a certain degree of credibility, with several banks and financial institutions adopting the Ripple network for cross-border transactions.
To draw a sensible conclusion on XRP vs. Dogecoin, we have to review their current market prices and trends. To hit the $1 mark, XRP would need to rise by about 50.4% from its current price. Given the existing market cap, the target market cap to achieve this price is approximately $52.7 billion, calculated as follows:
Current price: $0.6649
Price increment to hit $1: $1 – $0.6649 = $0.3351
Percentage increment: ($0.3351 / $0.6649) * 100% = 50.4%
Target market cap: $35,088,781,717 * (1 + 50.4%) = $52,713,316,454.96
XRP vs. Dogecoin: The Case for Dogecoin
Dogecoin, a cryptocurrency that started as a meme, has seen its fair share of highs and lows. It has an active community backing it, and with high-profile support from personalities like Elon Musk, the currency has seen massive, albeit volatile, growth.
For Dogecoin to reach the $1 milestone, it would need to appreciate by approximately 1,246.6% from its current price. That translates into a target market cap of about $140.6 billion, as shown below:
Current price: $0.0742
Price increment to hit $1: $1 – $0.0742 = $0.9258
Percentage increment: ($0.9258 / $0.0742) * 100% = 1,246.6%
Target market cap: $10,421,208,194 * (1 + 1,246.6%) = $140,602,854,777.56
In this XRP vs. Dogecoin price battle, based on the sheer percentage growth needed for each coin to hit the $1 mark, XRP seems to be in a more favorable position, requiring a smaller percentage increase compared to Dogecoin. However, it’s important to note that the cryptocurrency market is highly unpredictable, and these calculations don’t take into account other factors such as future developments, partnerships, regulatory influences, and overall market conditions that could potentially influence the price trajectory of both coins. Ultimately, the crypto market is speculative, and investors should do their due diligence and understand the risks involved before investing.
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