Ripple (XRP) jumps by 10% but Dogecoin (DOGE) reverses it

Today, the entire cryptocurrency market is in the green, but some are doing better than others. Ripple's native token, for example, has seen a significant 10% daily increase and sits above $0.6.

However, to another multi-year high, Dogecoin lost its position as the 7th largest cryptocurrency by market capitalization.

The last 24 hours have reinforced the general trend of brutality that started after Donald Trump won the 2024 US presidential election. Moreover, it was mostly about altcoins like ADA and DOGE, although BTC has already released a new peak of its own.

Dogecoin's price increase has been particularly impressive. MemCoin rose 19% in the previous day and broke above $0.24 for the first time since the end of 2021. DOGE price has increased by more than 120% in the last 30 days.

With a current market cap of nearly $36 billion, Dogecoin has now surpassed XRP to become the 7th largest cryptocurrency. This comes despite Ripple's strong performance the previous day, pushing it above $0.6 for the first time in weeks.

A number of prominent crypto analysts have speculated about the Mimi coin supercycle, which could bring even more impressive benefits to the space. SHIB, for example, is another big gainer today, up 25% and trading above $0.000024.

We are very close to the last chance to add a zone in crypto. The next step should be to come up with a meme and then do nothing but wait to take lifestyles off the table.

Here $DOGE is leading the eclipse… 1/ pic.twitter.com/rEztxyqTRr

— Raoul Pal (@RaoulGMI) November 10, 2024

A possible resolution of the ongoing legal case between Ripple and the SEC could affect XRP's performance. Remember that Trump promised to fire SEC Chairman Gary Gensler on Day 1, which could lead to a quick conclusion.