Top Trader Calls Dogecoin Budget XRP — Here's Why
Release: 2024/11/22 21:24 Reading: 601
Cover image via U.Today
Popular crypto trader "DonAlt" recently shared an update on the price performance of Dogecoin (DOGE) and XRP, two of the most hyped alternative cryptocurrencies.
Since the beginning of November, both cryptocurrencies have surged over 140%, emerging as the biggest winners in the altcoin space despite having tens of billions of dollars in assets.
However, their price performance diverges; XRP gained 37% more in the last two days, while DOGE managed only 8.8% gains.
DonAlt's analysis suggests that DOGE could follow XRP's price pattern of the past two days, as both assets have entered an accumulation phase after a rapid price spike.
XRP appears to have moved past this stage with its recent performance, while DOGE's price remains within a tight range.
According to DonAlt, if DOGE bulls succeed, both altcoins could reach new local highs in a synergistic action similar to earlier this month. However, he emphasizes that this outcome is not guaranteed and that the two cryptocurrencies are not inherently connected.
Nevertheless, the scenario warrants monitoring for potential convergence.
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