Ripple Labs may be ending 2020 with the SEC litigation that has put XRP holders in a quandary since May 12, but Dogecoin (DOGE) could turn things around this year.3
At the time of writing, #Dogecoin has a market capitalization of £19.8 billion. The hashrate-based meme currency was trading at 0.145.
Meanwhile, according to Coinmarketcap, the price of #Ripple #XRP was hovering at $0.5 per token in the market with a market capitalization of 27 billion coins.
According to one legal expert, Ripple's lawsuit against the U. S. Securities and Exchange Commission could be finalized as early as this summer. This would mean an end to XRP's constant failures and help its assets grow.
But here are 1 or 2 reasons Dogecoin could raise Ripple's market value by 7 little green candles later this year.
Dogecoin has Elon Musk. That's a huge amount of credibility and notoriety. To get ahead of #DOGE , Ripple needs a champion with the same credibility.
The closest one is Gary Gensler. After all, the fierce opposition to XRP from the chairman of the SEC is that this cryptocurrency has become so disruptive in global finance that it has a huge impact on the money being invested.
In 2019, DOGE was trading at 4 coins per coin, and the head of Tesla and SpaceX tweeted, at 0.003. That's pretty cool. "That's a +5% return on OG meme coins over 4600 years, averaging +920% per year.
Inflows from large Dogecoin holders increased 582% in 24 hours to 4, which is a very optimistic sign for this asset. At the same time, the "whale" Ripple is listing xrp tokens on the exchange, which is a bearish sign.
Crypto Daily Trade Signals, Dogecoin's popular YouTube channel, said: "IntoTheBlock data shows a significant increase in large holder inflows, rising from DOGE 129.63 million to an impressive DOGE 754.75 million, which is about £116.98 million.
Meanwhile, on May 5, a giant whale came to the XRP exchange. On 5/5, trading took place on Bitstamp, bringing 28,240,000 XRP to the exchange (it was worth 14,948,393 at the time).
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