XRP Price Prediction as XRP Overtakes Dogecoin in Market Cap Rankings – Top 3 Soon?
XRP price is wallowing in a bearish cloud that is following the cryptocurrency market – especially among the top 100 assets. The international money transfer token is trending 5.7% lower as bulls rush to defend support, highlighted at $0.4280 on its daily time frame chart.
XRP is now the seventh largest cryptocurrency by market capitalization after overtaking the largest meme coin, DOGE. The cross-border payments token boasts $22 billion in market share compared to Dogecoin's $14 billion.
In the last few weeks, these two tokens have been extremely attractive to investors, owing to the various developments within their ecosystems. The XRP Army believes Ripple has the highest probability of winning the lawsuit against the Securities and Exchange Commission (SEC).
For that reason, more crypto enthusiasts have been throwing their support behind XRP, with analysts predicting a break above $1 before the end of 2022 – setting the pace for another rally to its record high at $3.40.
On top of this, Elon Musk's $44 billion Twitter takeover elevated Dogecoin back to the limelight. The world's wealthiest man, now the microblogging platform CEO, has hinted at integrating DOGE into Twitter. Due to Musk's love for the meme coin, Dogecoin price is up 73.70% in a fortnight and 67.60% in the last 30 days.
The Ripple vs. SEC lawsuit has dragged on for nearly two years after the US regulatory filed the case in December 2020. XRP was negatively impacted by the SEC's allegations that Ripple Labs and its top executives raised money while floating unregistered securities to investors.
Major crypto exchanges like Coinbase delisted XRP as a tradable asset, resulting in a massive price drop. Due to this negative publicity and selling pressure, XRP lost
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