The cryptocurrency market is brimming with positivity as Bitcoin hit a new all-time high of $93,477 this week. Financial markets as a whole are soaring after Trump won back the White House earlier this month. Major altcoins are currently hitting their yearly highs and analysts are predicting that the bull run has just begun. XRP and Dogecoin are among the top-performing cryptocurrencies that skyrocketed up the charts in November.
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While Dogecoin soared over 300% in a month, XRP soared 50% in the same period. Both cryptocurrencies are among the most sought-after assets as investors hope to recover further. In this article, we will explain which cryptocurrency could rise from here and where you should invest your money.
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XRP or Dogecoin? What should you buy?
According to the latest price forecasts of CoinCodexbuying XRP now could be more beneficial than investing in Dogecoin. The on-chain metrics and price prediction company believes that Dogecoin has reached its peak and may be calming down on the charts. It has tripled investors’ money in a short period and its rally may be dampened due to heavy selling and profit-taking.
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On the other hand, XRP could further advance in the indices as investors aim for the $1 mark. Dogecoin hunger has been sated while XRP is still open. The price forecasting company predicted that Ripple’s native token could rise another 30% over the next two weeks. On the contrary, Dogecoin is expected to trade sideways as its price has peaked.
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Forecasts estimate that XRP could cross the $1 mark this month and reach a yearly high of $1.07. This represents an additional 30% from its current price of $0.82. So, an investment of $1,000 could turn into $1,300 if the forecast turns out to be correct. Therefore, Ripple’s native token could offer better returns this month than the leading coin.