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XRP Market Cap Rose, but Here’s Why It Could Fall Behind DOGE

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Ripple’s (XRP) market cap rose but could soon lose its stop to Dogecoin (DOGE) if both cryptocurrencies continue to keep up with the recent performances. Over the last 24 hours, XRP’s price has increased by 5.20%, while DOGE jumped by 22%.

Should this trend persist, DOGE’s rapid growth rate could enable it to close the gap in market cap between the two cryptocurrencies. The outcome also hinges on whether XRP can sustain or accelerate its gains. 

Ripple Low Activity Puts Its Position At Risk

XRP’s market cap rose to $30.63 billion and remains the seventh most valuable cryptocurrency. Dogecoin, on the other hand, is eighth in the standings, with a value of $30.26 billion. For context, the market cap is the product of price and circulating supply.

Therefore, since both DOGE and XRP have all their total supply in circulation, their respective prices determine the market cap growth. Therefore, if XRP’s price continues to lag behind DOGE’s fast-paced movement, it could drop behind the meme coin.

Notably, XRP’s price increase could be linked to the broader market recovery. But for DOGE, its growth hinges on rising market interest and Elon Musk’s consistent support for Donald Trump with the several posts of the Department Of Government Efficiency (D.O.G.E).

Read more: How to Buy XRP and Everything You Need to Know

XRP market cap. against trump
XRP vs. Dogecoin Market Cap. Source: Santiment

With Donald Trump anticipated to be declared president, Dogecoin will likely continue its rally, leveraging the boost in sentiment driven by his known favorable stance toward cryptocurrencies. This potential surge in DOGE could put additional pressure on XRP, causing it to lag behind.

Another metric suggesting that XRP could fall behind DOGE is the Mean Dollar Invested Age (MDIA). The MDIA is the average age of all tokens on a blockchain weighted by the purchase price.

When the metric falls, most tokens are no longer dormant, and the price can increase. But in this case, the metric is rising, suggesting low trading activity and making it difficult for the price to increase.

XRP dormant tokens rises
XRP Mean Dollar Invested Age. Source: Santiment

XRP Price Analysis: Altcoin Overbought

A look at the 4-hour chart shows that the Bollinger Bands (BB) is expanding, indicating high volatility around the cryptocurrency. However, the upper band hand of the indicator has also touched XRP’s price at $0.54.

When the upper band of the BB hits the price, it means that the asset is overbought. Assuming the lower band did, then the assets would have been deemed oversold. Since it is the former, it means that XRP’s price might possibly retrace to $0.51.

Read more: Ripple (XRP) Price Prediction 2024/2025/2030

XRP price analysis
XRP 4-Hour Analysis. Source: TradingView

If this happens, then XRP’s market cap could fall behind DOGE if the latter’s price increases. On the other hand, a break above the $0.55 resistance could invalidate this forecast.  In that scenario, the altcoin could jump toward $0.60.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Cardano (ADA) Price Hits 41% Weekly Growth, $1 Target in Sight

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Cardano (ADA) price has surged 41.89% in the last seven days, signaling strong bullish momentum in the market. The uptrend remains strong, supported by key technical indicators like the ADX and Ichimoku Cloud, which point to sustained positive sentiment.

However, signs of consolidation and narrowing gaps in short-term indicators suggest that the rally could face challenges if buying pressure weakens.

ADA Current Uptrend Is Still Strong

Cardano DMI chart shows an ADX of 42.7, indicating a strong trend. The metric has remained above 40 since November 7. This high ADX value confirms the robustness of ADA ongoing uptrend, signaling solid momentum behind the recent price movements.

With the positive directional index (D+) at 21.3 and the negative directional index (D-) at 11, bullish pressure continues to outweigh bearish activity, further supporting the upward trajectory.

ADA DMI.
ADA DMI. Source: TradingView

The ADX measures the strength of a trend without considering its direction. Values above 25 indicate a strong trend, while those below 20 suggest a weak or nonexistent trend. With an ADX at 42.7, ADA is clearly in a strong uptrend, showing significant market confidence.

The gap between D+ and D- reinforces the bullish dominance, suggesting that ADA price could sustain its upward movement if current conditions persist.

Cardano Ichimoku Cloud Shows An Important Signal

The Ichimoku Cloud chart for Cardano indicates a generally bullish trend, as the price remains above the cloud (Kumo). The Tenkan-sen (blue line) and Kijun-sen (red line) are relatively flat, showing signs of consolidation after ADA’s recent rally.

While the price is still trading above these lines, the narrowing gap between the price and the Tenkan-sen suggests weakening short-term momentum.

ADA Ichimoku Cloud.
ADA Ichimoku Cloud. Source: TradingView

The green cloud ahead signals potential support for ADA uptrend, but the current consolidation phase highlights the need for sustained buying pressure to maintain this momentum.

If the price drops below the Kijun-sen or approaches the cloud, it could signal a possible shift toward bearish sentiment.

ADA Price Prediction: Can It Reach $1 In November?

If Cardano (ADA) maintains its strong uptrend, it could test the resistance at $0.85. Breaking this level could pave the way for further gains, with the potential to reach the $1 threshold, marking a 20% rise from current levels and the highest price for Cardano since April 2022.

ADA Price Analysis.
ADA Price Analysis. Source: TradingView

However, as indicated by the Ichimoku Cloud, a potential reversal could be on the horizon. If bearish momentum takes over, ADA price could face significant downward pressure, potentially dropping to $0.51.

If this support fails, the price could decline further to $0.32, representing a steep 59% correction. This highlights the importance of the current support and resistance levels in determining ADA’s next direction.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Why SUI Network Outage Did Not Cause a Price Crash

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Earlier today, the Layer-1 blockchain Sui experienced a two-hour blackout, halting block production and rendering transaction processing impossible. This network outage led to a slight dip in SUI’s price, falling from $3.73 to $3.64.

Despite concerns of a more significant decline, the price stabilized after the project announced that the network was fully restored and operational.

Sui Comes Back Online, Altcoin Still in Good Position

Around 10:52 UTC, web3 security firm ExVull disclosed that a DOS bug caused the Sui network outage. Fully known as a Denial-of-Service (DoS) attack, the bug” refers to a software attack that overwhelms a system with excessive traffic or requests, causing it to become unavailable to legitimate users by crashing or severely slowing its functionality.

“After our analysis, it was found that the Sui Network node occur DOS due to integer overflow,” ExVul stated.

Following this development, several exchanges halted SUI transactions as the price also dipped a little. However, nearly two hours later, the project updated its community, saying that validators had assisted in resolving the issue.

“The Sui network is back up and processing transactions again, thanks to swift work from the incredible community of Sui validators. The 2-hour downtime was caused by a bug in transaction scheduling logic that caused validators to crash, which has now been resolved,” it explained.

Meanwhile, data from Messari showed that, amid the outage, the Sharpe ratio remained positive. The Sharpe ratio is a key measure of risk-adjusted return, indicating how much excess return an investment generates relative to its volatility

It helps investors assess whether the returns of a riskier asset justify the risk taken. A higher ratio signifies better risk-adjusted performance. Typically, when the ratio is negative, it means that the risk might not be worth the reward.

SUI Sharpe ratio
Sui Sharpe Ratio. Source: Messari

However, since it is positive for SUI, it indicates that accumulating the altcoin around its current value could still yield positive returns.

SUI Price Prediction: Run Above $4

On the daily chart, SUI continues to trade within an ascending channel. An ascending channel, also called a rising channel or channel up, is a chart pattern defined by two parallel upward-sloping lines. 

It forms when the price shows higher swing highs and higher swing lows, indicating an ongoing uptrend. Furthermore, the Chaikin Money Flow (CMF) has increased, suggesting that buying pressure has outpaced distribution.

Sui price analysis
Sui Daily Analysis. Source: TradingView

If this continues, SUI’s price could climb above $4. However, if a Sui network outage occurs again, this might not happen. In that scenario, the value could drop below $3.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Aptos Partners with Circle and Stripe to Revitalize Network

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The Aptos Foundation announced a new partnership with Circle and Stripe, hoping to revolutionize its network functionality. Circle’s CCTP and USDC stablecoin will enhance blockchain interoperability, while Stripe will attract TradFi by simplifying fiat interactions.

Aptos has set ambitious goals with this partnership, but APT’s upward momentum has stagnated.

Aptos Partners with Circle and Stripe

According to a new announcement from the Aptos (APT) Foundation, its network is integrating Circle’s USDC stablecoin and Cross-Chain Transfer Protocol (CCTP). Additionally, Aptos is integrating the payment platform Stripe, generally streamlining fiat-related features. These include on- and off-ramps, payment processing, and TradFi ease of adoption.

“Once the integration is complete, users will be able to seamlessly transfer USDC between Aptos and 8 major blockchains. In addition to USDC and CCTP, Stripe will soon launch its payment services on Aptos, creating a reliable fiat on-ramp to streamline merchant pay-ins and payouts using Aptos-compatible wallets,” the firm claimed via press release.

In other words, Aptos aims to use this partnership to make itself “the ultimate hub for interoperable DeFi.” These companies will approach this goal from both ends: enticing new users and investors while substantially improving the core experience. This partnership marks a new development for Stripe’s integration with crypto.

Indeed, Stripe took a six-year hiatus from cryptocurrency payments, which only ended this April. Since then, however, it’s been engaging seriously with the industry. The firm entered an earlier partnership with Circle this June, hoping to promote USDC adoption. Additionally, Stripe acquired Bridge, a crypto payment platform, last month.

For its part, Aptos is undertaking a recovery process. Despite a major price spike in March, it suffered a lingering decline for most of 2024. The asset began regaining steam in October, and the November bull market has brought increased optimism. Still, its gains have stagnated for about a week.

Aptos Price in 2024
Aptos Price in 2024. Source: BeInCrypto

This partnership between Aptos, Circle, and Stripe may help APT regain its forward momentum. These ambitious new features will greatly add functionality and accessibility to Aptos’ network. Still, the firm has set a very ambitious goal for itself: to solidify “its place as a leader in interoperable DeFi and enterprise-grade blockchain technology.” Only time can tell its success level.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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