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With Bitcoin reaching the $67,000 level, signs of recovery have started to emerge in the cryptocurrency market. During this period, the total market value increased by approximately 2.50% within 24 hours and rose to $2.55 trillion on May 18. During the rise, some cryptocurrencies with a market value below $50 billion but approaching this level have continued to attract attention. So, which of these are standing out in the market? We examined two of them for you.
How Much is XRP?
XRP’s price performance has always been a question mark for investors from past to present. Generally, the price has remained below $1, and finding support above the $0.50 level has always been difficult for XRP.
Despite this, there is always optimism among investors about XRP’s future. In the future, if the ongoing legal disputes between Ripple, the issuer of XRP, and the Securities and Exchange Commission (SEC) are resolved, significant support could form for XRP.
It is also thought that the upcoming stablecoin launch by Ripple could attract larger investor groups to the platform, benefiting XRP. This development could bring more adoption and contribute to Ripple’s ecosystem.
On the other hand, it was revealed last week that XRP whales made significant purchases of XRP. As mentioned in our news, whale addresses with investments between 1 million and 10 million XRP accumulated $55 million in the last two weeks.
As the first half of 2024 approaches completion, these factors could potentially form the basis for a price movement in XRP and possibly trigger a move towards a market value of $50 billion. As of the time of writing, XRP continues to trade at $0.52 with a market value of $28.8 billion.
Dogecoin (DOGE) Comments and Future
As the first half of 2024 comes to an end, there is a debate in the entire market about whether it is time for DOGE to move towards the historic peak of $1. The undisputed leader in terms of volume in the meme coin world, DOGE has a market value of approximately $22 billion and around 7 million on-chain investors.
Recently, renowned cryptocurrency analyst World Of Charts stated that Dogecoin is moving towards a critical descending trend line, and a breakout from this trend line could trigger a potential move with a 100% increase, bringing a target of $0.29.
Dogecoin continues to benefit from the presence of one of its biggest supporters, Elon Musk. It is thought that future products similar to X Payments could contribute to Dogecoin’s utility, increasing its awareness and price.
As of the time of writing, DOGE continues to trade at $0.1527 with a market value of $22 billion and is moving towards a market value of $50 billion. It should also be noted that DOGE reached a market cap of $88.8 billion in the past.
