XRP and Dogecoin: Can They Reach $50 Billion Market Cap by 2024?
The cryptocurrency market is experiencing fluctuations, with Bitcoin struggling to maintain its price above $60,000. Despite this, there are indications that some cryptocurrencies may see a surge in market capitalization. Finbold has identified two digital assets that could potentially reach a market cap of $50 billion by May 2024, thanks to upcoming altcoin seasons.
XRP
XRP has been underwhelming, staying below the $1 mark, facing pressure from the market. However, there is optimism surrounding XRPโs future, with potential catalysts like legal disputes with the SEC and the launch of a stablecoin by Ripple. Technical analysis suggests a pattern resembling past behaviors that could lead to a significant uptrend, possibly achieving a $50 billion market capitalization.
- XRPโs current market cap is $27.64 billion, requiring an 80% increase to reach $50 billion.
Dogecoin (DOGE)
Dogecoin had a setback in its quest to hit $1 and reach a $50 billion market cap due to market sentiment. However, on-chain metrics indicate bullish signs for DOGE. Analysts predict a potential price spike for Dogecoin, driven by a consolidation period and strong support from influencers like Elon Musk. Despite recent challenges, DOGE has a chance to see significant growth.
- DOGE would need a 150% increase to reach the $50 billion market cap target.
Hot Take: Potential for Growth Ahead
As the market braces for potential post-halving rallies, XRP and Dogecoin are positioned to capitalize on the momentum. With favorable developments and increasing investor confidence, these digital assets have a feasible path towards achieving a $50 billion market cap in the near future.