XRP and Dogecoin have both significantly outperformed Bitcoin over the last five years. The bull case for Dogecoin hinges on positive speculative momentum returning for meme coins. Investors should weigh their personal risk tolerance and return goals when choosing between XRP and Bitcoin. Even though the cryptocurrency market has been highly volatile over the last half-decade, investors who took a buy-and-hold approach with top coins generally wound up seeing strong returns.
Bitcoin’s token price has risen 171% over the last five years. XRP’s token price has rocketed 613% higher across the stretch. Dogecoin’s gains have been 1,390% over the period.
Which of these cryptocurrencies looks like the best buy right now? Bitcoin continues to be the largest cryptocurrency by valuation and has a market capitalization of roughly $1.8 trillion. XRP is the fifth-largest token overall and has a market cap of roughly $119 billion. The difference in valuations reflects vastly different levels of support for the respective tokens.
Bitcoin is unlikely to lose its status as the market’s leading token by valuation any time soon, but XRP’s smaller market cap could leave the door open for more explosive upside. Pricing dynamics for Bitcoin continue to have a powerful effect across the crypto market, and they play a big role in shaping XRP’s valuation momentum. If the crypto market sees strong bullish momentum over the next year and beyond, XRP stands a good chance of outperforming Bitcoin. Alternatively, Bitcoin will likely outperform XRP if gains for the crypto market are relatively muted — or if bearish momentum accelerates.
For a meme coin, Dogecoin has demonstrated impressive longevity. The cryptocurrency has a market capitalization of roughly $21.4 billion and ranks as the ninth-largest coin by valuation. While the meme coin’s ability to retain a top-10 ranking on the crypto charts has been impressive, it doesn’t mean that the cryptocurrency is a top long-term buy. The market’s leading meme coin comes with a lot of risk, and relative adoption trends suggest that the potential upside isn’t worth the trade-off.
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