Expert Says Dogecoin is the ‘Budget Version’ of XRP, Expects DOGE to Mirror XRP Uptrend

An expert trader believes Dogecoin is the “budget version” of XRP, suggesting the price of DOGE could follow the same uptrend XRP recently witnessed.

This sentiment was shared on X by DonAlt, a notable market expert with years of experience. Remarkably, data from two accompanying charts confirmed that XRP and Dogecoin had followed a similar price trajectory since early November, amid political developments in the U.S.

Dogecoin and XRP Trail Similar Paths

Notably, from Nov. 5, following the latest U.S. presidential election which saw pro-crypto candidate Donald Trump emerge victorious, DOGE was one of the earliest beneficiaries of the resulting market trend. This was partly due to Elon Musk’s contributions to the Trump victory.

Dogecoin witnessed an impressive spike, soaring from $0.1513 on Nov. 5 to a peak of $0.4389 on Nov. 12, a level it had not seen since June 2021. This marked a massive 190% increase within a week. 

However, following the $0.4389 top, Dogecoin faced immense resistance, dropping to a low of $0.3401 five days later. Despite this pullback, the bulls demonstrated resilience, firmly defending the $0.34 territory and hedging against any steeper slump.

This battle between bulls and bears led to an impasse, with Dogecoin largely consolidating between $0.34 and $0.43 for up to ten days. Nonetheless, amid the consolidation phase, multiple analysts expect an imminent breakout soon.

Interestingly, the daily XRP chart reveals that XRP followed a similar price trajectory as Dogecoin within the same timeframe earlier in the month. For context, XRP rallied 150% from $0.5033 on Nov. 5 to a three-year top of $1.26 on Nov. 16. After this high, it also faced consolidation.

However, unlike Dogecoin, XRP only traded within a range for four days. By Nov. 21, the altcoin recorded an impressive 12.86% intraday gain, allowing it to surpass the previous high and has continued to spike since then, especially following SEC Chair Gary Gensler’s resignation note.

DOGE Could Mimic XRP Breakout

DonAlt’s commentary suggests Dogecoin is on track to record similar price movements. As of press time, DOGE has already surpassed the previous $0.4389 peak, having surged to a top of $0.4653 earlier in the morning. This bullish move already prepares the groundwork for a rally that follows XRP’s path.

A structure that further bolsters the idea that both tokens are moving in the same trajectory is the formation of a bull flag on both daily charts. This pattern forms when an asset skyrockets sharply and then faces consolidation. It suggests that the previous uptrend would continue once the consolidation breaks.

Notably, since it broke out of its consolidation, XRP has gained 34.57% within three days, currently trading for $1.50. A similar push for DOGE would see the meme coin spike to $0.56. However, most analysts expect more substantial surges toward the $1 level and beyond. DOGE now trades for $0.4706, up 13% today.