Will Doge Go Up & Is it Time to Buy XRP?
Here’s a crypto market round-up for the past week with some highlights you might have missed.
A Buying Opportunity for Ripple (XRP)?
Earlier this week, Ripple CEO Brad Garlinghouse said that his company was making significant enough progress in the company’s legal battle with the US Securities and Exchange Commission (SEC) to make him think the lawsuit would likely end next year. Whatever the outcome, the results of the lawsuit are expected to have a widespread effect on the cryptocurrency industry as a whole.
Thus far, the ongoing legal battle between the SEC and Ripple has interfered with the potential of Ripple’s digital coin (XRP). The XRP coin has not enjoyed the same rate of success as other lesser-known digital assets, but all things considered, the XRP coin is up more than 130% year-to-date which is quite an accomplishment for such an embattled company.
The XRP has been on a downward trend since hitting a ceiling of 1.35 on Nov. 11th, and if the XRP coin should fall to .85, many believe it would be the key support point for XRP and a good opportunity to buy again.
If the outcome of the SEC affair leans in Ripple’s favour, many believe it would send the market into a massive buying frenzy. If what Garlinghouse says is true, we don’t have much longer to wait.
Dogecoin - Most “Googled” Cryptocurrency
Continuing our crypto market round-up, we move to Dogecoin.
It can only be interpreted as a ‘positive’ for the cryptocurrency that was originally created as just a joke by a couple of software engineers back in 2013. Dogecoin became the most-googled cryptocurrency in more US states than crypto titans Bitcoin and Ether combined. So, will Doge go up based on recent popularity surges?
According to research by The Advisor Coach, a financial advisor, Dogecoin, a cryptocurrency that is based on an internet meme of a Japanese Shiba Inu dog, was the most Googled cryptocurrency in more than 20 states, including Florida, Illinois and Michigan.
2021 has been a great year for Dogecoin thanks largely to mega-boosters like Tesla CEO, Elon Musk, who has made positive remarks about the cryptocurrency on Twitter and has even hinted at the possibly of accepting Dogecoin as a form of payment for his car models. Dogecoin is up approximately 5000% since it was introduced, according to some valuations.
Crypto Wallet Start-up BRD Bought
Crypto wallet start-up BRD, formerly known as Breadwallet, has been acquired. BRD is behind the digital asset Bread (BRD) and once news of the acquisition by Coinbase was announced, crypto investors were buying.
The price of BRD coin immediately went stratospheric, achieving a 500% plus increase in value within just two hours of the news being announced.
BRD went from approximately $0.16 and peaked just over a dollar per coin ($1.01).
BRD co-founders Adam Traidman and Aaron Voisine said that deal ‘will accelerate the company’s decentralization goals’ and that ‘nothing will change’ for users following the company’s acquisition.
Author: Greyson Kelly
Greyson Kelly is a business writer living in Milwaukee, Wisconsin. He writes extensively on technological trends, cryptocurrency, and ‘cutting edge’ industry topics. He has an MBA in Business and has over a decade of experience in communications and public relations.