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Analyst JayDee has urged market participants to pay attention to XRP and Dogecoin for promising opportunities, citing potential bullish developments as the dust from the U.S. elections begins to settle.
Pay attention to both $DOGE & $XRP
1. #DOGE – If or when Department of Government Efficiency starts, 📈📈🚀🚀
2. #XRP – When #Trump fires #Gensler in January 2025, 📈📈🚀🚀
Will you be the 5% who takes "Calculated Profits"? Patreon/Discord, I will make sure to update yall!…
— JD 🇵🇭 (@jaydee_757) November 7, 2024
For XRP, the bullish narrative is largely tied to Donald Trump’s campaign promises, particularly his plans to restructure the U.S. Securities and Exchange Commission (SEC) once he assumes office in January 2025.
Trump has promised to remove SEC Chairman Gary Gensler, and now that he is the president-elect, many in the crypto community are speculating on the possible effects.
XRP Seeing Dramatic Surge
Crypto enthusiasts, especially members of the XRP Army, believe that Trump’s removal of Gensler would create a favorable environment for XRP, leading to significant price gains.
Prominent commentators like Ben Armstrong have even suggested that this could trigger a lasting surge that could position XRP as one of the best-performing crypto assets in this cycle. Armstrong has gone as far as saying that XRP will “pump hard” once Gensler gets the sack.
Amid these speculations, analysts like JayDee are advising market participants to monitor XRP closely, consider investing in the asset, and take profits at the peak of the potential market frenzy.
However, some critics argue that there is little to no correlation between Gensler’s removal and a significant price surge for XRP.
As of now, XRP is trading at $0.5549, up 5% in the last 24 hours amid the post-election market optimism that is driving broader crypto price gains.
Stronger Bullish Case for Dogecoin
Meanwhile, Dogecoin has performed even better than XRP in recent weeks, seeing a price increase of over 80%. It recently crossed $0.2100 before testing the $0.1900 level again.
On one occasion, Dogecoin briefly overtook XRP to become the seventh-largest cryptocurrency by market capitalization. However, XRP has since reclaimed its position as DOGE saw a correction from its overheated rally.
Dogecoin’s 114X Rally Potential
Meanwhile, JayDee highlighted Dogecoin’s potential to see further major price surge, particularly with Donald Trump’s election victory. This is due to Elon Musk’s intentions to serve in Trump’s administration, specifically under the Department of Government Efficiency (DOGE).
Given Musk’s longstanding support of Dogecoin, many crypto analysts believe that the creation of a “DOGE” department within a pro-crypto Trump administration could serve as a strong bullish catalyst for the cryptocurrency.
In a separate analysis, crypto expert Ali Martinez suggested that Dogecoin could surge as high as 11,486%, potentially reaching $23 during this market cycle, especially given Musk’s influence, reminiscent of the meme coin’s spike in 2021.
Legendary analyst Peter Brandt has echoed a similar sentiment, believing in Dogecoin’s substantial upside potential.