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XRP (XRP) and Dogecoin (DOGE) rank among the notable gainers in Grayscale’s latest weekly snapshot featuring the top 10 best-performing cryptocurrencies.
According to the data, Dogecoin and XRP recorded strong weekly returns between December 26, 2024, and January 2, 2025. This significant feat elevated them to Grayscale’s list of top gainers over the past week.
XRP and Dogecoin Weekly Performances
Per the data, XRP registered a return of 11.9% in the past week, positioning it as the second-biggest gainer in the snapshot from December 26, 2024, to January 2, 2025.
As of January 2, XRP boasts a year-to-date (YTD) return of 15.9%, pushing its market cap to $139.9 billion. Notably, XRP ranked behind Cardano (ADA), which took the first position with a weekly return of 12.2%.
However, Dogecoin witnessed a surge of 8.6% within this timeframe, making it the fourth-biggest gainer for the period ending January 2, 2025. The data showed that Dogecoin has already soared 7.1% within the first two days of the year. When the data was published, Dogecoin had a market cap of $53.5 billion.
📸 Grayscale Crypto Snapshot – Assets
Our weekly snapshot of the top 10 #crypto assets by 1 week returns.–$ADA $XRP $SOL $DOGE $AVAX $TRX #ethereum $BNB #bitcoin $TON pic.twitter.com/e9YV0O17YW
— Grayscale (@Grayscale) January 3, 2025
Grayscale Weekly Snapshot
Overall, Grayscale’s weekly snapshot shows that Cardano led with a 12.2% return, followed closely by XRP’s 11.9% gain in one week. Solana (SOL) took the third position with a 10.5% weekly surge, and Dogecoin claimed the fourth position thanks to its 8.6% price increase.
Avalanche (AVAX), Tron (TRX), Ethereum (ETH), Binance Coin (BNB), Bitcoin (BTC), and Toncoin (TON) ranked behind Dogecoin. These assets posted modest returns of 5.1%, 4.9%, 3.6%, 2.6%, 1.3%, and -1.4%, respectively, over the past week.
Potential Factors Behind XRP and DOGE Rallies
Meanwhile, XRP’s surge is most driven by optimism surrounding the potential resolution of the SEC v. Ripple lawsuit. XRP proponents are confident that the multi-year lawsuit will be resolved under the new SEC administration, led by pro-crypto advocate Paul Atkins.
This speculation soared recently following the inauguration of the 119th U.S. Congress, which Ripple CEO Brad Garlinghouse nicknamed the most pro-crypto Congress in history.
On the other hand, Dogecoin has attracted the attention of top market observers, with many projecting that the memecoin may soar to unprecedented levels in 2025. In particular, popular analyst Javon Marks forecasted that Dogecoin could trade above $20 this cycle, which is expected to end in 2025.
This optimistic forecast boosted Dogecoin’s demand, with whales accumulating 300 million DOGE on January 1. These investors are increasing their DOGE holdings in anticipation of the token’s imminent surge to ambitious targets like $20.
In the meantime, XRP is trading at $2.46, up 13.85% over the past week. Similarly, Dogecoin has also soared 22.49% in the same timeframe to $0.3876.