DOGE makes TOP 5 by Market Cap... XRP Hits $1.96 in Light of Favorable Court Rulings

ETH | Ethereum

$2,398 +1.14%

DOGE | Dogecoin

$0.276383 -5.39%

ZEC | Zcash

$276.81 +13.27%

On 15th April, ETH reached yet another all-time high at $2,540. As investors worry whether Ether could be overbought, experts believe ETH could go as high as $5,000 in the next few weeks. While its Market Value (MV) lies at $2,400 at the time of writing, its Realized Value (RV) is at $802. This leaves the MVRV Ratio at 2.99. The last bull run saw this ratio reach 6, which means ETH still has significant upside potential.

Meanwhile, there's no stopping DOGE as the memecoin surpassed Uniswap and Litecoin to be ranked 8th by market cap this week. At one point, it even passed DOT, ADA, and USDT. At the time of writing, DOGE trades at $0.28.

Significant protocol upgrades and developments have contributed to the rise of several altcoins. Last week, Zcash (ZEC) announced a set of upgrades termed the Halo Arc in conjunction with the activation of the Network Upgrade 5 (NU5) and unified addresses. These upgrades seek to improve usability and interoperability. This helped push ZEC to $294 last week.

EOS is up by 245% in 2021 as protocol upgrades fuel significant interest. One of those upgrades is the integration of the new EOS PowerUp Model which improves resource allocation on the blockchain. Block.one, the team behind EOS, also announced a new testnet called EOSIO in April while Google Cloud posted an article discussing its collaboration with EOSIO. On April 16th, EOS reached a two-year high at $8.8.

XRP Hits $1.96 in Light of Favorable Court Rulings

Another legal victory pushed XRP to a three-year high last week. In December 2020, the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against Ripple, alleging that its sale of XRP was an unregistered securities offering worth over US$1.38 billion.

On Friday, U.S. Magistrate Judge Sarah Netburn struck down a subpoena from SEC demanding up to eight years of personal financial information of Chris Larsen, Ripple's co-founder and executive chairman, and Brad Garlinghouse, Ripple's chief executive officer. This ruling sparked positive interest in XRP, propelling it to $1.96.