XRP and Dogecoin have both realized impressive starts to 2025, emerging as one of the best-performing cryptocurrencies in the Grayscale Weekly Snapshot.
The altcoin market has started 2025 with solid upward momentum, so it’s no surprise to see Dogecoin (DOGE) and XRP among the top gainers. According to grayscale dataMemecoin joined XRP with a strong rise from December 26 to January 2.
XRP and DOGE see biggest weekly gains
XRP returned 11.9% this week, making it the second-biggest gainer from December 26 to January 2 of this year, according to Grayscale data. Looking at the charts through January 2nd, XRP has achieved a 15.9% year-to-date (YTD) return, pushing its market cap to $139.9 billion.
XRP followed Cardano (ADA), which strongly reversed its recent downtrend, posting weekly returns of 12.2% and YTD of 19%, according to MarketWatch data. Although the gains are modest, Dogecoin recorded an 8.6% gain during this period, making it the fourth-largest gain during this period.
A closer look at the data shows that the meme coin King is up 7.1% in less than 48 hours into the new year. At the time of publication, Dogecoin had regained strength, pushing its market capitalization to $53.5 billion, per CoinGecko data.
Strong Rally in Altcoins in Grayscale’s Weekly Snapshot
A review of the weekly performance released by Grayscale shows that Cardano surged 12.2%, followed by XRP at 11.9%. Cardano (ADA)’s recent upward trend has seen this altcoin regain its way towards the elusive unit price. Although ADA failed to print the $1.0 milestone, it moved up the 9th ranked cryptocurrency as the cryptocurrency community is optimistic about favorable developments as Donald Trump’s inauguration approaches.
Solana (SOL) ranked third in the Grayscale cryptocurrency snapshot, ahead of Dogecoin by 10.5% for the week. In the latest rally, SOL closed above $200 for the first time since falling below $190 from $201.40 on December 25..
Grayscale Weekly Snapshot reports other altcoins, including Avalanche. Ethereum, Tron, and Binance Coin realized significant profits from orders ending January 2nd. In particular, Avalanche (AVAX) achieved 5.1%, while Tron (TRX) and Ethereum (ETH) and Toncoin ( TON) fell 1.4% during this period.
Factors driving the XRP and DOGE rally
There are several factors driving the recent surge in XRP, primarily optimism about the potential conclusion of the Ripple lawsuit leveled by the US Securities and Exchange Commission (SEC).
XRP supporters are confident that the multi-year lawsuit is approaching a resolution with cryptocurrency advocate Paul Atkins taking over as SEC Chairman, succeeding Gary Gensler. The XRP military has often argued that the securities watchdog led by Gensler oversaw an era of regulation by enforcement.
The speculation surfaced following the inauguration of the 119th US Congress, where the head of Ripple Labs was profiled as having the most cryptocurrency-supporting lawmakers. In addition to the case ending in the appeals phase, Ripple has ongoing strategic plans aimed at entering the lucrative derivatives markets, tokenization, and the RLUSD stablecoin.
Dogecoin appears to have recently caught the attention of major market observers. Because the biggest meme coin predicts that 2025 could be testing uncharted territory.. In particular, leading analyst Javon Marks said: Recent X posts, DOGE could soar to $20 this bull cycle.
Marks’ optimistic predictions are progressing as whales accumulate 300 million Dogecoin on January 1st. Intensified activity from large investors indicates expectations that DOGE will surge to $20.
XRP witnessed a surge in market activity, with daily trading volume increasing 1.7%, reaching $4.564 billion. With this contrast, DOGE market activity is currently at 37.70%. 3.696 billion in the last 24 hours.