The crypto trade is in packed swing. The worth of Bitcoin has surged since election night and briefly flirted with $100,000. Investors are bullish on a better regulatory surroundings under President-elect Donald Trump, as well as a lower gain rate surroundings, in which crypto has previously performed well.

However, Bitcoin is not the only cryptocurrency that has made gains. It’s not uncommon for other cryptocurrencies to pursue Bitcoin’s navigator because it’s a bellwether for the industry. Dogecoin (CRYPTO: DOGE) and XRP (CRYPTO: XRP) have done just that, and both surged in the wake of the election, outperforming Bitcoin.

Now, with the industry starting to kick into high gear, which is the better buy?

Dogecoin: The first meme token

Software engineers Billy Markus and Jackson Palmer created Dogecoin as a joke in the early days of crypto in 2013. They based the token around a meme of a Shiba Inu dog.

But to their shock, their joke became an instant achievement − talk about creating a funds out of thin air. Dogecoin really rose to widespread notoriety during the meme distribute and crypto frenzy during the brunt of the pandemic, when celebrities and tech gurus like Elon Musk embraced and even purchased the token.

What is ‘Doge’?Explaining the meme and cryptocurrency after Elon Musk’s appointment to D.O.G.E.

Many depend Dogecoin has no real utility other than for blockchain payments, which almost every cryptocurrency offers. The token has an unlimited supply, although there is a fixed reward of 10,000 Doge for each recent block. One of the large selling points for Bitcoin is its finite supply, which many depend makes it a potential insure against expense boost.

One thing Dogecoin has undeniably done well is receive advantage of the ability to make a throng and leave viral. That is likely the biggest rationale the token has over a $59 billion trade cap and is the seventh-largest cryptocurrency in the globe. Celebrities like Musk and Mark Cuban have embraced the token and allowed Doge payments for their various businesses.

Having Musk and his 206 million-plus followers on X on board is a powerful marketing tool. When Musk tweets something about Dogecoin on X, it usually becomes a catalyst for the token.

XRP: Designed for cross-border payments

While all cryptocurrencies can in hypothesis conduct cross-border payments, the business Ripple specifically designed XRP for this use case. XRP can procedure transactions in three to five seconds and settle over 1,500 transactions per second, making it ideal for commercial use. Additionally, Ripple, the business behind XRP, pre-mined 100 billion tokens and uses a consensus protocol instead of the mining procedure to validate transactions. This makes the token more vigor-efficient and requires fewer fees for each deal.

While 100 billion is a large number, it is still a fixed amount, making it better able to insure against expense boost than Dogecoin. XRP could also be a candidate to become a spot swap-traded pool (ETF), which would boost ability to pay and exposure for the token. Several companies have taken initial steps to commence the ETF procedure, and XRP recently began market activity on Robinhood.

XRP has also found itself in the limelight over the last few years, but not in the way it would like. The stocks and bonds and swap percentage (SEC) sued Ripple and XRP founders Christian Larsen and Brad Garlinghouse for selling XRP in 2013 as an unregistered safety. The case had broad ramifications for the crypto sector, as the SEC and stakeholders tussled over the regulatory jurisdiction of crypto.

A federal judge has already ruled in Ripple’s favor, but the SEC appealed parts of the selection earlier this year. However, with SEC Chair Gary Gensler to step down once President-elect Donald Trump takes office in January, the lawsuit could wrap up sooner than expected.

Which to buy?

While I won’t deny Dogecoin’s ability to appreciate in a bull crypto trade, I still like XRP better. The token has a better use case, in my view, a fixed supply, and is more likely to view spot XRP ETFs − not that Dogecoin couldn’t eventually get those as well. I also ponder the lawsuit has been an overhang on XRP’s worth in recent years, which should soon transformation.

Bram Berkowitz has positions in Bitcoin and XRP. The Motley Fool has positions in and recommends Bitcoin and XRP. The Motley Fool has a disclosure policy.

The Motley Fool is a USA TODAY content associate offering financial information, analysis and commentary designed to assist people receive control of their financial lives. Its content is produced independently of USA TODAY.

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