Ripple (XRP) or Dogecoin (DOGE): Top Investor Selects One Crypto to Bet On

Momentum in the crypto space is picking up again, with Bitcoin (BTC-USD) appearing poised to reach another high. As is often the case, a new milestone for BTC could trigger a rally in altcoins, which typically exhibit greater volatility than Bitcoin.

Being amongst the leading altcoins, Ripple (XRP-USD) and Dogecoin (DOGE-USD) are both prime candidates for future gains, but are they worth an investor’s time of day?

According to top investor Dominic Basulto – who is among the top 2% of TipRanks’ stock pros – only one of them stands out.

Dogecoin boasts a massive $28 billion market cap, a testament to just how outlandish things can get in the cryptosphere. After all, this is a coin that began as an internet joke and took on a life of its own. But DOGE didn’t rise on irony alone, it’s backed by a devoted community and, crucially, fueled by the high-profile enthusiasm of Elon Musk. His repeated endorsements helped catapult DOGE to improbable heights during the 2021 bull market.

So, when Musk joined the Trump administration as head of the newly formed Department of Government Efficiency (DOGE) – a tongue-in-cheek nod to his favorite crypto – many in the Dogecoin community saw it as more than coincidence. It felt like validation, even a potential springboard for renewed momentum and serious gains.

Yet, that optimism quickly faded, and with Musk now acrimoniously out of the White House, the dream has deflated.

“The only way Dogecoin can increase in value is through hype, buzz, and speculation,” Basulto said. “It’s time to forget about Dogecoin.”

Basulto does admit that by being cheap and fun, the allure of DOGE is easy to understand. But in uncertain times such as these, it makes no sense investing in DOGE.

“At a time of maximum global macroeconomic uncertainty, the last thing smart investors want to be holding is a dog-themed meme coin with a funny name,” Basulto opined.

On the other hand, says the 5-star investor, XRP has “real utility.” “In other words,” he goes on to say, “you can actually use it for something of value.”

XRP is mainly used as a bridge currency, helping to streamline cross-border payments and convert one fiat currency – like the U.S. dollar – into another. These transactions take place on the XRP blockchain and are backed by Ripple Labs, a San Francisco tech firm that’s been operating since 2012. And adding to its appeal, major financial institutions have already adopted XRP’s blockchain technology as a faster and more cost-effective alternative to traditional methods of transferring money globally.

XRP is the smarter choice, then, says Basulto, especially since it’s still pretty affordable at just ~$2.3.

“If you are choosing between XRP and Dogecoin, this one’s a no-brainer,” Basulto sums up. (To watch Basulto’s track record, click here)

To find good crypto ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a tool that unites all of TipRanks’ equity insights.

Disclaimer: The opinions expressed in this article are solely those of the featured investor. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.