How XRP will play a role in Dogecoin price reaching $3-$5 in 2025

Despite its notable gains this year, Dogecoin price has increased not yet broken through its all-time high in 2021, but analysts remain bullish. Interestingly, recent analysis by crypto analysts has done so compared the Dogecoin price The action is similar to that of the XRP price rally, with the general consensus expecting both cryptocurrencies to reach new all-time highs in the coming months. A notable observation from crypto analyst ProfessorAstrones has added further excitement to this discussion as he links XRP’s market moves to an increase in Dogecoin price.

Dogecoin’s price action reflects XRP’s rally momentum

Professor Astrones, a pseudonymous crypto analyst, shared his perspective on social media platform According to DOGEUSDT’s 4-hour chart that accompanied his analysis, Dogecoin’s current price action is defined by a narrowing range consisting of a descending trendline and an ascending trendline. Interestingly, this chart structure resembles the flag of a bullish pennant, which often indicates that an upward breakout is imminent.

In his opinion, Dogecoin price is still on track to reach a closer target of $1 by 2025 and long-term goals of $3 and $5. All of these are bullish targets and even reaching $1 would require a break above the current overall level. Time high $0.7316. Interestingly, his Dogecoin price outlook is also based on a predicted rotation of liquidity in the crypto market.

Specifically, he predicted a scenario in which capital that fueled XRP’s price rise will eventually flow into Dogecoin. “$XRP money will flow into $DOGE” said the analyst.

Basically, this means that when XRP investors start taking profits, they may focus on Dogecoin, which, like XRP, is one of them most popular cryptocurrencies among private investors.

Interestingly, this outlook of money rotation between XRP and Dogecoin is supported by other crypto analysts. One such voice is @CryptoGodJohn, who expressed a similar view on the social media platform

Parallels between Dogecoin and XRP charts

Jacob Canfield, another popular crypto analyst, shared his thoughts on the price similarities between Dogecoin and XRP, highlighting the classic trading structure of both assets. He noted that Dogecoin price has formed higher lows while successfully turning previous resistance levels into support. similar to XRP in the lower time frames.

At the time of writing, Dogecoin is trading at $0.441 and is up 5% in the last 24 hours. XRP, on the other hand, is currently trading at 2.37 after falling around 10% in the last 24 hours. It remains to be seen whether there will be a liquidity rotation between XRP and Dogecoin in the current bull cycle.

Featured image created with Dall.E, chart from Tradingview.com