XRP (XRP +2.81%) and Dogecoin (DOGE +4.31%) are two of the most closely followed cryptocurrencies in the sector. Both are among the oldest, and both tokens also operate on their own networks.
XRP boasts a robust technical blockchain network that enables it to process up to 1,500 transactions per second (TPS). This makes it ideal for instant payment transfers, specifically from an international perspective. XRP is also closely tied to the crypto company Ripple, which utilizes the network and token to provide payment solutions to major banks and institutional investors.
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Dogecoin, on the other hand, is not strong from a technical perspective, but was one of the first tokens -- and even assets, if you will -- to go viral through social media. The cryptocurrency was launched as a joke, featuring a Shiba Inu dog as its mascot, and quickly gained traction, resulting in significant price appreciation over the years.
Both tokens have played vital roles in the burgeoning crypto sector, but which one is more likely to make you richer?
Real-world utility is important
While investing in cryptocurrencies is challenging, primarily because they don't generate earnings or free cash flow like traditional publicly traded companies, one thing crypto investors can look for is tokens that operate on networks with real-world utility.
CRYPTO: XRP
Key Data Points
In this regard, XRP surpasses Dogecoin due to its technical prowess and ties to Ripple, which is demonstrating progress in bridging the gap between traditional finance and cryptocurrency. Dogecoin's network may be able to incorporate more real-world utility in the future, but for now, I give the edge to XRP, which has the ability to become a viable solution for large institutions facilitating international payments.
That said, XRP has plenty of competition on its own and remains quite volatile, so investors may want to keep their positions smaller and more cautious.
