Here’s the scenario for Dogecoin and $DOGE

Three of the most well-known alternative currencies in the bitcoin sector are Dogecoin (DOGE), XRP, and Stellar (XLM). News regarding these currencies may have a substantial influence on their pricing. All three coins have seen considerable price fluctuation in recent months.

Dogecoin

A cryptocurrency known as Dogecoin was developed in 2013. The currency has a sizable and enthusiastic community, and influencers and celebrities often endorse it.

Due in large part to Elon Musk's advocacy, Dogecoin has received a lot of media attention recently. Musk often mentions Dogecoin in his tweets, and he has even said that he is thinking about using it to buy Tesla items.

The price of Dogecoin has increased as a result of the announcement that Elon Musk supports the cryptocurrency. Dogecoin hit an all-time high of $0.7376 in May 2021. The currency is now trading at around $0.065, however its value has subsequently dropped.

XRP

In 2012, Ripple launched the cryptocurrency XRP. XRP was created to be used for international payments, and some financial institutions are already using it.

Due in part to its current legal dispute with the US Securities and Exchange Commission (SEC), XRP has received a lot of media attention recently. According to the SEC, Ripple offered unregistered securities and that XRP is a security.

The SEC's action against Ripple might have a significant effect on the price of XRP, depending on how it turns out. It's likely that some cryptocurrency exchanges would remove XRP from their listings if Ripple loses the lawsuit. The coin's value would probably drop significantly as a result of this.

But if Ripple prevails in the lawsuit, it may be a significant triumph for XRP and the cryptocurrency sector. It may also cause the price of XRP to rise sharply.

Stellar

Jed McCaleb, one of the co-founders of Ripple, developed the cryptocurrency Stellar. As a derivative of Ripple, Stellar has many similarities to that platform.

Recently, Stellar has received a lot of media attention in part because of its affiliation with MoneyGram. Global money transfer provider MoneyGram uses Stellar to enable its international payments.

The alliance with MoneyGram is a significant endorsement of Stellar and is promoting the use of the currency. There's a good chance that Stellar's value will rise as it gains more users.

All three cryptocurrencies—Dogecoin, XRP, and Stellar—have the potential to see severe price volatility in the next months. Investors must keep updated since news regarding these currencies may have a significant influence on their pricing.

Before making an investment in any cryptocurrency, investors should carefully examine their risk appetite and investment objectives.