XRP tops dogecoin all-time returns after its second-biggest pump ever

XRP just pumped harder than it has ever pumped before — bar one day six years ago


WhiteBarbie/Shutterstock modified by Blockworks


XRP lit up after a US district court threw Ripple Labs a bone by ruling sales of the token on crypto exchanges were not securities.

Markets pumped XRP up to 96% on the news, jumping from $0.47387 to $0.927 in under three hours. It has since retraced around 25% from local highs.

Still, Thursday’s pump was XRP’s second-biggest intraday rally in its 10-year history. It clocked in second only to a 216% surge in April 2017 and ahead of a 92% jump in December of that year at the height of that bull market. 

XRP’s all-time rally record coincided with word spreading that Japan’s largest bank, MUFG, had joined an interbank working group meant to propel adoption of Ripple payment rails.

  • XRP was worth a cumulative $500 million then (bitcoin was $16.6 billion).
  • Crypto’s overall capitalization sat below $30 billion. 
  • Total market is now $1.25 trillion, after more than 4,000% growth in six years.
A big purple column means a big price rally

XRP is still down 75% since its all-time high. But markets are far larger with deeper liquidity today than they were back in 2017, which makes significant one-day rallies much more elusive.

Exactly how special was the XRP pump?

Blockworks analyzed daily data for XRP, bitcoin (BTC), ether (ETH), binance coin (BNB) and dogecoin (DOGE) to see how Ripple’s recent pump really stacked up.

Turns out, yesterday’s XRP pump came in the 15th spot. Dogecoin holds the top two spots: a 358% surge in December 2013 and a 344% showing in January 2021, when billionaires Elon Musk and Mark Cuban regularly tweeted about DOGE.

Dogecoin represents almost half of the top 20 intraday pumps to bitcoin’s seven. BTC exploded 241% in July 2010 — slightly ahead of XRP’s number-one rally. BNB only features once.

That’s still more than ether. ETH’s biggest intraday pump on record was only 49%, in August 2015, when it swam from $1.26 to $1.88. 

Ether’s all-time rally finds itself in 39th place overall.

Almost the whole board is bitcoin and dogecoin

Of course, these figures suffer from a certain amount of time bias. Crypto markets are always online, unlike the stock market which has defined trading hours. 

Defined hours render intraday analysis more relevant. For this analysis, midnight UTC signaled the end and beginning of trading periods. 

There also may be larger pumps on certain exchanges not reflected in these results.

Same-day pumps are fun, but what really matters is returns over the long haul. Bitcoin has trumped them all with up to 80 million percent gains since 2009.

XRP and dogecoin, as it turns out, have returned practically the same across their entire history — with XRP eclipsing DOGE with more than 12,600% returns after this week’s rally.

Switch to log view to see XRP eclipsing dogecoin’s all-time returns

Updated Jul. 15, 2023 at 3:06 am ET: Year of ETH’s biggest pump.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Screenshot 2024-05-23 091855.png


Bitcoin L2s aim to boost scalability while preserving decentralization and security, unlocking a better user experience, and new avenues for Bitcoin-powered innovations. However, no existing Bitcoin L2 leverages the full security of Bitcoin.



The convergence of AI and blockchain on Polkadot represents a groundbreaking opportunity for investors and developers alike


The company is making public a previously private offer rejected by Bitfarms’ board of directors last month


Semler Scientific, a publicly traded medical tech company, joined MicroStrategy by buying up millions of bitcoin


As someone who’s been knee-deep in the trenches of blockchain development, I can’t help but wonder if these behemoths are really cutting it anymore


UNI and MKR are suffering from the successes of their respective protocols


Maybe there’s no silver bullet to avoiding most tokens dumping after launch…