In May 2021, Tesla The host was CEO Elon Musk Saturday Night Live. While many tuned in like they do every Saturday evening, the crypto community watched with great interest, especially the owners of the meme token Dogecoin (DOGE -0.98%). Musk first tweeted about Dogecoin in 2019 and later revealed that it was one of three cryptocurrencies he owned.

These events culminated in a stunning rally for Dogecoin, sending the token up 5,890% in the first four to five months of 2021 XRP (XRP -3.87%) With the CEO of Ripple Labs, the company behind Let’s take a look.

Getting ready for CBS’ “60 Minutes.”

Few cryptocurrencies have benefited more from a Donald Trump victory than XRP. In 2020, the Securities and Exchange Commission sued Ripple Labs, the company behind XRP, as well as its CEO Brad Garlinghouse and co-founder Christian Larsen for allegedly selling XRP as an unregistered security in 2013. Many stakeholders followed the case closely because it could set a precedent as the SEC fights for more regulatory authority over many cryptocurrencies.

A judge ruled in favor of Ripple, but then the SEC appealed parts of the decision. However, SEC Chairman Gary Gensler, who has spearheaded many SEC crypto initiatives and lawsuits, announced he would step down once Trump takes office, which could lead to a quicker conclusion to the long-running legal affair.

After Trump’s victory, media outlets reported that Trump, a pro-cryptocurrency advocate, held a meeting with Garlinghouse, which drove up the price of XRP. Recently, on November 25, Garlinghouse said on X that he was interviewed by CBS. 60 minutes on a range of crypto topics for an episode airing soon. Many assumed the interview would air on December 1st, but that never happened. In any case, between November 27th and December 1st, the price of XRP rose by almost 39%.

By December 2nd, XRP was up over 63%, and by December 3rd, it was up over 93% since November 27th. Part of this movement seemed to be driven by potential 60 minutes Interview and might still get some inspiration from it since it is generally expected that the interview will happen at some point.

Meme tokens like Dogecoin seem to be attracting a lot of attention, leading to organic marketing. For example, Dogecoin typically rises when Musk tweets about the token to his over 206 million followers. 60 minutes is CBS’ highest-rated non-sports program on Sundays, reaching over 10 million viewers. It is believed that this type of exposure could attract new buyers, driving the price of XRP to new highs.

Is XRP more legitimate than Dogecoin?

Garlinghouse’s interview is still expected to air. It will be interesting to see how the price reacts, especially when the episode date is known. It could well be a “sell-the-news” event, similar to Dogecoin.

However, I think XRP has much more advantages than Dogecoin. Even after this impressive run, XRP has significantly underperformed Dogecoin over the past five years. The SEC lawsuit has served as an overhang, and XRP has many more potential use cases than Dogecoin, particularly for cross-border payments. XRP also has a limited supply, which could make it a better hedge against inflation. Additionally, there is an opportunity for spot XRP exchange-traded funds, which would help increase exposure to the token.

It is difficult to predict how long the crypto rally will last because cryptocurrencies have no intrinsic value and it is difficult to time market sentiment. However, given its underperformance in recent years, XRP could still have a long run ahead of it as long as the rally continues. Trading is likely to be volatile. So only invest as much as you can afford to lose.