Morning Cryptocurrency Report: Will XRP Replace Ethereum in 2026? Dogecoin Price Abnormally Hits $0 as Bears Disappear; Cardano "New ADA" Trading Volume Surges by 157.6%.

The cryptocurrency trading day on Wednesday has just begun, and the charts already show a clear downward trend. Bitcoin, after once again breaking through the $90,000 mark, is now trading near $86,600; Ethereum has fallen below $2,930, with a significant weekly decline; XRP, after weeks of selling pressure, is currently weak, trading below $2. Market sentiment is cautious, with extreme fear enveloping the cryptocurrency market.

Liquidation data confirms this. In the past 24 hours, total liquidations exceeded $205 million, with long positions suffering the most. Longs were liquidated for over $104 million, while shorts accounted for about $101 million. Short-term data shows the same trend. In one hour, liquidations reached nearly $7 million, almost all from long positions.

Is this panic selling or a clearing of crowded positions?

Too Long; Didn't Read

• XRP makes a wild prediction against Ethereum's performance in 2026.
• Dogecoin shows a strange $0 liquidation signal, indicating sellers are out of funds.
• Cardano's "new ADA" token trading activity surges by 157.6%.

XRP to Surpass Ethereum in 2026: This Bold Prediction Shakes Up Weak Charts

The loudest statement of the day comes from Jin Yongxun, who claims to have the highest IQ in the world. According to his latest post, by 2026, XRP's market cap could surpass ETH.

Based on current data, Ethereum's total market cap leads XRP by about $23.75 billion. Under current supply conditions, for XRP to turn the tables, it would need to add this market cap gap to its existing market cap, bringing it close to $35.2 billion to $36 billion.

Currently, XRP is trading near $1.90, which means, assuming the circulating supply remains unchanged, its price would need to rise about 310% from current levels. In short, XRP would need to trade between $5.80 and $6 to reach Ethereum's current scale.

This mathematical principle also applies to two scenarios. If Ethereum's market cap shrinks while XRP's expands, the required XRP price would drop significantly. For example:

• If ETH falls to $30 billion, XRP's price would need to be around $4.90 to $5.10.
• If ETH's price remains stable and only XRP rises, the price burden would remain around $6.

However, the timing of this prediction is rather awkward. XRP is not currently leading the market. On a weekly basis, XRP is down about 8.6%, while Ethereum is down more than 12%. Although XRP's decline is smaller, it has not shown strong performance. Both assets currently appear heavy.

The comparative chart of XRP/USDT and ETH/USDT clearly shows this. Both peaked in the summer but failed to hold their highs and continued to decline through December. XRP briefly outperformed Ethereum mid-year, then fell back to the same level as Ethereum. By mid-December, both had fallen into negative territory.

So, why is this prediction important? The bet here is not on a price rebound. But the statement itself indicates that the discussion around XRP has changed. The question is no longer about survival, but about replacement. Even if traders disagree, this alone is enough to change their perception of risk.

Dogecoin Bear Market Disappears: The $0 That Shouldn't Exist

Dogecoin provided the strangest data point of the day, and it had nothing to do with price.

On the liquidation heatmap at CoinGlass, Dogecoin (DOGE) showed an anomaly: during the observation period, long liquidations were about $151,950, while short liquidations were exactly $0. Not close to zero, but exactly zero.

This is significant because Dogecoin's price chart does not look optimistic. Meanwhile, Dogecoin (DOGE), after months of decline, is now trading near $0.13. Since September, the price has fallen from around $0.30, experiencing multiple failed rebounds and strong sell-offs. From the daily chart, you can see the price keeps dropping, with weak rebounds and no clear signs of reversal. However, derivatives data shows that sellers have exited.

When short liquidations disappear completely, it usually means one thing: shorts no longer see shorting as profitable. Either everyone who wanted to short has already done so, or the risk of shorting now is too high. In either case, further declines become much more difficult.

This does not mean Dogecoin is about to rebound, but it does mean the market balance has changed. Since shorts no longer need to cover, any further decline must come from spot selling. Given that longs have already been liquidated on major pairs, this changes the current situation.

"New Cardano" Trading Activity Surges 157.6%

While large tech companies are struggling, the Cardano ecosystem is thriving.

The NIGHT token, known as Cardano's "new ADA, but privacy-focused", saw its volume-to-market cap ratio reach 157.6% in the past 24 hours, according to statistics from CoinMarketCap. Its trading volume reached $1.58 billion, with a market cap close to $1.02 billion—indicating high trading activity, not passive holding.

The price action matches this. NIGHT is currently trading near $0.061, up more than 7% this week, after a period of volatile but controlled range trading. The chart shows a surge followed by a sharp pullback, with trading continuing above the mid-range. There are now over 6,000 holders, with a circulating supply close to 16.6 billion tokens and a total supply of 24 billion.

Although ADA itself has been lackluster, the above activity continues. However, thanks to the launch of Midnight, funds have not flowed out of Cardano but have instead flowed in. Whether this short-term success will shift market focus back to Cardano as a major asset, especially after trading volume shifted from ADA, is certainly worth watching closely.

Cryptocurrency Market Outlook

The market has neither crashed nor recovered, but is stuck between weak price structures and noisy narratives. Prices are under pressure, leverage is gradually disappearing, and attention is shifting from trends to various stories. Until one side prevails, market volatility remains dangerous and costly.

• Bitcoin (BTC): After breaking through $90,000, Bitcoin's price was blocked again, falling to $86,600. As long as Bitcoin remains below $90,000, upward attempts will remain fragile and rebounds will continue to face selling pressure.
• Ethereum (ETH): Fell again to $2,930, down more than 12% this week, making it still difficult to gain upward momentum and needing to break $3,000 to stop the decline.
• XRP: Although the XRP ETF has surpassed the $1 billion mark, its price remains weak, falling below $2 and down about 8.6% this week.
• Dogecoin (DOGE): After months of decline, the price is near $0.13 and remains weak, but short liquidations are at $0, indicating shorts are retreating.
• Cardano Night: Around $0.061, up 7% this week, indicating that despite ADA's weakness, speculative demand remains strong.