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In the cryptocurrency market-cap rankings, XRP is once again close to Binance Coin (BNB), with about $10 billion separating the two assets. According to recent market data, XRP's capitalization is roughly $85 billion, while BNB's is about $95 billion, though the precise difference varies constantly with prices. As a result, XRP is now between 10% and 12% behind its bigger competitor.
The gap is narrowing
The gap has already shown how rapidly it can shrink. On September 6, XRP was valued at $89.3 billion, while BNB was worth about $100.2 billion. When XRP was relatively strong earlier in September, the difference had dropped to about $5 billion. The underlying network data of XRP offers some support for a second attempt.
The volume of payments rose by 26% to 462.9 million XRP, while payments increased by 33.8% to roughly 827,800. Additionally, there was an 8.8% increase in new accounts and a 1.3% increase in active accounts. There is a significant rebuttal. Successful transactions decreased 37.5%, active users decreased 22.4%, and total transactions decreased 29.1% to 1.8 million.
Activity of XRP isn't stale
As a result, the network is handling significantly more payment activity without witnessing widespread growth in all activity metrics. Cost is still the deciding factor. After rising from an intraday low of about $1.315, XRP is now trading close to $1.36.
The token is currently trading around a significant long-term moving average at $1.355, with further dynamic support at $1.336. Additionally, momentum is practically neutral when the RSI is close to 53. If supply stays mostly unchanged, every $0.10 increase in XRP adds roughly $6.27 billion to its market capitalization, using the approximately 62.74 billion XRP currently in circulation.
Accordingly, if BNB's capitalization stayed constant, XRP would require an additional $0.15–$0.17 per token to eliminate a $10 billion valuation deficit. The catch is in that assumption.
It is not enough for XRP to just rise; it must surpass BNB. While concurrent BNB appreciation would raise the target, a recovery through $1.45 and toward the August $1.50–$1.55 region could make the market-cap contest extremely close.
Dan Burgin
U.Today Editorial Team
