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As the price of popular cryptocurrency XRP continues its relentless rise, smashing one high after another, it finally reached the $1.50 point today, where holders decided to unload some of their holdings, triggering a cascade of liquidations and dragging the price down 9.88% to $1.35 in just one hour.
However, the bullish bias is still the strongest for XRP and the asset was quickly rebought, rocketing to $1.44 per coin.
Gamza KhanzadaevNow, the market capitalization of this crypto market old-timer is still strong at $82 billion. Just think, less than two weeks ago this indicator stood at $30 billion, then fast forward 13 days and XRP boasts a market cap of almost $50 billion more.
This sudden, rapid, breathtaking price surge has not only community members but also broader crypto market participants wondering: is XRP ready to go higher in the market rankings and overturn Binance Coin (BNB)? Many prominent voices of the crypto and XRP community see such a "flippening" happening.
As of now, XRP stands as the sixth largest cryptocurrency, while fifth place is occupied by BNB with a market cap of $89.7 billion. But while the former has gained 187.4% in recent weeks, the latter has lagged behind with a mere 7.9% gain in November.
From where we are standing, XRP is only $9 billion away from surpassing BNB. In the language of percentages and prices, this means that the price of XRP needs to score another 7.8% surge, or make it to $1.57, if Binance Coin does not surge as well.
Who knew that by the end of 2024 we would be discussing XRP becoming the fourth largest crypto asset, excluding the stablecoin USDT. XRP has put on a truly remarkable performance this year.
Valeria Blokhina
Godfrey Benjamin
Vladislav Sopov
Dan Burgin