XRP Overtakes BNB in Stunning Market Rally

Highlights:

• XRP has finally overtaken BNB in cryptocurrencies ranking after spiking by over 10% in the past 24 hours.
• XRP is changing hands at about $1.7 with roughly $96.67 billion in market capitalization.
• With Trump’s victory, chances abound that Ripple’s lawsuit with the SEC might conclude soon, which invariably implies more potential for price upswings.

Ripple’s dedicated token, XRP, has taken holders and the crypto community on a wild run characterized by an incredible price surge. According to CoinGecko’s crypto rankings, the token has displaced Binance’s BNB to rank as the fifth most valuable cryptocurrency.

🚨 $XRP flipped $BNB to become the 5th largest cryptocurrency by market cap. pic.twitter.com/lj7272qhfI

— CoinGecko (@coingecko) November 29, 2024

Notedly, the past 24 hours saw XRP skyrocket by about 15% with about $1.7 in selling price. Following the remarkable price rally, XRP’s market capitalization spiked to about $96.67 billion, overtaking BNB’s $95.88 billion. While the gap might seem meager, it is worth noting that XRP does not appear to end its newly found market run anytime soon.

Aside from its 24-hour-to-date price change variable experiencing a significant upswing, other extended-period data displayed a similar trend. For context, XRP’s 7-day-to-date, 14-day-to-date, and month-to-date variables displayed upswings of about 15%, 92.7%, and 225.3%, respectively.

Meanwhile, XRP’s 24-hour trading volume is up by about 124.84%, highlighting an incredibly active network with a $12.99 billion valuation. On the other hand, BNB’s past 24-hour price change statistics displayed a meager 1.1% upswing with about $654.59 in selling price.

Unlike XRP, BNB’s other extended period data seemed insignificant relative to Ripple’s dedicated coin. They reflected 4.6%, 6.8%, and 9.4% upswings in weekly, biweekly, and monthly price change variables, respectively.

XRP’s Exponential Ascent

After several months of trading below $1 and even merely sustaining levels around the $0.5 level, XRP finally broke above $1 shortly after Donald Trump emerged as the United States president-elect.

Since then, the token has maintained an upward trajectory. On its path to attaining its current status as the fifth most valuable cryptocurrency, XRP displaced some tokens before its recent feat that surpassed BNB’s valuation.

For context, XRP exceeded the market caps of Dogecoin (DOGE) and USDC at some point during its recently established market rally. After clinching the fifth spot, XRP’s next target might probably gear towards displacing Solana (SOL). However, attaining such a feat might seem tricky, considering that Solana has established itself as one the best performers of the current bull phase.

At the time of writing, SOL is changing hands at about $240.56, boasting roughly $114.16 billion in market capitalization. Equalizing SOL’s market capitalization implies that XRP must exceed $2.

Well, #BNB is down. #XRP is doing his thing.

Next? pic.twitter.com/CiOLkhlFRu

— Dark Defender (@DefendDark) November 29, 2024

Ripple CEO Asserts that the SEC Subdued XRP’s Expansion

In an interview, Ripple CEO Brad Garlinghouse revealed that XRP is on track to retain its previous status before the United States Securities and Exchange Commission (SEC) involvement in crypto. According to him, XRP was arguably the most-priced cryptocurrency before the lawsuit saga that emerged in late 2020.

He accused the US regulatory watchdog of allowing a safe playing ground for Ethereum’s (ETH) expansion while subduing XRP’s growth. With Trump’s victory, the crypto community would anticipate a paradigm digital assets regulation shift. Hence, one could assert that the SEC’s litigation against Ripple would probably end with the outgoing administration.

Aside from the SEC’s negative impact on XRP’s price expansion, Ripple has been working on significant upgrades, targeting the XRP Ledger (XRPL). The enhancements on the XRPL will introduce liquidity while attracting institutional investors, especially those in the Decentralized Finance (DeFi) sector.

🚨; Brad Garlinghouse Asserts: #XRP Will Regain Its Position as the Second Most Valuable Asset After Ethereum.

Ripple is gearing up for major upgrades to the XRP Ledger, designed to enhance liquidity and draw in institutional investors. This increase in activity could direct… pic.twitter.com/SsqrgPiEfn

— Brett (@Brett_Crypto_X) November 29, 2024