XRP Inches Closer to Overtaking BNB as Market Cap Gap Narrows to $3B

XRP, the sixth-largest digital asset by market capitalization, has surged 76.29% over the past week, inching closer to overtaking Binance's BNB token

XRP, the sixth-largest cryptocurrency by market capitalization, has surged over 76% in the past week, inching closer to overtaking Binance’s BNB token, which currently holds fifth place.

While XRP's rally has been impressive, BNB has gained only 3.02% over the same period, underperforming during the market's upward movement.

Data from CoinMarketCap shows XRP rose 13.61% in the last 24 hours, trading at $1.56 at the time of writing. Although the token still trades 59.14% below its all-time high of $3.84, set in January 2018, XRP reached its highest price since April 2021 at $1.62 earlier this week. If current momentum continues, XRP could soon break through the $2 level.

BNB, meanwhile, trades at $641.62, up 0.84% in the last 24 hours and 8.75% over the past month. However, it remains 10.95% below its all-time high of $720.67, recorded in June. Recently, BNB lost its fourth-place spot in market capitalization to SOL, the native token of the Solana blockchain.

XRP's market cap stands at $89 billion, close to overtaking BNB's $92.45 billion. The $3 billion gap could close if XRP sustains its inflow of capital, with a potential to cross the $100 billion valuation in the near future.

TradingView charts indicate the Relative Strength Index (RSI) for XRP is at 91.34, signaling an overbought condition and suggesting a possible short-term correction. However, the chart's upward trend suggests XRP could push past $2, provided the broader cryptocurrency market maintains its bullish trajectory.

While buying demand has slightly tapered off, XRP remains positioned for potential gains, fueled by strong momentum and ongoing interest from investors.