XRP Nears $2 After 76% Rally, Units Sights on BNB’s Market Cap Spot

• XRP’s 76% surge positions it to overhaul Binance’s BNB, narrowing the market cap hole to simply $3 billion.
• XRP’s value hit $1.56, nearing the $2 mark, with technical indicators suggesting potential to surpass $100 billion valuation quickly.
• BNB lags with solely 3% weekly progress, sustaining its market cap lead however dealing with stiff competitors from XRP’s bullish momentum.

XRP, the sixth-largest digital asset by market capitalization, has surged 76.29% over the previous week, inching nearer to overtaking Binance’s BNB token, which presently holds fifth place. Whereas XRP’s rally has been spectacular, BNB has gained solely 3.02% over the identical interval, underperforming through the market’s upward motion.

Knowledge from CoinMarketCap exhibits XRP rose 13.61% within the final 24 hours, buying and selling at $1.56 on the time of writing. Though the token stays 59.14% beneath its all-time excessive of $3.84 set in January 2018, XRP reached its highest value since April 2021 at $1.62 earlier this week. If present momentum continues, XRP might quickly break by means of the $2 degree.

BNB, in the meantime, trades at $641.62, up 0.84% within the final 24 hours and eight.75% over the previous month. Nevertheless, it stays 10.95% beneath its all-time excessive of $720.67 recorded in June. Just lately, BNB misplaced its fourth-place spot in market capitalization to SOL, the native token of the Solana blockchain.

XRP’s market cap stands at $89 billion, near overtaking BNB’s $92.45 billion. The $3 billion hole might shut if XRP sustains its influx of capital, with a possible to surpass the $100 billion valuation within the close to future.

XRP Value Evaluation: $2 in Sight?

TradingView charts point out the Relative Power Index (RSI) for XRP is at 91.34, signaling an overbought situation and suggesting a doable short-term correction. Nevertheless, the chart’s upward pattern suggests XRP might push previous $2, offered the broader cryptocurrency market maintains its bullish trajectory.

Learn additionally: XRP Reaches $1.50 for the First Time Since 2021, Eyes BNB and Solana Flip

Whereas shopping for demand has barely tapered off, XRP stays positioned for potential good points, fueled by robust momentum and ongoing curiosity from traders.