Up until now, Ripple’s cryptocurrency has struggled to regain its January 2018 levels, during which it was trading at $3.40. Nevertheless, its recent performances have not failed to impress observers. Should we expect an XRP bull run like other major cryptocurrencies? Time will t...
Up until now, Ripple’s cryptocurrency has struggled to regain its January 2018 levels, during which it was trading at $3.40. Nevertheless, its recent performances have not failed to impress observers. Should we expect an XRP bull run like other major cryptocurrencies? Time will tell. Let’s delve into the details!
XRP Shatters Records Again
Our analysis on November 1 highlighted a 13% surge in XRP’s price in just three days. This isn’t surprising given that Ripple’s cryptocurrency has been on an upward trajectory since January 2023.
With such statistics, XRP has taken BNB’s place as the 4th most significant cryptocurrency in terms of market cap.
BNB, Still in a Bind?
Like most cryptocurrencies, Binance Coin also experienced glory in 2021. Twice, BNB surpassed the $630 mark in a single year. However, volatility took its toll on this crypto.
Its current price is well below half of these records: $250 per coin.
Additionally, there’s an issue between BinanceUS and the SEC, resulting in legal actions in June and a downfall for BNB. Indeed, since June, Binance’s native crypto hasn’t revisited the $300 mark.
Even a month after the American regulator’s attack, BNB modestly showed a valuation of $240.309. Last September, nothing changed: Binance’s crypto decided to stabilize in a range between $212 and $207, signifying a move towards high liquidity.
XRP’s victory might have been brief in these 24 hours. However, with widespread institutional adoption of the cryptocurrency, BNB could permanently lose its ranking.