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Crypto: BNB and XRP in a Tight Competition!

Wed 08 Nov 2023 ▪ 3 min of reading ▪ by Mikaia A.
Getting informed Altcoins

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!

Photos of bull, crowd, sun and podium, XRP logo

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.

This surge has enabled Arthur Britto, co-founder of the blockchain payments company, to project an All-Time High (ATH) of $10,000 for this digital asset, attracting interest from the BRICS.

XRP Climbs the Ranks Step by Step

According to CoinDesk, XRP surged by 10% in the last 24 hours, but that’s not all! This crypto coin has also excelled in terms of trading volumes, reaching $2 billion in transactions. Evidently, the $1 billion recorded last Sunday doubled in just one day.

With such statistics, XRP has taken BNB’s place as the 4th most significant cryptocurrency in terms of market cap.

However, a quick check on CoinGecko revealed that things seem to have returned to normal. Although XRP continues to trade at $0.69, Binance’s native crypto has reclaimed its former position. It’s worth noting that XRP is far from the 50% surge displayed by Solana’s SOL. But with gains of +26.3% in 14 days and 32% in a month, Ripple’s token asserts itself as a significantly important asset.

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.

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Mikaia A. avatar
Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.