XRP Surpasses Binance Coin to Become Fourth Largest Cryptocurrency
Ripple’s native token, XRP, has overtaken Binance Coin (BNB) to become the fourth largest cryptocurrency by market capitalization. XRP’s price has spiked to $0.71, reaching a market cap of about $37.8 billion.
Bitcoin, Ethereum, and Tether Remain Top Three
The top three positions in terms of market capitalization are still held by Bitcoin, Ethereum, and Tether. Bitcoin is approaching a $700 billion market cap, while Tether has reached a record high market cap of over $85 billion.
Ripple’s Legal Victories Boost XRP’s Price
XRP’s recent price rally can be attributed in part to Ripple’s legal victories against the US Securities and Exchange Commission (SEC). Experts suggest that if Ripple wins the trial next year, it could lead to a further rally for XRP.
Ripple’s native token – XRP – has surpassed Binance Coin (BNB) and became the fourth largest cryptocurrency (in terms of market capitalization). The former has spiked to a fresh three-month high of $0.71 (per CoinGecko), registering a 12% increase on a daily basis.
Its market cap has soared to approximately $37.8 billion (as of the moment of writing these lines), whereas BNB is fifth with less with $37.7 billion.
The top three positions seem reserved for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). The market cap of the leading digital asset is inching closer to $700 billion, whereas its closest rival has recorded around $227 billion.
As reported earlier today, the largest stablecoin – USDT – set a new all-time high of over $85 billion.
One major reason behind XRP’s impressive rally in the past few weeks could be the developments surrounding the lawsuit between the blockchain enterprise and the US Securities and Exchange Commission.
Ripple appears to have the upper hand after securing three partial court victories against the regulator. Multiple experts believe a decisive win for the crypto firm in the trial next year could trigger an additional XRP rally.
Those curious to see how the asset might perform in the last quarter of 2023 could take a look at the video below:
Hot Take: XRP’s Rise Reflects Ripple’s Legal Victories
XRP’s surge to become the fourth largest cryptocurrency highlights Ripple’s recent legal successes against the SEC. With experts suggesting that a victory in next year’s trial could lead to further gains, XRP’s rally may not be over yet.
By
By
By
By
By