XRP Market Cap Now Surpassed BNB To Become The 5th Largest Coin

Key Points:

• XRP market cap has surged to $97.4 billion, surpassing Binance’s BNB, following a dramatic increase of nearly $60 billion in just two weeks.
• The cryptocurrency has gained over 226% in the past month, becoming the fifth-largest crypto asset, but still lags behind Solana in market cap rankings.

The price of the popular cryptocurrency, XRP, continues to surge, breaking new highs and is now valued above Binance’s BNB in market capitalization.

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XRP Market Cap Surpasses Binance’s BNB

XRP market cap has now changed hands at $97.4 billion, up in a very short period of time from $30 billion in just two weeks to roughly over $60 billion. With its remarkable growth rate, XRP market cap previously surpassed USDC and Dogecoin to claim the 6th position.

Despite the stellar increase, the XRP market cap now remains below SOL, which maintains the fourth position. The altcoin leads the race among nearly all counterparts, up over 226% in the past month. Though Bitcoin’s dominance is always supreme in the market, the returns on investment for early movers have been pretty healthy for XRP.

Key Factors Behind XRP’s Surge

The brilliant performance of the XRP market cap could be due to a number of factors. First among them is the end of Gary Gensler‘s tenure as Chairman of the U.S. Securities and Exchange Commission (SEC), creating investor optimism, along with rumours about the possible launch of Ripple’s own stablecoin.

However, market analysts warn that the rapid ascent of XRP market cap may be due to a short-term correction. At the time of writing, XRP changes hands at $1.71, its highest price since April 2021.