The BNB market cap has exceeded $180 billion, surpassing both Tether (USDT) and XRP. But the question remains: Can BNB maintain its dominance?
Summary:
- BNB’s market cap has overtaken XRP and USDT.
- Binance Coin hit an all-time high of $1,336.57 on the same day.
- The race for altcoin dominance is still ongoing.
In a significant shift in the cryptocurrency rankings, BNB has surpassed XRP in market cap. On October 7, BNB reached an all-time high of $1,336.57, positioning itself as the third-largest cryptocurrency, ahead of both XRP and Tether (USDT).
As BNB started to surpass XRP, market momentum shifted for both coins. BNB saw a 5.35% daily gain, while XRP dropped by 4.59%. At its peak, BNB’s market cap hit $185 billion before stabilizing at $180 billion, putting it ahead of XRP’s market cap, which stood at $173 billion.
Now, traders are questioning whether this shift will hold or if the recent rally in BNB is a short-term surge driven by speculation.
Will BNB’s Market Cap Surpass XRP in the Long Term?
BNB’s recent rally has strong support, backed by positive on-chain metrics and price chart trends. In recent days, BNB has consistently held above the $1,200 support level and key moving averages, indicating that buyers are still in control.
On the other hand, XRP has struggled to break the critical $3 resistance level. For XRP to surpass BNB again, it would need a significant bullish push. However, some analysts believe that XRP still has potential to recover if it can reverse its recent downward trend.
Nevertheless, there is a possibility of a minor correction for BNB. While many indicators suggest a bullish trend, the Relative Strength Index (RSI) at 77.38 signals that the asset may be slightly overbought, indicating the potential for a pullback.
