XRP drops to 7th in market cap as Binance Coin (BNB) surges
Ripple (XRP) has fallen to 7th place by the surging Binance Coin (BNB), whose market cap stands above $29.6 billion
Binance Coin dethroned XRP yesterday after seeing a terrific upward momentum that started on Tuesday and has moved past Cardano and Polkadot in the last couple of hours. The coin is currently trading at $189.92 – up 45.47% in the last 24 hours.
The price figure represents a whopping 57% seven-day change, as its market cap has shot up by over 48% from $20 billion at the start of the week. This surge means the token is now among the top 5 cryptocurrencies, having first made its way into the top 10 two years ago.
XRP has managed to stay above the threshold and take a place among the large-caps. Year-to-date figures show it has gained over 360%. Binance Coin set a record high of $175 yesterday and eclipsed it today after hitting a new ATH of $191.
XRP, on the other hand, has rallied by 2.14% in the last 24 hours and is changing hands at $0.539. With a $24.7 billion market cap, it sits below Binance Coin, Polkadot and Cardano. The last time XRP dropped this far was back in June 2014. It had barely been around for three years at the time when it plunged below the meme crypto Dogecoin.
Both have come a long way since. The latter enjoyed a positive run at the start of the month after garnering a lot of attention from celebrities on social media. Elsewhere, Ethereum is gearing up for the much-anticipated $2,000 price figure. The crypto set a new all-time above $1,900 and is now relentlessly chasing the next milestone. The latest rally has now driven the top 10 crypto coins’ combined market cap up to around $1.4 trillion.
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Sam Grant, @KhareemSudlow