XRP has finally surpassed Binance Coin (BNB) in market cap to become the fifth largest crypto asset, as it surges to a new 3-year peak.
The recent milestone came on the back of the ongoing market-wide rebound campaign, which has seen XRP recover its losses over the past few days. Recall that XRP witnessed a steep decline after soaring to a three-year peak of $1.63 on Nov. 23.
XRP Leads Recovery Charge, Overtakes BNB
However, amid the ongoing market recovery, the altcoin appears to be rebounding better than other assets. CoinMarketCap data confirms it has spiked 16.76% over the past 24 hours and by a more substantial 20.55% in the last week, making it the biggest gainer among the top 10 assets.
As a result of its sharper uptrend, XRP’s market cap soared beyond the $94 billion mark, allowing it to officially overtake BNB in valuation. This pushed XRP to the fifth position among the largest crypto assets in the market. The feat comes weeks after the altcoin surpassed USDC and Dogecoin (DOGE) to become the sixth-largest crypto asset.
XRP Surpasses BNB, XRP Now 5th biggest crypto of World. pic.twitter.com/OZfR1Ra4K2
— TheCryptoBasic (@thecryptobasic) November 29, 2024
At press time, XRP now boasts a market cap of $96.79 billion, outranking BNB with a $94.76 billion in valuation. XRP has also commanded one of the largest volumes in the market over the past 24 hours, with $10.43 billion in volume, making it the top four traded asset in the crypto market.
The recent valuation milestone comes as XRP finally surpasses the $1.63 resistance it faced previously on Nov. 23. Notably, after breaching this level today, XRP has since pushed to greater heights, currently trading for $1.70 at press time, a new three-year peak.
Next XRP Resistance and Support Levels to Watch
XRP now aims to surpass Solana, which currently has a market cap of $115 billion amid a 4.73% weekly drop. For XRP to reach this valuation, the altcoin must breach the 2021 resistance of $1.96 and clear the $2 level, reaching a 7-year peak.
Market analyst Dark Defender, who had previously stressed the importance of the $1.63 resistance, confirmed today that XRP now has its eyes set on greater heights. In an updated report, he confirmed that XRP now targets the $1.88 price, which would require an additional 10% rise from the current level.
Hey there, friends. I hope all is well with you.$XRP broke one of the critical resistances, $1.44, which we expected him to do, and we also expected a retest of $1.63 yesterday.
We said that after $1.63, XRP is expected to touch one of the main Fibonacci Levels, which is… pic.twitter.com/fLd4f25V2u
— Dark Defender (@DefendDark) November 29, 2024
Once this $1.88 region gives way, the analyst sets two more targets at $3.41 (around the all-time high) and $11.32. XRP must rally by 100% to claim the $3.41 target and a more substantial 565% to reach the loftier $11.32 region. The altcoin is already up 231% this month.
Dark Defender also called attention to previous targets he set at $5.85 and $18.22. However, to reach these levels, XRP must first breach the 2021 peak of $1.96 and reclaim the $2 psychological level. If a pullback occurs, Dark Defender expects support to range from $1.44 to $1.03.
Veteran trader Peter Brandt had identified the $1.96 resistance in a previous analysis. Interestingly, Tunc Satiroglu, another market veteran, also noted today that XRP could face resistance at $1.95 from here. However, he stressed that a drop below $1.50 could be bearish.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
