$XRP Soars 20%, Overtakes $BNB as Fifth-Ranked Cryptocurrency
XRP has made waves with a remarkable surge of over 20% on Friday, outshining major cryptocurrencies like Bitcoin, Ethereum, and Solana. This impressive increase has vaulted XRP to the position of the fifth-largest cryptocurrency by market capitalization, now exceeding $107 billion.
Currently, XRP is trading at $1.87, marking an astonishing 99% rise over the past two weeks. This surge enabled XRP to surpass Binance Coin (BNB) in market capitalization, heralding a revival of investor interest.
The recent rally signals a pivotal turnaround for XRP, which had been trapped in a range between $0.30 and $0.60 for almost three years. This period of stagnation is largely attributed to the conclusion of the 2021 bull market and ongoing legal challenges faced by Ripple Labs from the US Securities and Exchange Commission (SEC).
The SEC's classification of XRP as an "unregistered security" has sown substantial uncertainty among investors, particularly within the US, affecting the token's market performance. However, recent political shifts in the United States have renewed confidence among cryptocurrency investors.
The 4-hour chart reveals a fresh market framework for XRP, with expectations that it will reach $2.13 before any potential pullback. Newly identified resistance levels are set at $4.11 and $6.42 within this period, aligning with the primary goal of $5.85 following an anticipated advance beyond $1.88.
