XRP on the Brink of Surpassing Coin in Market Cap Race

<div><img width="1000" height="665" src="https://www.financebrokerage.com/wp-content/uploads/2021/08/shutterstock_1306247041.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Why Is XRP Rising Again?" decoding="async" loading="lazy" /></div><h1><strong>XRP on the Brink of Surpassing Binance Coin in Market Cap Race</strong></h1>
<p>In the dynamic world of cryptocurrencies, XRP and Binance Coin (BNB) stand as two of the market’s titans, yet their paths are diverging significantly. A mere $2 billion gap now separates their market capitalizations, with BNB at $35.7 billion and XRP close behind at $33.2 billion. This narrowing margin positions XRP within striking distance of overtaking BNB, needing only an 8% price surge to do so.</p>
<p>Contrasting their current standings, the start of the year saw BNB’s market cap more than double that of <a href="https://www.financebrokerage.com/how-to-stake-xrp/">XRP</a>. This gap has significantly closed following recent developments, including <a href="https://www.financebrokerage.com/binance-ceo-admits-to-money-laundering-in-historic-case/">Changpeng Zhao</a>‘s departure as CEO of Binance. XRP had a momentary lead over BNB in July, triggered by a U.S. federal court decision favoring Ripple, spiking its price by 75% and elevating it to the fourth-largest cryptocurrency.</p>
<p>XRP, launched in 2012, is the primary currency of the Ripple Ledger, now known as the “XRP Ledger.” It is marketed as a cost-effective intermediary for cross-border remittances. BNB, on the other hand, serves as the native token of the Binance Smart Chain, a platform supporting various tokens and applications, including cryptocurrencies, stablecoins, and DeFi protocols. BNB also offers trading fee reductions on Binance.</p>
<p>BNB’s dominance over XRP, which began in February 2021 during the last bull market, might soon shift. BNB’s value has decreased by 67% since its peak in November 2021, while XRP has seen a significant recovery, increasing by more than three-quarters since its low point in September. Meanwhile, BNB has only experienced a 6% rise in the same period.</p>
<p>Both cryptocurrencies face significant challenges. The U.S. has dropped charges against Ripple executives Brad Garlinghouse and Chris Larsen, but a jury trial next spring will decide if Ripple’s sales to institutional investors breached securities laws. Meanwhile, Binance confronts severe issues, including a $4 billion payment to U.S. authorities and legal challenges for its founder, Zhao. These troubles have led to a 10% drop in BNB’s value since Zhao’s guilty pleas were confirmed.</p>
<p>Despite these challenges, Binance remains the world’s largest crypto exchange by volume. Yet, the recent difficulties and a mandatory three-year market surveillance program could weaken its position relative to other global platforms​.</p>
<p>The post <a rel="nofollow" href="https://www.financebrokerage.com/xrp-on-the-brink-of-surpassing-coin-in-market-cap-race/">XRP on the Brink of Surpassing Coin in Market Cap Race</a> appeared first on <a rel="nofollow" href="https://www.financebrokerage.com">FinanceBrokerage</a>.</p>