The BNB market cap broke $180 billion, surpassing both Tether and XRP, but can its dominance continue?
Summary
- BNB market cap has surpassed that of XRP and USDT
- The Binance coin reached an all-time high at $1,336.57, the same day
- Still, the battle for altcoin dominance is not over
In a move that shook up crypto rankings, BNB has overtaken XRP in market cap. On Tuesday, Oct. 7, BNB reached an all-time high of $1,336.57, positioning itself as the third-largest crypto asset, overtaking both XRP and Tether’s USDT.
As BNB started flipping XRP, market momentum took over for both coins. While BNB registered a 5.35% daily gain, XRP fell by 4.59%. At its height, BNB’s market cap reached $185 billion before stabilizing at $180 billion. This level puts it above XRP’s market cap of $173 billion.
Now, traders are asking whether this positioning will continue, or whether the recent BNB rally is a fakeout fueled by speculation.
Will BNB market cap surpass XRP in the long run?
For one, BNB’s recent rally has strong support behind it, both in terms of on-chain metrics and price charts. In the past few days, the token held steady above the $1,200 support, as well as key moving averages. This indicates that buyers are still in the driver’s seat.
At the same time, XRP stayed below the crucial $3 resistance level. Moreover, given BNB’s rally, XRP will need its most bullish case to flip BNB again. Still, some experts believe that XRP has a springboard ahead if it manages to reverse the recent decline.
“XRP is also interesting to watch right now, as it keeps testing the structural $3.00 ceiling, and breaking the $3.10–$3.20 range with strong volume would clear immediate resistance and open a move toward $3.30–$3.50,” Arthur Azizov, Founder and Investor at B2 Ventures told crypto.news.
In any case, BNB could also see a minor correction. While most signals lean bullish, the Relative Strength Index at 77.38 indicates slightly overbought conditions.
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