Ripple’s Remarkable Surge
As of now, Ripple’s cryptocurrency, XRP, has been striving to reclaim its January 2018 levels when it was trading at $3.40. Despite the challenges, recent performances have caught the attention of many observers, sparking discussions about a potential XRP bull run similar to other major cryptocurrencies. Let’s explore the recent developments in detail.
XRP Shatters Records
On November 1, our analysis revealed a remarkable 13% surge in XRP’s price within just three days. This surge isn’t surprising, considering XRP has been on an upward trajectory since January 2023. The surge led Arthur Britto, co-founder of a blockchain payments company, to project an All-Time High (ATH) of $10,000 for this digital asset, drawing interest from the BRICS nations.
According to CoinDesk, XRP experienced a 10% surge in the last 24 hours and excelled in trading volumes, reaching $2 billion in transactions. This significant increase doubled the $1 billion recorded just the previous Sunday. With these statistics, XRP has claimed its position as the 4th most significant cryptocurrency in terms of market capitalization.
BNB Facing Challenges
Binance Coin (BNB), like many cryptocurrencies, witnessed glory in 2021, surpassing the $630 mark twice in a single year. However, volatility took its toll on BNB, leading to its current price of $250 per coin, which is well below its previous records.
Additionally, BNB faced legal challenges with the SEC, resulting in a downfall for the cryptocurrency. Since June, BNB hasn’t revisited the $300 mark due to these regulatory issues. Even a month after the American regulator’s attack, BNB modestly stabilized at around $240.309. Last September, it remained in a range between $212 and $207, indicating a move towards high liquidity.
Conclusion: XRP’s Potential and BNB’s Challenges
While XRP’s victory might have been brief in the past 24 hours, the widespread institutional adoption of the cryptocurrency raises questions about BNB’s future ranking. XRP’s impressive surge and trading volumes signal potential for further growth, whereas BNB’s challenges with regulatory issues have hindered its performance.
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