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$XRP has finally surpassed Binance Coin ($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.