Today, the price of XRP had a significant upswing, rising as much as 5% to $0.609 in the previous day. With its present trajectory, XRP is almost back to where it was before it overtook Binance Coin (BNB) in terms of ranking. With this daily increase, XRP’s losses over the last seven days have now dropped to 2% as it works to tie up any loose ends in its attempt to map out a bold course for the future.
With a market capitalization of $32,887,983,406 at the present price point, XRP is less valuable than BNB, which is valued at $37,126,113,632. This means that XRP has to make up almost $4.2 billion in order to regain its former position.
As of now in this year, XRP has demonstrated a higher growth rate than BNB. Over the course of the year, XRP has increased by 74%, while Binance Coin (BNB) has decreased by 0.73%. With only a few days left in the year, XRP could decide to take advantage of BNB’s weakness due to regulatory pressure in order to overtake it in the rankings.
Notably, XRP and BNB had doubts at the beginning of the year. However, as a result of a court decision rendered by Judge Analisa Torres, XRP has now resolved its securities problems.
Bullish momentum catalysts for XRP
It’s quite likely that XRP will take advantage of a number of indicators to determine how it wants to continue growing in the next months. In addition to its outstanding whale activity, which saw a 2.21% increase to $1,316,069,795 in trading volume, XRP can have a favourable effect on sentiment if it continues to perform well in the coming days.
As Ripple Labs enters the new year with a better understanding of its regulatory responsibilities, opportunities for company expansion are available, which will benefit XRP. In addition, improvements to the XRP Ledger and related ecosystem protocols are generally improving the mood.
