Key takeaway
- Ripple’s XRP is down 4.6% over the past 24 hours and is trading below $2.90.
- It has lost its market position to BNB, with Binance’s native token now the third-largest cryptocurrency by market capitalization.
XRP slips below $2.90 as BNB overtakes it on the market cap list
XRP, the native token of the Ripple ecosystem, has underperformed in recent days. It has been outpaced by BTC, ETH, BNB and SOL, and this weakness has prevented it from breaking the $3.00 resistance level.
At the time of writing, XRP is down 4.6% over the last 24 hours and is trading around $2.84 per coin. With a market capitalization of approximately $170 billion, XRP has ceded its ranking to Binance’s BNB token.
BNB has rallied in recent weeks, reaching an all-time high of $1,336 on Tuesday. That surge allowed BNB to surpass both XRP and Tether’s USDT to become the third-largest cryptocurrency by market cap, behind Ethereum and Bitcoin.
Analysts remain hopeful that XRP could rebound, with some forecasting a move toward the psychological $5.00 level before the end of the year.
XRP risks a drop to $2.71 if bearish pressure persists
The XRP/USD 4-hour chart still shows bullish elements despite XRP’s recent weakness. The token saw roughly $22.3 million in futures liquidations over the past 24 hours, with long traders suffering the largest losses.
The decline to $2.84 followed a rejection at a descending trendline resistance that has been in place since the 21st. XRP has now fallen below the convergence of the 50-day and 100-day simple moving averages (SMA).
If the bearish momentum continues, XRP could slide toward the $2.71 support level in the coming hours. The Relative Strength Index (RSI) sits at 44, indicating sellers currently have the upper hand, while MACD lines have moved into negative territory.
However, if buyers regroup and push XRP back toward the $3.10 resistance, they will likely need broader market support to challenge the August high of $3.38. Clearing that level could set the stage for a medium-term attempt at the 2025 peak of $3.66.