Key takeaways
- Ripple’s XRP has fallen 4.6% over the past 24 hours and is now trading below $2.90.
- XRP has ceded market position to BNB; Binance’s native token is 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 lagged behind BTC, ETH, BNB and SOL, unable to break above the key resistance at $3.00.
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 near $170 billion, XRP has lost its place on the rankings to Binance’s BNB token.
BNB has rallied in recent weeks, hitting a record 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, trailing only Ether and Bitcoin.
Analysts remain cautiously optimistic that XRP could rebound. Some expect the token to target the psychological $5.00 level before year-end if bullish momentum returns.
XRP could fall to $2.71 if bearish momentum continues
Despite recent weakness, the XRP/USD 4-hour chart still shows underlying bullish structure on a broader timeframe. However, the token experienced roughly $22.3 million in futures liquidations over the past day, with long positions taking the largest hit.
The slide to $2.84 followed a rejection at a descending trendline resistance that has been in place since July 21. XRP has moved below the convergence of the 50-day and 100-day simple moving averages (SMA), which adds pressure to the short-term outlook.
XRP/USD 4H chart
If the bearish trend persists, XRP could test support at $2.71 within the next several hours. The Relative Strength Index (RSI) sits near 44, suggesting sellers currently hold the edge, while MACD lines are dipping into negative territory.
Conversely, if buyers regroup and push XRP back above resistance around $3.10, they would likely need broader market strength to retest August’s high near $3.38. Clearing that level could set the stage for XRP to challenge its 2025 peak of $3.66 over the medium term.