Binance coin reaches another milestone this week. Crypto’s third-largest asset cruise past more resistance to record a new all-time high. At the time of writing, BNB ATH is $524.
The new ATH doubles BNB leads above the sixth largest coin and increases the market capitalization to more than $78 billion. The current market cap leads investors to ask if BNB can flip the second largest coin.
On April 6, the Binance coin crossed $400 to record a new ATH. Talking about the then-new milestone in an analysis, the analyst predicted that the main priority of the bulls will be to have the third-largest coin trade comfortably above the $400 mark. After testing the $400 resistance and flipping it, the buyers will continue to rally the market to test this resistance constantly.
The prediction came true as the coin retested the $400 mark and the rally continued. As the Binance coin keeps climbing, the only coin that is following a little closer is the XRP.
With the current BNB market cap, XRP is more than $15 billion behind. With the news of XRP winning the case against the SEC spreading, ripple poses more threat to BNB.
When the legal case was on, investors were afraid to invest their funds. The fourth-largest coin by market cap started to surge as some traders started shrugging off the threats the legal battle pose.
The surge intensified as things started swerving in favour of ripple and it looked like they were going to win. The last 48 hours as seen XRP win and risen by 38% after the win.
The current price increase ensures crypto’s fourth-largest coin market cap hit $63 billion. After the recent rise in the market cap ranking, there is more chance of more increase and a price hike to $2 will seal the deal.
At the time of writing, XRP is trading at $1.3 per unit. A stark reminder of the presence of the bears. It will take extreme bullish measures to hit $2 in the coming week.
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