TL;DR Breakdown
- Binance Coin has flipped Ripple’s cryptocurrency.
- BNB is now the sixth-largest cryptocurrency with a $26.9 billion market cap.
The Ripple (XRP) cryptocurrency has been flipped by several altcoins, including the Binance Coin (BNB), to the seventh-largest cryptocurrency. Notably, this cryptocurrency has been posting massive increases in value since the start of the year. However, XRP couldn’t keep up with the trend. XRP has been struggling in price since the US authorities announced their charges against Ripple, the blockchain company behind the XRP.
What’s with XRP?
The price of the cryptocurrency dropped heavily as many major crypto exchanges announced plans to suspend it from trading on their platform. Although XRP is gradually recouping the loss, it has been overtaken by some other cryptocurrencies, which are seeing more demand and massive price growths.
At the time of writing, the XRP cryptocurrency was trading at $0.5564 on Coinmarketcap, with a 24-hour price change of 10.9 percent. It currently has a market capitalization of $25.26 billion to be worth the seventh-largest digital currency in the market. Judging by the coin rankings in the past months, this is a huge reshuffle against XRP, which was mostly seen next to Ether (ETH) or Tether (USDT).
Binance Coin (BNB) flips XRP
The Binance coin is currently the sixth-largest cryptocurrency with a market capitalization of $26.9 billion, according to Coinmarketcap. Since 2021, the Binance has topped its all-time highs more than twice. The current ATH sits at $177.75, while the trades at $173.56 during press time. Cardano (ADA) and Polkadot (DOT) are the fourth and fifth-largest digital currencies, with a respective market capitalization of $29.5 billion and $28.9 billion.
Bitcoin remains the dominating coin in the market. The price of the cryptocurrency crossed a new all-time high above $52,000 on Wednesday. Currently, Bitcoin is trading at $51,490 with a market capitalization of $970 billion. Another major milestone record for the leading cryptocurrency would be crossing a $1 trillion market valuation.
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