BNB Overtakes XRP as Third-Largest Cryptocurrency Following 4.2% Drop

BNB Strikes Back 💥 -- XRP Loses #3 Spot After 4.2% Drop On Tuesday

XRP dropped 4% on Tuesday as selling pressure increased. A certain cryptocurrency overtook XRP as the third-largest cryptocurrency by market capitalization during the drop.

XRP loses third-largest crypto position. Investor sentiment drove XRP down 4% intraday on Tuesday. Bitcoin retail sentiment reached its greatest level since US President Donald Trump proposed tariffs in April, according to a crypto analytics firm. The firm noted that markets frequently move against "small traders' expectations." This generally precedes a breakthrough.

XRP fell from the top 10 cryptocurrencies on Tuesday. A certain token pushed the remittance-based coin to $179 billion, overtaking XRP's $171 billion as the third-largest crypto asset by market size. The token reached a record $1,330 on Tuesday after rallying 8%. It rose 30% last week, outperforming the top 100 cryptocurrencies.

The recent spike coincided with CEA Industries (BNC) revealing it held 480,000 tokens worth over $600 million. It also follows a certain platform co-founder's social media post declaring "meme season" for the token.

The token's surge has been boosted by the co-founder's statement and increased trading volume. The last 24 hours' trading volume has increased from over $2 billion last week to $9 billion, indicating strong market mood, according to a data platform.

XRP might fall to $2.71 if bulls fail. SMA convergence data shows $22.3 million in futures liquidations for XRP in the previous 24 hours, lead by $20.3 million in long liquidations. XRP also fell below the 50-day and 100-day SMA convergence. XRP might fall below $2.71 if bulls fail to reclaim SMA convergence.