The native token XRP of the Ripple ecosystem has fallen by 4.6% in the past 24 hours, dropping below the $2.9 mark, and its market capitalization ranking has been surpassed by BNB, falling to fifth place. BNB has reached a historic high of $1,336, becoming the third largest crypto asset by market capitalization. Despite the short-term weakness, analysts still expect XRP to rebound to the psychological level of $5 before the end of the year.
BNB reaches a new high surpassing XRP and USDT
As of the time of publication on October 9, the trading price of XRP is $2.84, with a market capitalization of approximately $170 billion, and its position on the CoinMarketCap leaderboard has been replaced by Binance's BNB Token. This is a significant setback for XRP after its recent continuous lag behind mainstream coins such as BTC, ETH, BNB, and SOL.
BNB has been continuously rising over the past few weeks, setting a historical high (ATH) of 1,336 dollars on Tuesday. This breakthrough not only allowed BNB to surpass XRP but also to defeat the leading stablecoin Tether's USDT, becoming the third-largest Crypto Asset by market capitalization, only behind Ethereum (ETH) and Bitcoin (BTC).
Top five Crypto Assets rankings:
Bitcoin (BTC): market capitalization first
Ethereum (ETH): market capitalization second
BNB: Third in market capitalization
Tether (USDT): market capitalization fourth
XRP: market capitalization fifth
The strong performance of BNB is attributed to the continuous expansion of the Binance ecosystem, the meme coin craze on the BNB Chain (such as “Binance Life”), and the steady growth of trading volume on the Binance platform. In contrast, XRP has repeatedly faced setbacks when attempting to break through the $3.0 resistance level, leading to a cautious market sentiment.
XRP Technical Analysis: Short-term may test $2.71 support
(Source: Trading View)
Despite XRP's recent weak performance, the overall structure remains bullish on the XRP/USD 4-hour chart. However, technical indicators show that there is still pressure in the short term.
Current Trend Characteristics:
Current Price: 2.84 USD (-4.6%)
Downward trend line resistance: continuously exerting pressure since July 21.
Fell below the moving average line: has fallen below the convergence point of the 50-day and 100-day simple moving averages (SMA)
Relative Strength Index (RSI): 44 (Seller Dominated)
MACD Indicator: Falls into Negative Value Zone
Support and Resistance Levels:
Support level below: $2.71 (key defense line in the short term)
Resistance levels above: 3.1 USD → 3.38 USD (August high) → 3.66 USD (2025 high)
If the bearish trend continues, XRP may fall towards the support level of $2.71 in the next few hours. In the past 24 hours, the liquidation amount of XRP futures has reached $22.3 million, with long traders suffering the most, indicating that the market's leveraged long positions have faced a large number of stop losses.
Is a rebound to 5 dollars possible by the end of the year?
Although the short-term technical outlook for XRP is weak, several analysts remain optimistic about its medium to long-term trend. The market generally expects XRP to rebound to the psychological barrier of 5 dollars before the end of the year, mainly based on the following factors:
Bullish Factors:
Regulatory Progress: The legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) continues to improve.
Cross-border payment adoption: Ripple's application in global financial institutions continues to expand.
Technical correction: The current pullback may be a healthy technical adjustment.
Institutional Layout: Long-term investors may take advantage of the pullback to increase their positions.
However, to achieve the $5 target, XRP bulls need broader Crypto Assets market support. If they can break through the $3.1 resistance level and recover the 50-day and 100-day SMA, it will open the way to $3.38, further challenging the 2025 high of $3.66. After reaching that level, the $5 target will have technical feasibility.
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