- JackTheRippler highlighted in an X post today that XRP was close to overtaking BNB in terms of market cap.
- BNB was, however, able to outperform XRP in terms of price in the last 24 hours.
- Technical indicators on XRP’s daily chart suggested it may rise to as high as $0.68 in the next few days.
The Ripple (XRP) enthusiast that goes by the pseudonym JackTheRippler on X revealed in a post earlier today that XRP was close to surpassing Binance Coin (BNB) in terms of market cap. In the post, he included a snapshot, which showed that XRP’s valuation stood at $33.68 billion. This was just behind BNB with its market cap of $34.79 billion.
From a price point of view, BNB was able to outperform XRP over the last 24 hours. Data from the cryptocurrency market tracking website CoinMarketCap showed that BNB was up 2.42%. Meanwhile, the remittance token was only able to record a 1.93% increase in its price during the same period.
Subsequently, BNB was trading at $233.33 at press time, while XRP’s price stood at $0.6317. XRP did, however, have an edge over BNB on the weekly timeframe. Over the past 7 days, XRP registered an uptick of 3.93%. This overshadowed the weekly performance of BNB, which stood at +1.69% at press time.
From a technical point of view, an ascending triangle has emerged on XRP’s daily chart. In the last 24 hours, the altcoin was able to break above the base of this pattern at $0.6235. Furthermore, it continued to trade above this level at press time.
Should XRP close today’s trading session above this significant mark, its ascent may carry over to the next few days. This could lead to the cryptocurrency rising to as high as the next major resistance level at $0.68.
Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) supported this bullish thesis. Throughout the past 48 hours, the RSI line was able to rise above the RSI Simple Moving Average (SMA) line. This suggests that bulls have gained the upper hand against sellers on XRP’s daily chart.
In addition to this, the MACD line was attempting to cross above the MACD Signal line. These two technical indicators intersecting may also signal a continuation of XRP’s bullish trend.
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