XRP has gained by almost 20% in 24 hours and 128% in a week
XRP is currently ranked 4th after edging out Tether, Cardano, Polkadot, and Litecoin
$9.238 Billion in market cap separates XRP from the number 3 spot held by Binance Coin (BNB)
XRP could reclaim the number 3 spot if its current momentum is maintained, coupled with a BNB correction
The remittance coin of XRP is inching closer to reclaiming its number three spot in terms of market capitalization. The remittance coin has increased in value by roughly 20% in the last 24 hours and by 128% in the last week. At the time of writing, XRP is ranked fourth with roughly $9.238 Billion in market capitalization separating it from Binance Coin (BNB) at the number 3 spot as seen in the screenshot below.
What it Would Take for XRP to Retake the Number 3 Spot
XRP has had a swift journey up the rankings since the beginning of April having edged out crypto heavyweights such as Uniswap, Litecoin, Cardano, Polkadot and Tether to get to the number 4 position.
At current market cap levels, XRP needs to be valued above $1.595 to edge out Binance Coin (BNB) from the number 3 spot.
To note is that Binance Coin has also had an impressive run in the market beginning March 25th when BNB was valued at $225. This means that in a span of 2 weeks or so, Binance Coin has increased in value by 108% and is due for a correction that could provide XRP with an opportunity of reclaiming the number 3 spot.
The optimism of the SEC Lawsuit Against Ripple Ending
Also worth mentioning is that the XRP army is optimistic that the ongoing SEC lawsuit against Ripple will soon come to an end.
In the latest update of the case, Ripple scored a win against the SEC after the court denied the regulatory body, a chance at disclosing the financial records of the current and past CEOs of the company. US Magistrate Judge Sarah Netburn granted Ripple’s motion to keep their financial records private.
Such progress in the lawsuit has led to a level of optimism that the case will soon end with a settlement and/or fine with XRP being relisted on major crypto exchanges.