XRP Takes Aim at Binance Coin's Top Spot with $10 Billion in Play

The cryptocurrency XRP has been narrowing the gap between its market capitalization and that of Binance Coin (BNB), with only $10 billion separating the two assets. As of September, XRP's capitalization is around $85 billion, while BNB's is approximately $95 billion. This means XRP is roughly 10-12% behind its competitor in terms of market value.

The gap between XRP and BNB has been shrinking rapidly, with the difference dropping to as low as $5 billion earlier this month. However, it's not just the market capitalization that's showing signs of growth - XRP's network activity is also increasing. According to recent data, the volume of payments on the XRP network rose by 26% to 462.9 million XRP, while payments increased by 33.8%. Additionally, there was an 8.8% increase in new accounts and a 1.3% increase in active accounts.

However, not all metrics are showing growth - successful transactions decreased by 37.5%, active users decreased by 22.4%, and total transactions decreased by 29.1%. Despite this, the XRP network is handling more payment activity without seeing widespread growth in other areas. The cost of XRP remains a major factor, with the token currently trading around $1.36.

The token's price is also near a significant long-term moving average at $1.355, with further dynamic support at $1.336. Momentum is practically neutral when the RSI is close to 53. If supply stays mostly unchanged, every $0.10 increase in XRP adds roughly $6.27 billion to its market capitalization.