XRP Flips BNB: Can it Maintain Fourth Largest Crypto Spot?

• XRP’s recent price uptrend allowed it to flip BNB and become the fourth largest crypto by market cap.
• Despite its current position, XRP’s price action has already turned bearish, which might push it down on the list of top cryptos in the coming days.
• BNB is only a few billion dollars away from reclaiming its fourth spot on the list of top cryptos.

XRP Flips BNB to Become Fourth Largest Crypto

XRP recently saw a surge in its price that caused it to become the fourth largest crypto by market cap, surpassing BNB Chain [BNB]. This made investors happy and spiked discussion in the crypto space as XRP was trending number one on LunarCrush.

XRP’s Metrics Turn Bearish

Despite maintaining its position at press time, XRP’s metrics have turned bearish as seen with a 4% decrease in its price over the last 24 hours according to CoinMarketCap. Additionally, BNB was trading at $242.94 with only a marginal difference in their market capitalizations of $2 billion, increasing chances of BNB reclaiming its fourth spot on the list of top cryptos.

Will XRP Retain Its Position?

A look at XRP’s daily chart gives a bearish notion with its Chaikin Money Flow (CMF) registering red bars below zero for two consecutive days. The Awesome Oscillator (AO) also followed suit as both red and green bars were seen taking turns over the period of 3 days, suggesting no clear trend going forward. As such, whether or not XRP can maintain its position as the fourth largest crypto is yet to be seen.

Conclusion

XRP managed to flip BNB and become the fourth largest crypto by market cap due to its recent price uptrend but this scenario might change soon given that many of their metrics have already turned bearish. With only a marginal difference between their market capitalizations, there is always a chance that BNB will reclaim its former position as well so investors should watch out for further developments before making any major decision regarding investments into these tokens.

Author Bio

Dipayan Mitra is an experienced journalist with expertise in finance & cryptocurrencies who currently works for MoonWhale Ventures Inc., where he covers news related to blockchain technology & digital assets markets across various industries such as banking & healthcare sector among others