XRP, the controversial digital token related to Ripple, briefly surpassed Binance Coin (BNB) in market capitalization earlier at the moment.
As of current knowledge, XRP’s market cap reached roughly $36.09 billion, narrowly lagging behind BNB’s $36.13 billion.
XRP’s distinctive standing
Regardless of being typically overshadowed by giants like Bitcoin (BTC) and Ethereum (ETH), XRP has demonstrated resilience and flexibility.
XRP is now more likely to finally reclaim its fourth spot on CoinMarketCap because the token has been buoyed by regulatory readability.
As reported by U.Today, Ripple’s prime lawyer Stuart Alderoty not too long ago harassed XRP’s distinct standing within the U.S., which stems from its classification as a non-security following a court docket ruling.
This authorized distinction units XRP other than the overwhelming majority of different digital tokens and might be a driving consider its market efficiency.
Binance’s troubles
In the meantime, Binance, the crypto big behind the BNB token, is going through its personal regulatory hurdles, which have affected BNB’s market standing and paved the way in which for rivals of the likes of XRP.
Following Changpeng Zhao’s resignation as a consequence of prices from the U.S. Division of Justice, many questioned BNB’s skill to retain one of many prime spots. Nonetheless, CZ not too long ago harassed that BNB does not want a CEO, alluding to its alleged decentralization.