XRP is once again approaching Binance Coin (BNB) in the cryptocurrency market capitalization rankings, with the value gap narrowing to around $10 billion. Recent market figures indicate that XRP’s capitalization stands at approximately $85 billion, while BNB maintains about $95 billion. However, these values fluctuate continuously as prices shift.
XRP approaches BNB in capitalization
The difference between XRP and BNB has proven to be highly volatile in the past weeks. On September 6, XRP reached a market capitalization of $89.3 billion, while BNB was valued at $100.2 billion, bringing the gap to roughly $10.9 billion. During a period of price strength for XRP earlier in September, the disparity between the two briefly narrowed to just $5 billion, raising speculation in the broader crypto community about a possible reshuffling of the top three cryptocurrencies by market cap.
XRP, a digital asset operating on the XRP Ledger, is primarily used for payments and cross-border transactions. Binance Coin, issued by the global cryptocurrency platform Binance, powers transactions and fee reductions within the Binance ecosystem and supports several decentralized finance applications.
Payment activity surges, but mixed network signals
Recent network statistics for XRP revealed a surge in payment-related activity. The volume of payments rose by 26% to 462.9 million XRP, while the overall number of payments increased 33.8% to almost 827,800 over the recent measurement period. The network also recorded an 8.8% rise in new accounts and a 1.3% uptick in active accounts.
Despite these gains, several key usage metrics moved in the opposite direction. Successful transactions on the XRP Ledger fell 37.5%. The number of active users declined 22.4%, and total transactions dropped by 29.1% to 1.8 million. These figures indicate that while payment activity has grown rapidly, overall participation across the network remains uneven.
Recent data shows payment volumes jumping more than 25% for XRP, but total transaction figures and active user counts are falling sharply, highlighting a divergence in network health metrics.
XRP now processes significantly higher payment volumes, yet other forms of on-chain activity have not kept pace. As a result, some market watchers view cost dynamics as the major variable influencing XRP’s next moves.
Price levels and potential for overtaking BNB
Currently, XRP trades near $1.36 following a recovery from an intraday low around $1.315. The asset sits close to a major long-term moving average at $1.355, which may act as support, with further dynamic support at $1.336. The relative strength index (RSI) stands close to 53, indicating neutral momentum.
Supply and capitalization math show that every $0.10 increase in XRP’s price adds about $6.27 billion to its market capitalization, based on the 62.74 billion tokens in circulation. Accordingly, it would take an additional $0.15 to $0.17 on the XRP price to close the present $10 billion gap with BNB, assuming BNB’s capitalization remains stable. However, if BNB appreciates simultaneously, the target for XRP rises.
| Asset | Market Capitalization | Price | Required Price Change to Close $10B Gap |
|---|---|---|---|
| BNB | $95 billion | Variable | N/A |
| XRP | $85 billion | $1.36 | +$0.15–$0.17 (if BNB stable) |
Momentum for XRP would increase if it were to recover past $1.45 and return toward the $1.50–$1.55 range observed in August. Such a move could lead to a much tighter contest for third place in the market-cap rankings, especially if BNB’s own price movement remains muted.
