XRP reclaimed fourth position by market capitalization after surging 7% on Friday, pushing its valuation to $122 billion and surpassing Binance Coin's $120 billion. The Ripple token climbed from $1.86 to a three-week peak of $2.05 before settling above $2.00, while BNB gained a more modest 1% during the same period.
What Happened: Market Position Shift
XRP's Friday rally ended weeks of sideways trading below $2.00, with the token breaking through resistance at $1.90 to reach its highest level since mid-December.
BNB, which had held the fourth-largest cryptocurrency position, posted weekly gains of 4.4% but fell behind in total market capitalization.
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Why It Matters: Technical Outlook
Cobb, a prominent Ripple supporter, predicted XRP will maintain support above $2.00, though the token currently trades near that threshold.
Analyst CW noted the scarcity of short positions could facilitate continued upward momentum.
CW identified the current movement as the beginning of XRP's "Phase 4," stating that breaking through the $3.65 July 2018 all-time high "is the top priority" for further gains.
The analyst's framework suggests potential for additional price appreciation beyond previous peak levels.
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