XRP Overtakes BNB as Institutional Demand and Ripple’s Strategic Moves Drive Market Momentum
XRP surpasses BNB to become the third-largest cryptocurrency as Ripple’s institutional initiatives drive market optimism.
XRP has reclaimed its position as the world’s third-largest cryptocurrency, surpassing Binance Coin (BNB) in market capitalization amid a resurgence of investor confidence and growing institutional activity around Ripple’s ecosystem.
As of Sunday, XRP’s market cap reached approximately $158 billion, edging past BNB’s $156 billion. The token climbed to $2.63, gaining 3.4% in the past 24 hours and nearly 13% over the past week—making it one of the best-performing major digital assets this month. BNB, by contrast, saw modest growth of 0.55% on the day and 4.35% over the week, trading around $1,123.
The latest rally in XRP marks a reversal from October’s earlier trend, when BNB outperformed thanks to regulatory relief and renewed exchange support. A presidential pardon for Binance founder Changpeng Zhao, alongside new listings on Coinbase and Robinhood, had briefly elevated confidence in BNB. Now, momentum appears to have shifted decisively back toward XRP.
The turning point stems from strategic developments tied to Ripple and the launch of Evernorth Digital Asset Treasury (DAT), a new entity focused on large-scale XRP accumulation. Ripple co-founder Chris Larsen recently sold part of his XRP holdings to finance Evernorth’s $1 billion SPAC merger—an initiative designed not to liquidate the token but to consolidate and manage XRP supply, potentially tightening liquidity and supporting price stability.
Evernorth, backed by Japan’s SBI Group, plans to operate within the XRP Ledger’s native ecosystem, offering on-chain lending and liquidity services. Analysts view this as a key step in reinforcing XRP’s long-term utility across payments, stablecoins, and institutional settlement systems. Combined with Ripple’s parallel expansion into tokenized assets and financial infrastructure, these moves have strengthened the asset’s narrative as an institutional-grade cryptocurrency.
Despite the price rally, social sentiment around XRP remains polarized. Data from Santiment shows small retail investors have been selling into strength, driving negative sentiment on social media platforms. Interestingly, such pessimism has historically coincided with market bottoms for XRP. Analysts suggest that the divergence between retail FUD and institutional accumulation could once again prove to be a contrarian bullish indicator.
Market analysts point to $2 as a key support level. If maintained, projections place XRP near $2.80 by the end of October and possibly above $3.50 by year’s end, depending on broader market conditions and upcoming regulatory milestones. Anticipation is also mounting for a potential spot XRP ETF, alongside Ripple’s RLUSD stablecoin nearing the $1 billion mark in circulation. Institutional inflows already reached $73.9 million last week, underlining growing confidence in XRP’s evolving market role.
With renewed corporate partnerships, deep-pocketed backers, and structural demand drivers, XRP’s latest surge reflects more than speculative enthusiasm—it signals a new phase of institutional maturity within the crypto market.
