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<a href="https://yellow.com/asset/xrp">XRP</a> has made waves with a remarkable surge of over 20% on Friday, outshining major cryptocurrencies like <a href="https://yellow.com/asset/btc">Bitcoin</a>, <a href="https://yellow.com/asset/eth">Ethereum</a>, and <a href="https://yellow.com/asset/sol">Solana</a>. This impressive increase has vaulted XRP to the position of the fifth-largest cryptocurrency by market capitalization, now exceeding $107 billion. 
Currently, XRP is trading at $1.87, marking an astonishing 99% <a href="https://www.newsbtc.com/xrp-news/xrp-makes-a-strong-20-surge-pushing-past-bnb-to-become-5th-largest-crypto/">rise</a> over the past two weeks. This surge enabled XRP to surpass <a href="https://yellow.com/asset/bnb">Binance Coin (BNB)</a> in market capitalization, heralding a revival of investor interest. 
The recent rally signals a pivotal turnaround for XRP, which had been trapped in a range between $0.30 and $0.60 for almost three years. This period of stagnation is largely attributed to the conclusion of the 2021 bull market and ongoing legal challenges faced by Ripple Labs from the US Securities and Exchange Commission (SEC). 
The SEC's classification of XRP as an "unregistered security" has sown substantial uncertainty among investors, particularly within the US, affecting the token's market performance. However, recent political shifts in the United States have renewed confidence among cryptocurrency investors. 
Following Donald Trump's electoral victory on November 5, which saw him defeat current Vice President Kamala Harris, there was a notable upturn in the cryptocurrency market. Bitcoin reached unprecedented highs, peaking at $99,540, spearheading this market revival. 
Trump's electoral pledge to reform regulatory frameworks, including the planned dismissal of SEC Chair Gary Gensler on his first day, has added to the optimism. Gensler's announced departure, coinciding with the presidential inauguration on January 20, enhances prospects for resolving the prolonged legal dispute between Ripple and the SEC. Such a resolution could unlock fresh capital inflows into XRP and facilitate the advent of new investment vehicles, such as exchange-traded funds (ETFs) based on the token, with multiple asset managers already proceeding with applications. 
In the realm of technical analysis, crypto analyst DarkDefender has observed that XRP has effectively cleared a crucial resistance level at $1.44. In light of the recent upswing for the fifth-largest token in the market, DarkDefender has identified new price targets for XRP, namely $3.4176 and $11.3233, while revisiting historical benchmarks of $5.85 and $18.22. Furthermore, the analyst has spotlighted new support levels at $1.44, $1.28, $1.14, and $1.03. 
The 4-hour chart reveals a fresh market framework for XRP, with expectations that it will reach $2.13 before any potential pullback. Newly identified resistance levels are set at $4.11 and $6.42 within this period, aligning with the primary goal of $5.85 following an anticipated advance beyond $1.88.

XRP Soars 20%, Overtakes BNB as Fifth-Ranked Cryptocurrency

Yellow News

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