XRP Surges 7%, Flips BNB as Analyst Says $2 Is the New Floor

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Ripple’s native token joined the overall altcoin trend on Friday and jumped by double digits from bottom to top. More precisely, it skyrocketed from $1.86 to a three-week high of $2.05 before it faced some resistance but still stands above $2.00.

This has helped the asset reclaim the fourth spot in terms of market capitalization from Binance Coin, which is up by a more modest 1% daily and 4.4% weekly. As a result, BNB’s market cap sits at $120 billion, while XRP’s has neared $122 billion.

Naturally, the XRP Army rejoiced in this price revival as the asset was struggling sideways below $2.00 and even $1.90 for weeks. Cobb, one of the most vocal Ripple supporters, was quick to predict that the underlying asset won’t go below $2.00 again, even though it’s excruciatingly close to doing exactly that now.

Analyst CW indicated that the XRP rocket had launched after the asset broke past the first resistance at $1.90. They added that the number of XRP short positions is quite slim, which shouldn’t be a problem for the asset to continue its run.

On a more macro scale, CW explained that XRP’s Phase 4 has just begun. The analyst noted that breaking through the $3.65 July 2018 all-time high “is the top priority,” which could send the token even north.


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