The post BNB And XRP Surge Past Market Leaders appeared on BitcoinEthereumNews.com.

In a significant development, two of the top 10 cryptocurrencies on the market, Binance Coin (BNB) and XRP, have emerged as the outperformers this Monday, overshadowing the gains of industry leaders Bitcoin (BTC) and Ethereum (ETH). XRP Price Analysis XRP, the token associated with the blockchain company Ripple, has taken the lead among the top 10 cryptocurrencies surging nearly 6%. The token’s price reached a near two-week high of $0.6080 earlier on Monday, coupled with a 197% increase in trading volume over the past 24 hours, according to CoinGecko data. Despite the XRP price later retracing to the $0.590 mark, the token’s ability to briefly consolidate above the critical $0.600 resistance level has raised hopes among investors.  To sustain the current price recovery, bulls will need to keep a close eye on the next hurdles at $0.6169 and $0.6288. A daily close above these levels could signal a breakout from the token’s one-month downtrend. Related Reading Notably, XRP is currently trading above its 200-day and 50-day exponential moving averages (EMAs) at $0.5516 and $0.5716, marked by the yellow and blue lines, respectively, on the XRP/USDT daily chart below.  As seen in the past uptrends of this year, these key technical indicators can provide support for the price in case of a broader market correction that could trigger additional selling pressure. The 1D chart shows XRP’s price trending upwards. Source: XRPUSDT on TradingView.com Binance Coin Surges To Two-Week High Binance Coin on the other hand, the native token of the leading Binance exchange, has also seen a surge, jumping 3% in the last 24 hours to reach a two-week high of $554. This comes after the token dipped as low as $399 on August 5, during the market’s “Black Monday” event. Similar to XRP, Binance Coin has also recorded a notable…

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Filed under: News - @ August 20, 2024 2:11 am