XRP Surpasses Binance Coin to Reclaim Third Largest Crypto Spot Amid Institutional Uptick

XRP has surged past Binance Coin (BNB) to reclaim its position as the third-largest cryptocurrency by market capitalization, with a price climbing to $2.63 and a market cap of approximately $158 billion, marking a 12.8% weekly rally. This surge is driven by a combination of market rotation and deeper factors, including the emergence of Evernorth, a digital asset treasury initiative backed by Ripple co-founder Chris Larsen and Japan's SBI Group, aiming to tighten XRP's circulating supply and establish an institutional-grade reserve. Concurrently, Ripple's expansion into enterprise payments and growing stablecoin assets support XRP's momentum, alongside accelerating interest in XRP ETFs by major firms. Technical analysts highlight XRP's breakout above a prolonged consolidation wedge, holding the crucial $2.60 support level and potentially targeting $2.90, signaling bullish momentum with increased trading volume. Additionally, XRP gained legal recognition in India as property after a court ruling against exchange WazirX's plan to redistribute customer funds, providing a significant precedent for crypto ownership rights and boosting investor sentiment in the region. Despite some market volatility affecting other tokens like Dogecoin, XRP's strong fundamentals and institutional backing position it as a leading digital asset in the current crypto cycle.