XRP Flips BNB, Hitting Highest Price in a Month as Ripple Plans to Seek Brazil License
XRP surpassed Binance's BNB as the fourth-largest cryptocurrency by market cap after rising on news of Ripple expanding its payments offerings in Brazil and seeking a local license. XRP was unchanged over 24 hours but gained 8.5% over the week, recently trading at $1.51 and briefly hitting $1.60, a monthly high. BNB, by contrast, fell 1.1% in 24 hours, climbing only 2.7% for the week, enabling XRP’s overtaking. XRP’s open interest grew 33% in two weeks, reaching $2.82 billion, suggesting more capital and trader conviction in derivatives markets. Ripple has expanded its Ripple Custody service in Brazil, serving clients like Banco Genial and Braza Bank, and is applying for a Virtual Asset Service Provider (VASP) license. The firm now offers payments and treasury platforms to Brazilian institutions. Ripple CEO Brad Garlinghouse views XRP as central to the company’s strategy and aims for a $1 trillion valuation, following a recent buyback valuing Ripple at $50 billion.
