BNB Price Skyrockets to New ATH, Flips XRP – Can Bulls Maintain Control?
The post BNB Price Skyrockets to New ATH, Flips XRP – Can Bulls Maintain Control? appeared first on Coinpedia Fintech News
BNB just made headlines by smashing a fresh all-time high yesterday, notching a peak at $1,336.57. And solidifying its place as the 3rd-largest cryptocurrency by market cap. The move saw BNB flipping XRP, a moment that electrified the market. With a 4.85% jump in a single day and a massive 29.32% gain in just seven days, BNB’s momentum right now is impossible to ignore. The question on everyone’s mind is: what’s driving this rally, and can it last? Join me as I answer the same.
What’s Fueling This Surge?
First, BNB has outrun XRP in market cap, a psychological milestone that’s drawn waves of speculative and institutional buying. Notably, whale wallets and Nasdaq-linked firms have increased their holdings, betting big on the upcoming ETF narrative and BNB’s expanding ecosystem. Add to that the rally’s context: BNB defied a -2.11% drop in the overall crypto market. Thereby, it outpaces competitors and highlights its relative strength.
BNB Price Analysis:
BNB price today has delivered an exceptional performance, closing at $1,307.35 after bouncing between $1,241.68 and the new ATH of $1,336.57. What stands out is the sharp uptick in market cap, now at $181.67 billion. The explosive trading volume, doubling to $12.02 billion, is a robust sign of renewed market interest.
From a technical perspective, the breakout above the critical Fib 23.6% retracement level at $1,226.90 and the short-term pivot point at $1,285.35 signals a bullish shift in sentiment. The MACD histogram reading of +24.24 confirms strong buying momentum. While immediate resistance looms at $1,462. However, the RSI-14 stands at 78.59, deep in overbought territory. Still, key support sits at $1,226, offering a reliable floor if BNB’s rally needs room to consolidate.
Looking ahead, if the BNB price can close above the record $1,336.57, the next upside target sits at $1,462, and a break above this could open the door to $1,624. Caution is warranted, as any dip below $1,226 could see a sharper cooldown. Regulatory issues, including recent PancakeSwap hack concerns, and the next Binance coin burn update due for late October, could inject volatility into the mix.
FAQs
BNB’s uptick is driven by strong buying from major investors, positive ETF speculation, and Binance’s ecosystem growth, all helping it leapfrog XRP.
Yes, the RSI is at very high levels, signaling possible short-term correction risks, especially if trading activity cools off.
Keep an eye on the $1,226 support and $1,336.57 ATH resistance, while closing above the latter could target $1,462 and higher.
Read More
BNB Price Skyrockets to New ATH, Flips XRP – Can Bulls Maintain Control?
The post BNB Price Skyrockets to New ATH, Flips XRP – Can Bulls Maintain Control? appeared first on Coinpedia Fintech News
BNB just made headlines by smashing a fresh all-time high yesterday, notching a peak at $1,336.57. And solidifying its place as the 3rd-largest cryptocurrency by market cap. The move saw BNB flipping XRP, a moment that electrified the market. With a 4.85% jump in a single day and a massive 29.32% gain in just seven days, BNB’s momentum right now is impossible to ignore. The question on everyone’s mind is: what’s driving this rally, and can it last? Join me as I answer the same.
What’s Fueling This Surge?
First, BNB has outrun XRP in market cap, a psychological milestone that’s drawn waves of speculative and institutional buying. Notably, whale wallets and Nasdaq-linked firms have increased their holdings, betting big on the upcoming ETF narrative and BNB’s expanding ecosystem. Add to that the rally’s context: BNB defied a -2.11% drop in the overall crypto market. Thereby, it outpaces competitors and highlights its relative strength.
BNB Price Analysis:
BNB price today has delivered an exceptional performance, closing at $1,307.35 after bouncing between $1,241.68 and the new ATH of $1,336.57. What stands out is the sharp uptick in market cap, now at $181.67 billion. The explosive trading volume, doubling to $12.02 billion, is a robust sign of renewed market interest.
From a technical perspective, the breakout above the critical Fib 23.6% retracement level at $1,226.90 and the short-term pivot point at $1,285.35 signals a bullish shift in sentiment. The MACD histogram reading of +24.24 confirms strong buying momentum. While immediate resistance looms at $1,462. However, the RSI-14 stands at 78.59, deep in overbought territory. Still, key support sits at $1,226, offering a reliable floor if BNB’s rally needs room to consolidate.
Looking ahead, if the BNB price can close above the record $1,336.57, the next upside target sits at $1,462, and a break above this could open the door to $1,624. Caution is warranted, as any dip below $1,226 could see a sharper cooldown. Regulatory issues, including recent PancakeSwap hack concerns, and the next Binance coin burn update due for late October, could inject volatility into the mix.
FAQs
BNB’s uptick is driven by strong buying from major investors, positive ETF speculation, and Binance’s ecosystem growth, all helping it leapfrog XRP.
Yes, the RSI is at very high levels, signaling possible short-term correction risks, especially if trading activity cools off.
Keep an eye on the $1,226 support and $1,336.57 ATH resistance, while closing above the latter could target $1,462 and higher.
Read More