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XRP has flipped Binance’s BNB for the first time in over two years, jumping into fourth spot in crypto market cap rankings behind tether (usdt<\/a>), ether (eth<\/a>) and bitcoin (BTC<\/a>,<\/p>\n BNB was worth double XRP<\/a> at the beginning of the year \u2014 $44 billion to $17.4 billion. Despite coming under repeated fire from regulators globally, Binance’s flagship token had, throughout all of 2022 and 2023, held its ground.<\/p>\n All that changed when the markets digested a New York judge’s ruling<\/a> that XRP sales were not securities through secondary markets (crypto exchanges and the like). <\/p>\n BNB now commands a $40.1 billion valuation, 4.7% shy of XRP’s $42 billion, per CoinGecko.<\/p>\n The judge also ruled institutional sales may well be securities, leaving room for further clarity as the case moves on.<\/p>\n Derivatives markets immediately went into overdrive, swelling open interest<\/a> for XRP futures by 99%. The figure currently stands at $1.02 billion in outstanding contracts, Coinglass shows<\/a>,<\/p>\n XRP was last seen trading at $0.79, up more than double from its previous daily closing price of $0.47. The last time XRP’s market cap was higher than BNB’s was in April 2021 (briefly, for one day), after it was flipped for the first time two months earlier.<\/p>\n \n