The cryptocurrency market has made a slight recovery since its crash on Monday, Apr. 7. Bitcoin (BTC) is moving closer to reclaiming the $80,000 price point. The global crypto market cap has risen 2% in the last 24 hours to $2.6 trillion. Ripple’s XRP token and Binance’s BNB coin also follow the recovery trend.
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Ripple’s XRP and Binance’s BNB In The Green
XRP has rallied by 8.1% in the last 24 hours and 215.8% since April 2024. Despite the rally, XRP’s price is down 10.9% in the weekly charts, 21.4% in the 14-day charts, and 14.8% over the previous month.
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Binance’s BNB, on the other hand, has rallied 4.3% in the last 24 hours and is red across other time frames. BNB is down 8.1% in the weekly charts, 11.9% in the 14-day charts, and 2.7% over the previous month. While XRP has risen by more than 200% over the last year, BNB has fallen by 6.2% in the same time frame.
Which Asset Will Recover Pre-Crash Levels First?
According to CoinCodex, Ripple’s XRP token may breach the $3 mark on Apr. 10. XRP’s price will rally by 59.3% if it hits the $3.06 price point. CoinCodex does not anticipate XRP’s price to hold above $3. The platform anticipates a correction to the mid-$2 level by late May.
CoinCodex presents a more bullish outlook for BNB than XRP. The platform anticipates the asset to hit a new all-time high of $929.98 on Apr. 10. BNB’s price will rally by 69.49% if it hits the $929.98 target.
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Going by CoinCodex’s estimates, BNB may outshine XRP over the next few weeks.
There is also a possibility that both assets will continue to struggle and not rally. Global trade tensions are still high and macroeconomic headwinds may present considerable challenges to the crypto market.
