BNB tops $120B market cap, flips XRP; up 27% annually and ~30% above Q3 open

Heading into 2026, BNB has held firm through a weak Q4 2025, rising 27% year over year and trading about 30% above its Q3 open. After crossing $120 billion in market value, BNB overtook XRP to become the third-largest crypto asset. The XRP/BNB ratio dropped roughly 8.5% in the past month, while BSC’s TVL fell 9% versus XRP’s 30% decline.