The cryptocurrency market has witnessed a significant shift in its hierarchy, as Ripple-linked XRP has been dethroned from its position among the top three largest cryptocurrencies by market capitalization. This notable change comes courtesy of Binance Coin (BNB), the native token of the crypto exchange giant Binance, which has experienced a substantial rally, propelling it past both XRP and USDT.

According to the latest data from CoinGecko, BNB now commands a market capitalization of $178.3 billion, narrowly surpassing XRP, which stands at $178.2 billion. This development was highlighted by CoinGecko, underscoring BNB's ascendancy in the competitive digital asset space.

BNB’s impressive surge is attributed to a relentless rally that has seen its value increase by as much as 26% over the past week. This performance has significantly outpaced major cryptocurrencies, including Bitcoin, which saw a 9.6% increase, and numerous other altcoins. In stark contrast, XRP recorded a relatively modest gain of only 4.2% during the same period.

While BNB celebrated its newfound market standing, the XRP community continues to harbor hopes for the eventual launch of spot Exchange Traded Funds (ETFs) linked to their token. For months, these potential spot ETFs have been widely anticipated as a major bullish catalyst for XRP, expected to drive significant institutional investment and price appreciation.

However, the launch of these eagerly awaited spot ETFs has faced an unforeseen delay. Reports from U.Today indicate that the ongoing US government shutdown has impacted the operations of the U.S. Securities and Exchange Commission (SEC), which is currently functioning with limited staff. This operational constraint has effectively pushed back the timeline for new spot ETF approvals. The duration of this government shutdown, and consequently the delay in ETF launches, remains uncertain, adding a layer of ambiguity to XRP's short-term prospects.