The hierarchical reference theory of fluids (HRT) combines a first-principl
es description of the system from the knowledge of the microscopic interact
ion with some of the basic concepts of the renormalization group. The appli
cation of HRT to binary mixtures has provided a theoretical justification o
f the critical behavior predicted by the phenomenological approach. Moreove
r, the reason for the strong crossovers that make it difficult to detect ex
perimentally the asymptotic critical regime has been attributed to the comp
etition between two different fixed points. On the basis of this analysis,
the most favorable conditions that lead to an enhancement of the asymptotic
region are identified: mixtures close to a change in the topology of the p
hase diagram are good candidates for the direct experimental observation of
Features like the renormalization of the critical exponents or the weak di
vergence of the isothermal compressibility. This theory gives information n
ot only on critical phenomena but it is able to treat the full phase diagra
m in the fluid region and the static correlation functions at long as well
as at short distances. Some predictions for the phase diagram and the struc
ture factors of an argon-xenon mixture are shown.