u.today
Overtaking Tether to become the third-largest cryptocurrency by market capitalization is a significant milestone that $XRP is subtly approaching. Right now $XRP has a market capitalization of $133 billion, which is slightly less than $USDT's $148 billion. Based on the momentum, this flip may occur sooner than most people anticipate. With a weekly gain of 8.82%, $XRP is outperforming both Bitcoin and Ethereum in terms of percentage while maintaining a stable price of $2.28.
With a bullish alignment not seen in months, the asset is currently trading above the 50, 100 and 200-day EMAs after breaking out of a long-standing descending channel. It will be possible for $XRP to run toward $2.50-$3.00 if it maintains this trend. This is even more important in light of the larger market structure.
The majority of other altcoins are following suit as Ethereum is displaying relative strength near $1,835, and Bitcoin is consolidating around $95,000. However, $XRP is unique in that, although a market that has not broken out yet, it is displaying resilience and trending higher with steady volume. Stablecoin Tether's market capitalization is growing solely due to issuance; it is not changing in value. Instead of minting, $XRP is expanding through price appreciation.
This gives it a genuine chance to surpass $USDT on its own without requiring billions of dollars in fresh supply. Not only would it be a significant milestone in the charting process, but $XRP's crossing that line would reaffirm its position as a premier cryptocurrency asset and probably attract institutional and retail investment back into the ecosystem. The fundamentals are starting to align with the technicals as there are currently 58.44 billion $XRP in circulation and a trading volume exceeding $3 billion.
The bottom line is that $XRP is very close to overtaking Tether and taking back its top three position. If the current trend continues and the market stays risk-on, $XRP may make headlines once more - this time for its strength and dominance rather than lawsuits or delays.