In the latest turn of events, XRP has become the third-largest cryptocurrency after flipping Tether (USDT) by market cap. XRP’s market cap touched $151.3 billion on Wednesday, and Tether’s market cap is currently at $150.3 billion. The Ripple’s native token is now ahead of $1 billion in market cap after rising 22% in a week. It is also among the most sought-after cryptocurrencies in the market due to its recent price run.
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The 24-hour trading volume has also reached a whopping $4.7 billion, making its price surge 3.5%. The leading altcoin has sustainably scaled up in the charts, delivering stellar profits to investors in a year. Traders who took an entry position in the altcoin in Q1 of 2024 have made more than 410% in profits. XRP is now larger than stablecoin Tether (USDT) after receiving an influx of funds from investors due to its scalability.
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XRP Surpasses Tether’s USDT in Market Cap: Can Its Price Reach $5 Next?
After XRP surpassed Tether’s USDT in market cap, bulls are aiming to make the altcoin touch the $5 mark. However, the market conditions are currently favoring a bull run, but that might not last long. The US stock market surged in value for two consecutive days on Monday and Tuesday after the US-China trade deal. A total of $2.2 trillion worth of wealth was added to the markets on Tuesday’s trading session alone.
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Nonetheless, the rise can be temporary as Trump is ready to impose tariffs after the 90-day pause haul. The move would shake up the markets again, leading to a crash and getting back to square one. Therefore, despite the recent rally, the chances of a dip remain high as uncertainty still prevails in the market. So, XRP doubling in price again and reaching $5 after beating Tether’s USDT in market cap remains slim.
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