XRP Approaching to Surpass Tether (USDT) Market Capitalization: $134 Billion Value Reach
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Confidently nearing the finish line, XRP is making headway to topple Tether and claim a spot among the top three largest cryptocurrencies by market capitalization. As of now, XRP's market cap stands at an impressive $133 billion, just a hair's breadth from Tether's $148 billion. With a robust 8.82% weekly gain under its belt, XRP is leaving a trail of impressive performances in its wake.
Despite Bitcoin and Ethereum's modest showings, XRP is shaking things up by demonstrating tenacity and soaring over various obstacles. The asset is currently soaring above the 50, 100, and 200-day Exploration Moving Averages (EMAs), bursting through a longtime resistance channel. This bulletproof rally could see XRP sailing towards the $2.50-$3.00 mark if the trend persists.
However, what sets XRP apart from other altcoins is its refusal to rely on fresh issues to inflate its market cap. Instead, XRP expands its footprint through consistent price gains. In stark contrast, stablecoins such as Tether grow primarily due to token issuance with no change in value.
Wielding the upper hand, XRP seems poised to bump off Tether and reclaim its place in the top three list. Instead of slinging lawsuits or battling delays, XRP might make the news for its astounding strength and resilience. With 58.44 billion XRP in circulation and a jaw-dropping trading volume surpassing $3 billion, the odds are stacked in XRP's favor.
Enrichment Insights:
Assessing XRP's Prospects Against Tether (USDT)
Curious about what's fueling XRP's pursuit of Tether's position as the third-largest cryptocurrency? Here's a breakdown of the factors at play:
XRP's Market Capitalization:
- Presently, XRP's market cap stands at around $133 billion, which is nearly neck-and-neck with Tether's $148 billion[3]. These numbers suggest that XRP could bite the bullet and take aim at Tether's ranking.
- In the case of Tether, its market cap primarily bulks up due to token issuance, unlike XRP, which gains ground through price appreciation[3]. This dynamic gives XRP a significant advantage as the race heats up.
Catalysts for XRP:
- Price Appreciation: XRP's recent rally is not matched by Tether, which solely relies on issuance for its growth. In comparison, XRP's advances are fueled by increases in its actual price rather than token issues[3].
- Trading Volume: XRP boasts strong trading volume lubricated with a balanced ratio of buys and sells, throwing Tether's current bearish trend in the shade[3].
Stumbling Blocks and Projections:
- RLUSD and Market Share: The growing popularity of Ripple USD (RLUSD), Ripple's stablecoin, could serve as a epicenter for XRP's march towards dominance. If RLUSD manages to carve out a significant portion of Tether's market share, XRP could witness a boon in its price[5].
- Ambitious Price Targets: Some analysts propose that if RLUSD snatches 80% of Tether's market cap, XRP's price could skyrocket to levels around $4.47, thanks to Fibonacci extensions[5].
Bottom Line:
XRP's recent success and prospects for unceasing price gains position it as a formidable rival to Tether. Despite Tether's stronghold as a stablecoin titan, XRP could snatch its title with robust market shifts and success in Ripple's stablecoin projects.
- As XRP rapidly approaches Tether's market cap of $148 billion, it is poised to challenge Tether for the third spot among the largest cryptocurrencies by market capitalization.
- The current market cap of XRP stands at an impressive $133 billion, evidence of a robust 8.82% weekly gain and a trail of impressive performances.
- Unlike stablecoins like Tether which grow primarily through token issuance, XRP expands its footprint through consistent price gains, giving it an advantage in the race.
- XRP's price appreciation and strong trading volume, surpassing $3 billion, set it apart from Tether and position it favorably in the race to the top three.
- The growing popularity of Ripple USD (RLUSD), Ripple's stablecoin, has the potential to carve out a significant portion of Tether's market share, further boosting XRP's price and dominance.
- According to some analysts, if RLUSD manages to capture 80% of Tether's market cap, XRP's price could rise to levels around $4.47, spurred by Fibonacci extensions.
- With the ongoing success and prospects for unceasing price gains, XRP emerges as a formidable rival to Tether, posing a serious threat to Tether's stronghold as a stablecoin titan.
