XRP Surpasses Tether to Become 3rd-Largest Crypto as Bitcoin Struggles at $100K Threshold

XRP has surged over 20% in the last 24 hours, overtaking Tether’s USDT to claim the third spot among cryptocurrencies by market capitalization.

The payments-focused cryptocurrency has enjoyed a spectacular rise, rallying 375% in the past month to hit $2.40, per CoinDesk data. This surge has pushed XRP’s market cap to $139 billion, solidifying its position as one of the market’s top assets.

“This remarkable run underscores a resurgence of interest in XRP,” said Mena Theodorou, co-founder of Coinstash. “Factors like speculation around a Ripple-issued stablecoin and discussions about a potential ETF approval are likely driving this momentum.”

XRP’s trading activity has also seen a dramatic increase. Upbit, South Korea’s leading crypto exchange, recorded $4 billion in XRP-won trading volume in the past 24 hours—accounting for 27% of the platform’s total, according to Coingecko data.

Adding fuel to the rally is South Korea’s decision to delay implementing a crypto capital gains tax until 2027. “The delay removes a significant barrier to speculative activity and encourages fresh inflows into the market,” noted Markus Thielen, founder of 10x Research.

Bitcoin Faces Resistance at $100K

While XRP flourishes, bitcoin (BTC) is facing hurdles at the $100,000 level. BTC slipped 1% to $96,000, unable to break out of its range between $90,000 and $100,000 over the past two weeks.

A major $384 million sell wall is presenting significant resistance for bitcoin. “A strong influx of buyers is needed to absorb this sell pressure and propel BTC past $100K,” said Valentin Fournier, analyst at BRN.

In parallel, BTC’s market dominance has declined from 61.5% to 56.5% in under two weeks, reflecting a shift in investor attention toward altcoins like XRP.

“With bitcoin consolidating, altcoins are seizing the opportunity to capture market share,” Fournier said. “XRP’s stellar performance is emblematic of this trend.”

As bitcoin struggles to conquer its psychological barrier, XRP’s impressive rally underscores a broader shift in market dynamics favoring alternative cryptocurrencies.