XRP Reclaims the #3 Spot from Tether, While Bitcoin Grapples With a $384M Wall of Resistance.

XRP Rockets Past Tether to Claim 3rd Spot as Bitcoin Stalls at $100K

XRP’s price has skyrocketed over 20% in just 24 hours, surpassing Tether’s USDT to become the third-largest cryptocurrency by market cap.

The payments-centric token has been on a remarkable run, soaring 375% in the past month to reach $2.40, according to CoinDesk data. This surge has pushed XRP’s market valuation to $139 billion, dethroning Tether and cementing its place among the crypto market’s elite.

“This surge in XRP reflects a growing wave of optimism among retail traders,” said Mena Theodorou, co-founder of Coinstash. “Speculation around a Ripple-backed stablecoin and the potential approval of an XRP-linked ETF have likely contributed to its recent popularity.”

South Korea’s largest exchange, Upbit, saw record activity in XRP trading, with $4 billion traded in the XRP-won pair over the last day, making up 27% of the platform’s total trading volume, according to Coingecko.

Adding to the momentum is South Korea’s recent decision to delay a crypto gains tax until 2027. “This postponement removes a barrier to speculative activity and is likely fueling renewed trading enthusiasm,” noted Markus Thielen, founder of 10x Research.

Bitcoin Encounters Roadblock at $100K

While XRP surges, bitcoin (BTC) has been grappling with the $100,000 psychological barrier. BTC slipped 1% to $96,000 and remains range-bound between $90,000 and $100,000, struggling to break higher.

A formidable $384 million sell wall is partly to blame for BTC’s stagnation. “Clearing this level will require significant bullish momentum, as profit-taking is creating strong resistance near $100K,” said Valentin Fournier, analyst at BRN.

In addition, bitcoin’s market dominance has fallen from 61.5% to 56.5% in the past two weeks, indicating a shift in investor focus toward altcoins.

“This decline in BTC dominance reflects a rotation of capital into altcoins, with XRP leading the charge,” Fournier added.

As bitcoin battles resistance, XRP’s explosive rally suggests that the altcoin market could see continued growth, fueled by speculative trading and emerging narratives.