Despite years of regulatory challenges and persecution, investors beamed with excitement after discovering Ripple’s XRP has surpassed Tether’s USDT in market capitalization. XRP surged 10% to $2.60, hitting $152 billion.
XRP’s historic rise marks an important moment in the crypto space. Typically, stablecoins like USDT maintain high positions in market cap due to their stability and liquidity provisions. XRP’s surge, however, indicates strong price performance and renewed investor confidence in the asset, as Ripple hopefuls express optimism in the $50 million settlement with the SEC.
Analysts believe XRP will propel to $3 on the back of rising altcoin momentum and increased trading volumes. As XRP continues to rise, its performance may be a trigger for other altcoins to pose a stronger performance in the upcoming months.