XRP is closing in on Tether's #3 market cap spot through real price gains, not token issuance.

With strong technicals and bullish momentum, XRP is outperforming major cryptos like Bitcoin and Ethereum. If current trends hold, XRP could flip Tether soon—marking a major shift in crypto market rankings. There's a storm brewing in the crypto markets, but where you least expect it!

In the ever-shifting landscape of cryptocurrency, a quiet storm is brewing. While Bitcoin and Ethereum often steal the headlines, XRP is slowly but surely positioning itself for a headline-worthy move.

Now, at $133 billion, it’s hot on the heels of Tether’s $148 billion in market cap. A flip could soon occur, which would be a major shift in crypto market rankings.

However, unlike USDT, which grows through token issuance, Tether is a stablecoin pegged to the US dollar. Its value doesn’t change, and its market cap only increases when more tokens are issued. In essence, it expands by minting.

On the other hand, XRP is gaining ground the hard way – through real price appreciation. Its current setup is different, and if you’ve been following closely, the signs are evident.

In the past week, XRP has surged by 8.82%, outperforming Bitcoin and Ethereum, which declined by 1.46% and 3.89%, respectively.

With trading volume exceeding $3 billion and a balanced buy/sell ratio (58% to 42%), XRP’s technicals are setting up beautifully for further gains.

In contrast, USDT is seeing more selling than buying, with 88% of its 24-hour trades displaying a bearish bias, and its volumes are relatively low at $1.36 billion. That kind of technical setup doesn't exactly scream strength.

For the first time in months, XRP is trading above its 50, 100, and 200-day EMAs, a sure sign of serious bullish momentum.

This comes after XRP broke out of a long-standing descending channel, which had been capping its growth for ages.

At the moment, XRP is holding strong at the $2.28 mark, with a key support level at $2.22 thanks to the 100-day EMA.

If current trends hold, we could see XRP test the $2.50-$3.00 zone, which would likely push it past Tether in market cap.

This would also be a symbolic milestone for XRP, which has faced years of regulatory hurdles and market uncertainty.

While everyone is focused on the next Bitcoin move, XRP is quietly making gains that could have lasting implications for the crypto landscape.

At a price of $2.27 and with 58.44 billion tokens in circulation, XRP is still a relatively small cryptocurrency in terms of market cap, but it’s quickly closing the gap on the top ten.

With strong technicals, bullish momentum, and a different narrative to Bitcoin and Ethereum, XRP could be poised for a breakout year in 2024.