cryptocurrencies

XRP rockets past USDT to become third-largest crypto by market cap: Could $3 be the ceiling?

Kitco Media
By Ernest Hoffman
Published
Updated
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XRP rockets past USDT to become third-largest crypto by market cap: Could $3 be the ceiling? teaser image

(Kitco News) – While Dogecoin (DOGE) saw a massive run-up in the wake of Trump’s reelection, and Bitcoin’s (BTC) rise to the verge of $100,000 has retained the lion’s share of the broader market’s crypto focus, another token has now outperformed both, and experts are now debating its potential for further gains.

Ripple (XRP) surpassed Tether USD (USDT) early this week to become the number-three cryptocurrency by market cap. XRP is now up over 430% over the last month, and over 18% in the last 24 hours, as it traded above $2.72 on Monday afternoon.

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Legendary trader Peter Brandt shared a chart showing that the token has broken out well above its long-term resistance and is deep into price discovery territory.

X user Protrader 365 noted the massive upward move, but shared a chart suggesting that Ripple may run into a hard ceiling around the $3.00 level.

“The news of these few days is the crypto market on $XRP, which was able to pass Tether (in terms of Market cap) today,” they wrote. “I expect that the main wave 3 will NOT go above 3.00.”

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At the time of writing, XRP last traded at $2.71808 for a gain of just under 18% on the session.

Kitco Media

Ernest Hoffman

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations. Ernest began working in market news in 2007, establishing the broadcast division of CEP News in Montreal, Canada, where he developed the fastest web-based audio news service in the world and produced economic news videos in partnership with MSN and the TMX. He has a Bachelor's degree Specialization in Journalism from Concordia University. You can reach Ernest at 1-514-670-1339.

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