Ripple overtakes Tether to become third-largest cryptocurrency market capitalization, praised by investors

Ripple (XRP) has moved into the top three cryptocurrency market capitalizations, according to CoinMarketCap data, as it continues its short-term rally. It has overtaken Tether (USDT). The XRP market capitalization currently stands at around $137.5 billion. On CoinMarketCap, XRP is trading at $2.41, up 28.49%. Solana Labs co-founder Anatoly Yakovenko told X that “Ripple (XRP) needs to be added to the national reserves,” according to the company. XRP is up 25.13% to $2.37 on CoinMarketCap.

Jamie Coutts, a cryptocurrency market analyst at RealVision, told X: “Ethereum has been on a roll lately, but it's struggling against Bitcoin and Solana. Solana is outperforming Ethereum in many ways. It is very likely that Solana will close the gap with Ethereum this cycle.”

Meanwhile, Hunter Horsley, CEO of crypto asset manager Bitwise, told X: “Bear markets are characterized by zero-sum thinking, where someone's gain is someone else's loss, as the overall market pie shrinks. At the end of November, the cryptocurrency market capitalization hit $3 trillion, surpassing the market capitalization in November 2021. The market is entering a bull market (growth period) where the pie is growing again.”