XRP Overtakes USDT and Seizes Third Place on CoinMarketCap

XRP’s market cap hit $153.44B, surpassing USDT’s $150.32B to rank third overall. XRP climbed 22.78% over the last week, while in the last 24 hours, its gain reached 3.54%. XRP futures listing on CME launches May 19, signaling institutional growth ahead. XRP has flipped Tether (USDT) to occupy the third position on CoinMarketCap’s market capitalization list. XRP has a market cap of $153.44 billion, with its price at $2.62 at press time. This change represents the increased confidence of investors in the cross-border payments token. It also highlights low demand for stablecoins amid revived market volatility. Data from CoinMarketCap shows USDT’s market cap slipped to $150.32 billion as XRP overtook it. XRP’s circulating supply stands at 58.55 billion tokens, slightly below its total issuance of 99.98 billion. Price Action Analysis and XRP Price Trends XRP’s price increased by 22.78% over the past seven days, from a range of $2.05 to $2.62. In the last 24 hours, the token has been up by 3.54%, indicating continued buying pressure. Trading volume surged during the upward move, indicating strong investor participation. Meanwhile, the relative strength index (RSI) is at 66, indicating bullish moves that have yet to enter overbought territory. The moving average convergence divergence (MACD) line crossed above its signal line, and the histogram displays expanding positive bars last week, indicating strengthening bullish momentum. XRP found firm support around $2.40, while traders now eye the $2.70–$2.75 zone as the next resistance area. Clearing that barrier could open the path to $2.80 or higher. Conversely, a failure at that zone may trigger a pullback toward established support. Moreover, on-chain analytics indicate an increase in active addresses and transfer volumes. According to Santiment, a 15% increase in daily active accounts has occurred in the past week. This increase suggests an increased level of interaction in the XRP ledger. Additionally, Whale Alert noticed several transactions of over 10 million XRP. Whale movements frequently indicate significant price changes and require traders to monitor them in-depth. Ripple Lawsuit Developments and XRP Futures Outlook Ripple and the U.S. Securities and Exchange Commission filed a joint motion seeking a $50 million settlement. Under this proposed deal, Ripple would regain $75 million of the initial $125 million held in escrow. Ripple CEO Brad Garlinghouse described the motion as a “meaningful step toward clarity.” Experts caution that settlement still requires court approval, which could delay final resolution. Related: XRP Price Bullish Breakout: Falling Wedge Cleared, Analyst Eyes $3.5-$5 Rally Following a brief beta-page leak, CME Group will launch XRP futures contracts on May 19. Despite the firm’s downplay of the leak, its roadmap does not change. Futures markets are usually dominated by institutional players looking to hedge or speculate. Notably, Bitcoin began gaining after launching its CME futures in 2017. Although past trends do not guarantee outcomes, the XRP futures may trigger new demand. In addition, several spot ETF applications for XRP are still under regulatory consideration, potentially influencing future institutional flows. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company. Source: https://coinedition.com/whats-driving-xrps-22-weekly-surge-as-it-overtakes-usdt-for-third-place/