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XRP becomes the world’s third-largest crypto, rocketing past Tether in USDT market cap. All you need to know understand the XRP lunge
- XRP has become the world’s third-largest cryptocurrency by market cap, with a market cap of over $125 billion, overtaking Tether (USDT).
- XRP is Ripple’s cryptocurrency and aims to offer faster, cheaper international payments compared to other cryptocurrencies by using a consensus ledger protocol.
- XRP's features include speed, minimal fees, scalability, and utility for banks and financial institutions.
- Tether (USDT) is a leading stablecoin in the cryptocurrency market that aims to maintain a value of $1 through a reserve of cash, equivalents, and investments.
- XRP's recent surge in market capitalization and price is attributed to institutional adoption, regulatory clarity, and overall market momentum for altcoins.
- XRP's surge challenges the dominance of stablecoins like USDT, which are commonly used in trading pairs.
- XRP's growth suggests an increased focus on cryptocurrencies with real-world applications, rather than just speculative trading.
- XRP's upward momentum is expected to continue, but it may face competition from other cryptocurrencies like Ethereum and regulatory scrutiny.
- The development of XRP has the potential to drive innovation and competition in the cryptocurrency market.
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