The post XRP Replaces USDT at the #3 Spot—Is the Long-Awaited $10 Bull Run Finally Here? appeared first on Coinpedia Fintech News
Recently, XRP overtook Tether (USDT) to claim the position as the third-largest cryptocurrency by market capitalization. This shift marks a significant milestone for XRP, highlighting renewed investor confidence and growing momentum in the market. While USDT has traditionally held its place due to its stablecoin status, XRP’s rise is primarily driven by increasing adoption, positive regulatory developments, and strong network fundamentals.
The on-chain activity indicates rising demand and accumulation by whales, while the technicals point towards a sustained rally towards the double-digit figure. Here are the top reasons why the XRP price is at the foothill of a massive explosion.
Legal Clarity and Regulatory Progress
XRP’s price rally is significantly influenced by improved regulatory clarity. The prolonged SEC lawsuit created uncertainty, keeping many investors cautious. However, recent court rulings have started to favor Ripple, providing a clearer legal framework around XRP’s classification. This shift has alleviated fears of XRP being labeled as an unregistered security, encouraging institutional investors and traders to increase their exposure.
Regulatory progress often acts as a catalyst for price action, and the easing of legal pressure has restored confidence in XRP’s long-term viability within the crypto ecosystem.
Expanding Use Cases & Partnerships
Ripple’s continued focus on real-world adoption plays a crucial role in XRP’s growth. The company’s blockchain solutions facilitate faster and cheaper cross-border payments, attracting banks and financial institutions worldwide. These partnerships not only drive demand for XRP as a bridge currency but also demonstrate practical utility beyond speculative trading.
By expanding its global payment network and securing agreements with key players, Ripple strengthens XRP’s market position and prospects. This tangible adoption creates a fundamental value proposition, supporting sustained price appreciation driven by increased transactional volume and network activity.
Is the $10 Milestone Within Reach for the XRP Price Rally?
The idea of XRP reaching $10 has circulated for years but seemed distant given its historical price range. However, surpassing USDT signals a strong bullish momentum, supported by:
- Supply and Demand Factors: XRP’s total supply and circulating supply dynamics can amplify price moves when demand spikes.
- Technical Breakouts: Recent price action shows XRP breaking key resistance levels, indicating a potential bullish trend.
- Market Sentiment: Positive news, combined with broader crypto market recovery phases, can fuel rapid price appreciation.
Still, reaching $10 will require sustained buying pressure, wider adoption, and possibly further positive regulatory clarity. While the run to $10 might not be immediate, this milestone is now more plausible than ever.
The long-term price action of XRP suggests the latest price action has not only helped the price to rise above the consolidation but also has laid the foundation for a strong upswing. The weekly MACD is about to undergo a bullish crossover, while the price has broken above the bull flag. Therefore, the next price action is expected to mirror the 2024 breakout, which may push XRP towards the ascending trend line at $9.23, which could be the peak of the upcoming bull run.
Meanwhile, there are a few points to look at in the coming days that may heavily influence the XRP price rally, like regulatory updates, Ripple’s business developments, market sentiment and technicals.
