Tether (USDT) has outperformed XRP and becomes the third largest crypto currency by market capitalization, as Ripple fails to achieve adoption among retail investors.
As for Ripple (XRP), it has been a race to the bottom, its market capitalization having collapsed from a peak of around $130 billion in January 2018 to less than $9 billion today. At one point,
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was competing for the number two position with Ether (ETH), however, currently, the combined market capitalization of XRP and USDT is still $5 billion behind Ether.
Bitcoin has 140 times more active addresses per day than XRP
USDT trading volume dwarfs XRP
Perhaps part of the problem for XRP is the lack of traction with retail investors. In terms of daily trading volume, the USDT outshines XRP. The average daily volume of the USDT in May has exceeded the XRP by a factor of 25.
New Study Explains Why XRP Falls on Weekends
USDT vs. XRP volume. Source: Cointelegraph, CoinMarketCap
USDT volume vs. XRP. Source: Cointelegraph, CoinMarketCap
3 Bitcoin price metrics just converged, a bullish run is what has always followed
But this doesn’t mean the race for third place is over. With a decent rebound, XRP could overtake the rival stablecoin, which can’t move up or down by more than a few percentage points.