XRP Replaces Tether as 3rd-Largest Cryptocurrency While BTC Faces $384M Sell Wall:

XRP has surged more than 20% in 24 hours, leapfrogging Tether's USDT.

What to know:

1.XRP has surged over 20% in 24 hours, replacing Tether's USDT as the world's third-largest cryptocurrency by market value.

2.The bitcoin order book shows a large stack of sell orders around $100,000, one observer said.

3.BTC's dominance rate continues to slide.

XRP (XRP) is on a tear as bitcoin (BTC) struggles to approach $100,000 amid talk of a large "sell wall" near the six-digit price mark.

XRP, the payments-focused cryptocurrency, has skyrocketed 375% to $2.40 in 30 days.

The meteoric rise has lifted the cryptocurrency's market capitalization to $139 billion, replacing the leading dollar-pegged stablecoin, Tether's USDT, as the world's third-largest digital asset.

Bitcoin dominance has dropped by 5% over the past 12 days, breaking below the positive trendline established in June 2023. With significant resistance at $100K, the market is seeing a capital shift towards altcoins, supported by increasing liquidity.

Moreover, traders are increasingly rotating money out of bitcoin and into other cryptocurrencies. That's evident from the decline in BTC's dominance rate, or share of the crypto market, from 61.5% to 56.5% since Nov. 21.

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