XRP has reached a milestone! Its market capitalization has surpassed USDT, jumping to Top 3 in the Crypto Assets ranking.

Today, XRP Token has become the market focus, achieving a significant leap in its Crypto Assets market capitalization, successfully surpassing the stablecoin market capitalization of Tether (USDT), climbing to the third position in the Crypto Assets ranking. As of the time of this report, the total market capitalization of XRP has soared to $168.32 billion, significantly higher than USDT's $159.54 billion.

However, despite showing such strong bullish momentum, the price movement of XRP has not been able to successfully test its key long-term resistance level— 2.90 USD.

Is XRP momentum building up? Whale holdings reach record levels!

Moreover, recent insights from Nick of Equities Tracker and Brian of Santiment reveal signs of the strengthening fundamentals of XRP. They point out that the number of wallet addresses holding over 1 million XRP has surged to a record 2,743—a clear indication of increasing crypto whale activity and heightened large accumulations of XRP.

The simultaneous increase in the number of whale wallets and their total coin holdings may indicate that the market's long-term confidence in XRP is significantly strengthening.

Trump's tariff impact is short-lived, the crypto market demonstrates resilience

It is worth noting that after President Trump announced the 30% tariff plan against the EU and Mexico, XRP and the entire market did indeed experience a brief drop. This sudden policy news disturbed both the crypto assets market and the traditional financial market, but the impact was relatively short-lived.

As of the time of publication, the broader Crypto Assets market has rebounded, with the total market capitalization of cryptocurrencies recording a 1.16% increase. This rebound occurs while traditional markets are still digesting the impact of tariff news, highlighting the short-term resilience of Crypto Assets.

Is the Bitcoin season cooling down? The market is reacting unusually "calmly"

Meanwhile, Bitcoin (BTC) prices continue to rise steadily, having successfully broken through the $120,000 mark on the chart. However, the market reaction appears unexpectedly calm.

Analyst Brian pointed out that this reaction may be "too calm", suggesting that there may be an undercurrent of cautious optimism or investor fatigue in the market.

"Compared to the previous breakthrough of the historical high, the atmosphere of celebration this time seems a bit muted."

Is the season for altcoins approaching? Market expectations are rising

Against the backdrop of the intertwined multiple market dynamics, the entire Crypto Assets sector's market expectations are building up. Many observers speculate that a genuine altcoin season may be imminent. In fact, AMBCrypto's latest analysis also echoes this market sentiment—suggesting that the encryption market momentum may be undergoing a shift.

In addition, Alphractal pointed out that the US Economic Policy Uncertainty Index (US EPU Index) has been steadily declining recently, a trend that typically benefits the performance of Crypto Assets and other risk-on assets.

However, the dominance of Bitcoin remains a key variable

On the contrary, according to the CoinMarketCap (CMC) Altcoin Season Index, Bitcoin's market dominance (BTC Dominance) is currently still at a high level. This means that the current market phase is still led by Bitcoin.

CPI Data Sets the Stage: The Crypto Market Faces a Key Test

Therefore, the US June Consumer Price Index (CPI) report to be released on July 15 will be a key factor in determining the short-term Crypto Assets market trend. The market predicts that this data will show a month-on-month growth of 0.3% and a year-on-year growth of 2.6% (up from 2.4% in May).

At the same time, core CPI is also expected to grow by 0.3%. All market participants are focused on this: will this key inflation data trigger a new round of rebound in the Crypto Assets market, or will it lead to a sharp price correction?