Following a period of intense trading activity, XRP surpassed USDT to secure the position of the third-largest cryptocurrency by market capitalization. This achievement was short-lived, as USDT quickly reclaimed its standing an hour later.

While the data indicates the source of this market cap increase, determining the precise reason behind traders' actions remains challenging. Although the SEC resolved the Ripple case recently, XRP's trading volume experienced a significant surge today.

XRP's market cap approached $150 billion subsequent to the conclusion of the SEC vs. Ripple lawsuit, leading to heightened interest and trading activity. In the past 24 hours, XRP's trading volume surged by more than 100%, propelling it past USDT to rank as the third-largest cryptocurrency by market cap.

The rapid ascension of XRP's market cap above that of USDT is noteworthy, particularly amidst a flourishing stablecoin market. However, the influence of trading volume on market cap prominence is evident.

Analysts suggest that a relatively marginal increase in trading volume caused a substantial rise in XRP's market cap. It is challenging to pinpoint a specific macroeconomic factor behind this surge, especially considering that most of the substantial increase in trading volume occurred today despite the SEC settlement last week.

The spike in trading volume, potentially catalyzed by a single trader or a small group transacting $61 million in XRP, complicates the narrative surrounding XRP's market success.

While the volume spike exerted a significant influence, it lacked fundamental stability. Following a subsequent decline in XRP's price, USDT regained its position as the third-largest cryptocurrency by market capitalization.

Simultaneously, positive developments are contributing to market optimism for XRP. Reports from the US suggest that Missouri might become the first state to exempt digital assets such as Bitcoin and XRP from capital gains tax. These favorable developments and ongoing market positivity could motivate traders to invest in "Made in USA Coins" like XRP.