Ripple-promoted token XRP has flipped Tether’s USDT ($1.00) stablecoin to claim its spot as the third-biggest crypto by market cap, trailing only Bitcoin (BTC ($104,243.47)) and Ethereum (ETH ($3,258.90)). XRP nearly touched the elusive $3 mark on Wednesday morning, reaching a level not seen since 2018.

XRP’s meteoric price performance comes amid reports that pro-crypto Securities and Exchange Commission (SEC) commission...