Ranked Choice Voting doesn’t make third parties viable, either. It uses the same counting method as our current system (tally up people’s first-choice preferences) and therefore suffers from all the same problems, like vote-splitting, spoiler effect, and center-squeeze effect. You can’t fix the problems of FPTP by adding more rounds of FPTP. If you want third parties to be viable, you want real reforms like STAR Voting, Condorcet RCV, or Approval Voting.