The development of a third political party that is between Democrats and Republicans is very unlikely to occur. This would be extremely difficult considering the history and funding of the Democratic and Republican parties. These two political parties have been around for over a century and constantly receiving billions of dollars worth of campaign contribution on a yearly basis.
Along with this, you can see that anyone that runs as a third party candidate has little success. The US Congress is primarily made up of Democrats and Republicans. For example, the US Senate is currently made up of 51 Republicans, 47 Democrats, and 2 Independents. This shows that the chances of creating a third political party that is legitimate is almost impossible.