In Australia we used ranked choice combined with mandatory voting, which fixes most of the issue plaguing the US.
For example, "our" Trump is Pauline Hanson, a vile, racist, anti-immigration candidate. She is likely to get a lot of votes because immigration is a problem -- the two major parties are in bed with big businesses, which are making billions of dollars of profit (each), most of which is directly or indirectly caused by high immigration.
In the US, people felt they had no choice but to vote someone like Trump in to get "change".
Here, the current party in power (Labor) has immediately committed to lowering immigration numbers and has also started working on related crises.
Why?
Because of they don't, then One Nation will make preferential voting pacts with their opposition and they'll lose seats next election even if One Nation wins zero seats.
This forces parties to negotiate, even outside of the peak of the election cycle.
You can't just ignore a "minority interest" where there minority is actually just shy of half the population, like can happen with first-past-the-post.
Similarly, "Vote Splitting" doesn't really work, because two similar candidates will recommend each other in the preferential voting.