Gibbon Falls is near the edge of the Yellowstone Caldera. A good place to see the caldera rim is between there and Madison Junction.
Frequently I hear the question “Is Yellowstone about to blow?” as I run into acquaintances here at Lake Park Retirement Center. My best answer is usually “Not on my watch” or maybe “I’m going there again soon, and I definitely don’t worry about that.” We have treated the supervolcano issue in several posts on this website in recent years. Here also is a recent reassuring statement I found thanks to the Yellowstone Insider website. The news was about a 100-foot-long fissure found near Hidden Falls in Grand Teton National Park.
Yellowstone’s magma chamber, most geologists agree, currently does not contain the volume of magma needed for such a large-scale eruption, and the process of replenishing that chamber occurs on slow timescales. The USGS considers the risk of a caldera-forming apocalypse at Yellowstone in the next couple of thousand years to be “exceedingly low.”
In short, if a volcanic super-eruption at Yellowstone Park were imminent, the signs would be much clearer than a 100-foot crack in a rock wall. (Source: https://www.snopes.com/news/2018/07/18/fissure-opens-near-yellowstone-causing-park-closures-irresponsible-headlines)
Photo credit: Leslie Kilduff, 1996. The photo has been reproduced in Yellowstone Treasures from the first edition to the current fifth edition, where you can find it on page 290.