Ripple's XRP has officially entered the top 100 global assets by market capitalization, a milestone that places this coin alongside some of the world's most valuable companies like Shopify, Intuit, and Deutsche Telekom.
According to the latest data, XRP currently has a market capitalization of approximately $181.2 billion with a price of $3.02 per token, ranking over 100 on the global leaderboard. Notably, XRP has made it to this exclusive list without the support of a managed spot ETF in the U.S., unlike similar cryptocurrencies like Bitcoin and Ethereum, which are also on the list of the largest global assets.
XRP Enters the Global Top Asset Rankings
At the time of writing, XRP is the 97th largest asset by market capitalization, being the third cryptocurrency on the list, after Bitcoin at 7th and Ethereum at 22nd. The surge of XRP to this milestone may stem from the wave of capital inflows into this asset in recent months. The scale of this capital inflow has been enough to push XRP's market capitalization past BNB and the stablecoin Tether USDT, making it the third-largest cryptocurrency by market capitalization.
Institutional and individual investors have been attracted to XRP after the conclusion of the legal battle with the U.S. Securities and Exchange Commission (SEC). This confidence, combined with the overall optimism in the cryptocurrency market, has helped XRP's price establish a new support level at $3.
Entering the top 100 global assets demonstrates how well XRP is performing compared to companies outside the cryptocurrency market. At the current valuation, XRP is now aligned with some of the most well-known global corporations, such as Verizon, Texas Instruments, Shopify, and Intuit.
Reasons for Stronger Growth with Spot XRP ETF
Bitcoin and Ethereum have attracted strong interest from institutions over the past 18 months thanks to the launch of managed spot ETFs in the U.S. On the other hand, XRP has achieved its current position without such an instrument. Therefore, XRP's current milestone may just be the beginning of a much larger advance.
The absence of investment flows from ETFs means XRP has significant untapped potential, waiting to be unlocked through financial institutions like BlackRock, Fidelity, and Grayscale when U.S. regulators approve a spot XRP ETF. Such a trading instrument would open the door for large-scale institutional investors, who have so far been limited in their access to XRP.
If the inflow cash flow pattern similar to that in Bitcoin and Ethereum ETFs emerges in XRP, the market capitalization of this coin could easily surpass the current coins on the top 100 global asset leaderboard along with its price.
At the time of writing, XRP is trading at $3.04. Expectations regarding the eventual approval of spot XRP ETFs range from a modest forecast of $4 to an ambitious forecast of up to $1,000.
