Ripple’s XRP has taken cryptocurrency by storm and is now taking over traditional financial firms. According to on-chain data, XRP has surpassed BlackRock, the world’s largest asset manager, in market capitalization.
As of January 15, 2025, XRP’s market cap is $162 billion, surpassing BlackRock’s $154 billion. This market cap also puts it ahead of globally recognized brands such as Coca-Cola, Disney, and Nike.
Cryptocurrencies have surged on a Trump rally ahead of his inauguration on January 20, 2025. Ripple's market cap now appears to be a beneficiary of the price surge.
On-chain data shows that the coin reached $2.8 for the first time since December 17, 2024. In the last 24 hours, XRP recorded a spike of 9%, while its weekly and monthly growth stood at 21.54% and 18.67%, respectively.
A comparison of Ripple's and BlackRock's XRP market cap. Source: X
The price of XRP has surged from a low of around $2 to nearly $2.9 in the past two weeks. The asset’s market cap has also increased to approximately $31.6 billion.
XRP Market Activity Increases, Outlook Turns Bullish
Data shared by Santiment, an on-chain analytics platform, shows significant accumulation activity. Currently, wallets holding 1M to 10M XRP have increased their holdings by over 37% in the past two months.
This represents an increase of approximately $3.8 billion worth of XRP since its accumulation began on November 12, 2024.
🐳📈 XRP investors are pleased to see the#3market cap asset hit $2.69 today for the first time since December 17, 2024. This is being supported by the ongoing massive accumulation of wallets holding 1M-10M XRP, which hold over 37% more coins than 2 months ago… pic.twitter.com/G3a3N5iSAS
— Santiment (@santimentfeed) January 14, 2025
XRP’s market behavior shows a bullish structure on lower time frames, characterized by higher highs and lower lows.
Furthermore, strong buying activity near the 0.5-0.618 Fibonacci retracement levels contributed to its recent upward price spikes.
However, despite Trump’s steady rally, the coin is seeing weak trading levels between $2 and $3. Now, analysts are stressing the need for a breakout to confirm a new trend.
XRP/USDT trading data. Source: TradingView
A price move toward $3 could further validate a continuation of the uptrend that traders have seen since November. Without such a breakout, analysts expect a consolidation within the current range to remain stalled.
Cryptocurrency analyst Bobby A noted on X that XRP.D, which measures Ripple’s market cap dominance, is aiming for approximately 14% dominance. This is at its 4.236 Fibonacci extension.
According to the trading chart analyst, with the overall cryptocurrency market cap currently at $3.3 trillion, gaining 14% dominance would boost XRP’s value above $7.80.
BlackRock maintains bullish stance on cryptocurrencies
Robbie Mitchnick, head of digital assets at BlackRock, recently shared the asset management firm’s insights into the evolving role of cryptocurrencies. In an interview with Bloomberg, Mitchnick described Bitcoin as a non-sovereign, scarce, global and decentralized asset, free from country-specific risks or traditional counterparty concerns.
It looks like Satoshi Nakamoto has achieved the goal he had 16 years ago.
Mitchnick also spoke about the adoption of the crypto market. He stated that the relationship between institutional investors and BTC is still in its early stages. Mitchnick also called the performance of BlackRock’s IBIT spot Bitcoin ETF in 2024 impressive.
He believes that more institutions and financial advisors will seek to attract more resources this year.
However, Mitchnick emphasized that BlackRock does not want to be compared to MicroStrategy when it comes to Bitcoin investments. Unlike MicroStrategy, which is known for its aggressive leverage-based Bitcoin accumulation strategy, BlackRock is leaning towards a more conservative, investor-focused approach.
“We’re not buying and selling Bitcoin for ourselves. This is for our investors,” Mitchnick reiterated. “We don’t need a triple-leveraged Bitcoin ETF. The asset has enough volatility without it.”
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