Here’s the current state of XRP’s market capitalization:

What’s Happening with XRP’s Market Cap?

Current Market Cap Snapshot

CoinMarketCap reports XRP’s market cap at $185.5 billion, with a circulating supply of about 59.24 billion XRP .

CoinGecko lists it at approximately $186 billion, with similar supply figures .

DigitalCoinPrice confirms a market cap in the $185–$191 billion range .

So, as of today (August 12, 2025), XRP’s market cap typically ranges between $185 billion and $190 billion, placing it comfortably among the top three cryptocurrencies by total valuation.

Why This Matters (and Why It’s Controversial)

Market Cap Is Price × Supply

The formula is simple: Market Cap = Price × Circulating Supply. However, this doesn’t necessarily reflect the total amount of money people have invested in XRP—it merely multiplies the current price across all coins in circulation .

As one user put it:

“An inflow of $80 million into XRP, and the market cap grew about $17 billion… That is a market cap multiplier of about 212×.”

Discrepancy with Actual Usage

Despite XRP’s high valuation, on‑chain activity remains relatively modest:

Its Market Cap is currently 2,200× its Total Value Locked (TVL) on XRPL.

It’s even ~363,000× its annualized fee revenue .

This suggests that the valuation is heavily driven by speculative sentiment and investor optimism—particularly around potential institutional adoption and regulatory clarity—rather than actual network demand or usage.

Summary (In Post Format)

Title: XRP’s Market Cap Soars—What Lies Behind the Numbers?

Body:

As of mid‑August 2025, XRP’s market capitalization sits between $185B and $190B, ranking it among the top three cryptocurrencies globally. But what exactly does that figure mean—and should it be taken at face value?

It’s price × supply—not cash collected: Market cap only demonstrates theoretical valuation, not the real money invested. A small surge in demand can dramatically inflate the number.