Ripple’s XRP has officially broken into the top 100 global assets by market capitalization, a milestone that places it alongside some of the world’s most valuable companies like Shopify, Intuit, and Deutsche Telekom.
backing of a regulated spot ETF in the United States, unlike its crypto counterparts Bitcoin and Ethereum, which are also on the list of the largest global assets.
XRP Joins The Rank Of World’s Top Assets
At the time of writing, XRP is the 97th largest asset by market cap, the third cryptocurrency in the list behind Bitcoin at 7th and Ethereum at 22nd. XRP’s climb to this milestone can be traced to a wave of inflows that have been pouring into the asset in recent months. The scale of these inflows has been enough to push XRP’s market cap above BNB and stablecoin Tether USDT, making it the third-largest cryptocurrency by market capitalization.
Institutional and retail investors have been drawn to XRP following the establish a new support base at $3.
Crossing into the ranks of the world’s top 100 assets shows how XRP is faring compared to companies outside the cryptocurrency market. At its current valuation, XRP is now on the tails of some of the most recognized global corporations, like Verizon, Texas Instruments, Shopify, and Intuit.
Top assets by market cap: CompaniesMarketCap
The Case For More Growth With A Spot XRP ETF
Bitcoin and Ethereum start of a much larger climb.
The absence of ETF-driven inflows means that XRP has significant untapped potential waiting to be unlocked through financial institutions like BlackRock, Fidelity, and Grayscale once regulatory approval for a Spot XRP ETF arrives in the US. Such a trading instrument would open the door for large-scale institutional investors who have so far been restricted in accessing XRP exposure.
If the same inflow patterns seen in Bitcoin and Ethereum ETFs are seen again with XRP, its market capitalization could easily push past its current peers in the top 100 global asset rankings alongside its price.
At the time of writing, XRP is trading at $3.04. Expectations tied to the eventual approval of Spot XRP ETFs stretch from moderate projections of $4 to ambitious forecasts of as high as $1,000.
Featured image from Unsplash, chart from TradingView
