XRP surpasses BlackRock: market cap at 178.4 billion, entry into the top 100, and anticipation for the ETF

Market cap XRP ≈ 178.4 billion dollars

The market cap is calculated as price (≈3 $) x circulating supply (≈59.5 billion), indicating an increase in institutional and retail interest.

Top 100 assets: XRP is among the hundred assets with the highest global capitalization.

Price: area ~3 $, after a recent high around 3.65 $ (data from aggregators, [data to verify]).

Spot ETF on XRP: hypothesis under evaluation; currently, there is no official SEC approval for a spot ETF on XRP (SEC).

Risks: high volatility, regulatory uncertainty, and macroeconomic variables.

Industry analysts we consulted highlight how regulatory developments over the past two years have progressively reduced some of the uncertainty regarding the legal status of XRP, influencing capital flows.

Moreover, the analysis of trading volumes on centralized exchanges shows peaks of participation corresponding to news and macro announcements.

The market cap surpass of XRP: what happened and why it matters

The capitalization of XRP has reached about 178.4 billion dollars, a level that, in certain measurements and based on the calculation method (price x circulating supply), allows the cryptocurrency to position itself in a competitive ranking among global assets. An interesting aspect is that, despite different readings depending on sources and timing, the data highlights a sustained crypto momentum in a phase of renewed institutional and retail attention.

The comparison has mainly a symbolic value: it compares a digital asset and a financial blue chip, demonstrating how digital finance is continuously infiltrating the hierarchies of global capital. It should be noted that the scenario remains fluid and can change rapidly due to the intrinsic volatility of the market and price fluctuations.

Key numbers and recent changes of XRP

• Market cap XRP: ~178.4 billion $ (calculated as current price x circulating supply, ≈3 $ x ≈59.5 billion; sources: CoinMarketCap, CoinPaprika).
• Market cap BlackRock: recently recorded a value around 149 billion $ according to some estimates, although data may vary between sources (CompaniesMarketCap) [data to verify].
• Recent high of XRP price: ~3.65 $ in mid-July (aggregated data, [data to verify]).
• Current price: area ~3 $ (with intra-day variations).
• Volatility: high, with increasing volumes during periods of higher activity.

Market cap and price trend of XRP

Since the beginning of the year, the XRP chart shows an upward trend with the breaking of the psychological threshold of 3 $, interspersed with technical corrections.

In this context, the dynamic appears consistent with typical crypto market patterns: accelerations in the presence of catalysts, followed by consolidation phases linked to profit-taking and regulatory uncertainties.

Operational trends for XRP

• Increasing volumes on breakouts, a signal of active investor participation.
• Narrower spreads during periods of high liquidity.
• Intra-day movements characterized by wide excursions.

The drivers of XRP’s run: between regulation and flows

The increase in XRP’s market cap can be attributed to several factors:

• Regulatory framework: perceived as clearer than in the past and signs of progress in key legal issues; relevant judicial decisions of 2023 and subsequent developments have impacted sentiment (see citation at the bottom).
• Institutional interest: growing towards digital assets with high potential for use.
• Positive sentiment on the crypto sector in general, with inflows during breakout phases.
• Short-term speculation that amplifies price movements.

Spot ETF on XRP: state of the art and possible effects

The prospect of a spot ETF on XRP is at the center of the debate: a potential regulatory green light could facilitate access for traditional investors, stabilize capital flows, and reduce market frictions, such as spreads and slippage, in particular market phases. Currently, there is no SEC approval for a spot ETF on XRP; the SEC remains the reference authority for any filings and official decisions, as indicated in the filing notice of a proposed rule change to list and trade shares of the Bitwise XRP ETF.

Possible impacts in case of approval

• Significant inflows from funds and wealth managers.
• Greater book depth and stability in market volumes.
• Tactical rebalancing in multi-asset portfolios with exposure to large-cap crypto.

Quick comparison: XRP vs BlackRock (currently)

Risks and variables to monitor

• Volatility: strong price fluctuations that can trigger sudden sell-offs; for more on risk dynamics see our dossier on crypto volatility.
• Regulation: outcomes of decisions in the USA and other jurisdictions, particularly regarding spot ETFs.
• Concentration: distribution of supply and liquidity dynamics on major exchanges.
• Macro factors: interest rates, dollar trends, and global investors’ risk appetite.

Methodology and sources

• Crypto market cap calculation: spot price x circulating supply; it is essential to distinguish between circulating and total supply.
• Divergences among aggregators: different quotes, exchange coverage, and update timings can produce temporary discrepancies in rankings.
• Public references:
  • CoinMarketCap — XRP
  • CoinGecko — XRP
  • CompaniesMarketCap — asset ranking
  • CompaniesMarketCap — BlackRock market cap

Final analysis

The surpass of XRP over BlackRock in terms of capitalization, although potentially temporary and subject to calculation methodologies, highlights a paradigm shift for digital assets. It should be noted that the next moves will depend on the evolution of the regulatory framework (including the examination of spot ETFs on XRP), institutional inflows, market liquidity, and macroeconomic conditions. In this context, continuous data updates and attention to sources remain essential elements.

Regarding the judicial framework that influenced market sentiment, key decisions date back to July 13, 2023, and subsequent developments: we refer to authoritative reports for chronological reconstruction and court documents. In particular, developments related to the SEC appeal and subsequent public statements have had measurable impacts on volumes and prices.