Ripple’s XRP price surge propelled its market capitalization past $150 billion, which would place it among the top 100 companies in the United States if it were a corporate entity.
CryptoSlate’s data indicates that Bitcoin is significantly underperforming the digital currency, which has seen its value increase by more than 200% in just one month.
While XRP’s price has slightly retraced to $2.61 as of press time, the asset still registered an impressive 409% increase after the November US elections.
Nevertheless, this surge has helped boost XRP’s market cap to around $150 billion, a more than five-times increase from around $28 billion at the beginning of November. XRP now ranks as the third-largest crypto, trailing only Bitcoin and Ethereum but surpassing Tether’s USDT stablecoin, the Binance-backed BNB Coin and Solana network.
The growth in the market is attributed to several factors. One of them, according to analysts, is a growing interest from institutions. It is hoped that a crypto-friendly environment will be created under the upcoming administration. This could benefit XRP as well as Ripple.
XRP’s corporate comparisons
CompanyMarketCap’s data shows that if XRP was classified as a separate company, it would have ranked among the 100 largest US companies, beating out notable firms like Nike, and financial institutions such as Charles Schwab.
Further analysis with Stock Analysis suggests that XRP would be the 68th largest company in the S&P 500, surpassing 86% of the stocks within the index.
XRP, in particular, would have a higher valuation than the giant pharmaceutical Pfizer ($144 Billion), Citigroup ($136 Billion), and Lockheed Martin ($122.5Billion). However, it would trail behind BlackRock, the world’s largest asset management firm, with a market value of $160 billion, and Uber, the ride-hailing transportation company, with a valuation of $150 billion.
XRP’s market value would also be more than three times greater than that of NASDAQ, valued at $46.55 billion, and gaming firm Electronic Arts, worth $43.98 billion.
The S&P 500 Index, which tracks 500 of the largest publicly traded companies in the US, is a key performance benchmark for the American stock market. Although it does not base its calculation solely on market value, the S&P 500 Index is widely seen as an important measure for the performance of US major equities.
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