Due to the soaring price of Ripple's XRP, the company's market capitalization exceeded $150 billion, making it one of the top 100 corporations in the United States.
The value of the digital asset has more than doubled in the last month, reaching $2.82 on December 3, outperforming Bitcoin by a whopping 200%, according to data from CryptoSlate.
Although the price of XRP has rebounded slightly to $2.61 at the time of writing, the asset still posted an impressive 409% increase after the US elections in November.
Nevertheless, the surge has lifted XRP's market capitalization to about $150 billion, more than five times the increase from about $28 billion at the beginning of November. XRP currently ranks as the third-largest cryptocurrency after Bitcoin and Ethereum, but ahead of Tether's USDT stablecoin, Binance-backed BNB Coin, and Solana Network.
Market analysts attribute this growth to several factors, including increased interest from institutional investors. There is also optimism that a more crypto-friendly regulatory environment under the next administration could bring further benefits to both XRP and Ripple.
XRP company comparison
If XRP were classified as an independent company, its market capitalization would rank among the top 100 U.S. companies, surpassing well-known companies like Nike and financial institutions like Charles Schwab, according to CompanyMarketCap data. .
Further analysis by Stock Analysis suggests that XRP is the 68th largest company in the S&P 500, accounting for more than 86% of the stocks in the index.
Specifically, XRP will be valued higher than pharmaceutical giants Pfizer ($144 billion), Citigroup ($136 billion), and defense contractor Lockheed Martin ($122.5 billion). However, it will fall behind BlackRock, the world's largest asset management company, with a market capitalization of $160 billion, and Uber, a ride-hailing company valued at $150 billion.
XRP's market value is also more than three times that of NASDAQ's $46.55 billion and gaming company Electronic Arts' $43.98 billion.
The S&P 500 index tracks the 500 largest publicly traded companies in the United States and is an important performance benchmark for the U.S. stock market. Although it is not based solely on market capitalization, it is widely considered an important indicator of the performance of major US stocks.
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