Ripple Labs-backed XRP made headlines this week after briefly overtaking asset management giant BlackRock Inc. in market valuation, underscoring the shifting momentum in global finance. According to CoinMarketCap data, XRP’s market capitalization climbed to $176 billion, while its fully diluted valuation reached $296 billion.
The milestone comes despite recent turbulence, as XRP’s market cap had earlier peaked near $210 billion before pulling back during the latest correction.
Trading Volume and Market Activity
XRP’s trading activity has accelerated sharply. In the past 24 hours alone, nearly $6.9 billion worth of XRP changed hands across exchanges. Futures markets have also heated up, with open interest in XRP derivatives more than doubling from $3.87 billion in June to $8.1 billion by late August, according to CoinGlass.
For comparison, BlackRock, which oversees more than $10 trillion in assets, maintained a market capitalization of $187 billion and reported a daily average trading volume of just 591,000 shares. The disparity highlights XRP’s rapid global turnover and growing influence among investors seeking exposure to alternative assets.
What’s Driving XRP’s Breakthrough
Regulatory clarity has been central to XRP’s surge. Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC) was recently resolved after the Court of Appeals for the Second Circuit upheld a ruling in favor of Ripple. The outcome allowed Ripple Labs to refocus on business growth, while the Trump administration’s push for clearer digital asset policies, including support for the GENIUS Act and Clarity Act, further bolstered confidence in the sector.
Institutional appetite has also been building. Several asset managers, including CoinShares, WisdomTree, Franklin Templeton, Bitwise, 21Shares, and Canary, have submitted amended filings to list spot XRP exchange-traded funds (ETFs). Analysts see this as a sign of rising demand for regulated crypto investment products, which could help XRP secure a more permanent role in institutional portfolios.
Ripple’s Global Expansion
Ripple Labs continues to widen its international footprint. The company has pursued a U.S. banking charter and is enhancing its presence across Europe, Asia, and Latin America. Its blockchain-based payment solutions, including the Ripple USD (RLUSD), are designed to streamline cross-border settlements, strengthening XRP’s role in global financial infrastructure.
According to Ripple executives, the integration of RLUSD is expected to bridge traditional finance with digital payments, making XRP more attractive for large-scale commercial use.
Outlook
XRP’s brief leap ahead of BlackRock highlights the changing dynamics of modern markets, where digital assets can rival legacy financial institutions in value and influence.
With clearer regulations, mounting institutional interest, and Ripple’s expanding international strategy, XRP is cementing its position as one of the most pivotal players in the crypto industry.
The question now is whether XRP can sustain its momentum and potentially establish itself as more than a temporary rival to Wall Street heavyweights.
