XRP’s Market Cap Surpasses that of Wall Street Giant Goldman Sachs After Rising to 7-Year High
XRP’s Market Cap Surpasses that of Wall Street Giant Goldman Sachs After Rising to 7-Year High The price of the native token of the XRP Ledger has surged by more than 44.5% so far this year significantly outperforming the wider cryptocurrency market and boosting its market capitalization to nearly $200 billion. The surge has seen XRP’s market cap surpass that of Wall Street giant Goldman Sachs, with data from Google Finance showing the financial institution currently has a market capitalization of $192 billion. Meanwhile XRP boasts a $193 billion market capitalization after its price exploded, effectively cementing its position as the third-largest digital asset by the metric. It’s still far behind Ethereum’s $400 billion market cap, and Bitcoin’s $1.9 trillion. XRPUSD chart via TradingViewXRP is outperforming the broader cryptocurrency market due to several factors, including a recent report from JPMorgan that indicates the potential for a spot exchange-traded fund (ETF) to attract billions of dollars in investor funds. XRP, as most digital assets, started surging on expectations of a more crypto-friendly regulatory environment under President-elect Donald Trump’s administration. Anticipated policy shifts, including the establishment of a strategic Bitcoin reserve and the appointment of Paul Atkins as head of the SEC, have boosted investor confidence. Atkins, is worth noting, is seen as a crypto-friendly figure to head the regulator, which has been embroiled in a legal battle with Ripple — a major player in the XRP ecosystem — over the firm’s XRP sales. Trump’s pro-crypto stance has seen many speculate that XRP could soon see the launch of a spot ETF offering exposure to it. Several companies have already filed for spot XRP ETFs, including Bitwise, Canary Capital, WisdomTree, and 21Shares. Ripple’s CEO Brad Garlinghouse has suggested such a fund is “just inevitable.” Featured image via Pexels. XRP’s Market Cap Surpasses that of Wall Street Giant Goldman Sachs After Rising to 7-Year High /latest/2025/01/xrps-market-cap-surpasses-that-of-wall-street-giant-goldman-sachs-after-rising-to-7-year-high/ /latest/2025/01/solana-sol-surpasses-100-billion-market-capitalization-amid-crypto-market-rally/ Disclaimer The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.