Ripple's XRP Surpasses BlackRock's Market Cap

Ripple's XRP has reached a significant milestone, surpassing BlackRock, the world's largest asset management company, in market capitalization. As of January 15, 2025, XRP's market capitalization reached an impressive $162 billion, surpassing BlackRock's $154 billion. This achievement also elevates XRP above globally recognized brands such as Coca-Cola, Disney, and Nike, marking a new chapter in the increasing influence of cryptocurrency in traditional finance. XRP's price surge amid the cryptocurrency rally The continuous price increase in the cryptocurrency market, driven by optimism surrounding the upcoming inauguration of US President-elect Donald Trump on January 20, 2025, has boosted the value of some digital assets, with XRP being a clear beneficiary. The price of XRP has surged to $2.8, the highest level since December 2024. In just the past 24 hours, XRP has recorded a staggering 9% surge, while the weekly and monthly growth rates are 21.54% and 18.67% respectively. Over the past two weeks, the price of this currency has risen from about $2 to nearly $2.9, and its market capitalization has increased significantly by $31.6 billion. Accumulation signals indicate strong investor confidence Data on the Santiment chain highlights strong accumulation activity among XRP whales. Wallets holding 1 million to 10 million XRP have increased their holdings by 37% in the past two months, adding approximately $3.8 billion in XRP value. This significant accumulation is a key driver behind the recent price increase of this currency. Santiment has shared detailed information on social media as follows: "🐳📈 XRP investors are very happy to see the market capitalization of this number 3 asset reach $2.69 today for the first time since December 17, 2024. This is supported by continuous massive accumulation from wallets holding 1 million-10 million XRP, who own more than 37% of the money compared to 2 months ago…" Technical analysis: The path to $3 and beyond? The price fluctuations of XRP reflect the price increase structure in lower time frames, characterized by higher highs and lower lows. Buying activity near the Fibonacci retracement levels of 0.5-0.618 has contributed to the upward momentum of this currency. However, cautious analysts about XRP's performance in the $2-$3 range, as trading volume remains relatively low. To confirm a sustainable price increase for XRP, it needs to break through $3. Otherwise, this currency may consolidate within the current range, delaying further price growth. Cryptocurrency analyst Bobby A has given an optimistic outlook, noting that XRP's dominance in the cryptocurrency market (XRP.D) is aiming to reach 14% of the total market capitalization, in line with the 4.236 Fibonacci expansion level. With the global cryptocurrency market capitalization at around $3.3 trillion, achieving this dominance could push XRP's price above $7.80. BlackRock's strategic approach to cryptocurrencies Despite being overtaken by XRP, BlackRock remains a strong supporter of cryptocurrency. Robbie Mitchnick, BlackRock's digital asset director, emphasized the increasing adoption of Bitcoin by institutions and described it as a decentralized, scarce asset with no traditional risks. Speaking to Bloomberg, Mitchnick declared, "Bitcoin is a non-sovereign, global, and scarce asset that is not bound by specific national risks or concerns about traditional counterparts." Mitchnick emphasized the success of BlackRock's iShares Bitcoin Trust (IBIT) ETF in 2024, which has fueled increasing interest from institutional investors. However, he clearly stated that BlackRock's approach differs from companies like MicroStrategy, prioritizing conservative strategies, focusing on investors rather than aggressive accumulation. "We do not buy and sell Bitcoin for ourselves," Mitchnick explained. "This is for our investors. We do not need a Bitcoin ETF with three times leverage. This asset has enough volatility without it." The road ahead for XRP and traditional finance The rise of XRP on BlackRock signals an increasing influence of cryptocurrencies on the global financial market. As XRP's market capitalization continues to grow and its price trend strengthens, analysts remain optimistic about its potential to reshape the financial landscape. Meanwhile, traditional financial giants like BlackRock are cautiously embracing cryptocurrencies, aiming for a balance between innovation and stability. With the rapidly changing market, the competition between traditional finance and blockchain-based assets like XRP may intensify even further in the coming years.