After Ripples XRP surge, price now compares to Americas top 100 companies by market cap
Ripples 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.
Data from CryptoSlate shows that the digital asset, whose value more than doubled in the past month to as high as $2.82 on Dec. 3, significantly outperformed Bitcoin by a staggering 200%.
While XRPs 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 XRPs 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 Tethers USDT stablecoin, the Binance-backed BNB Coin and Solana network.
Market analysts attribute this growth to several factors, including growing institutional interest. There is optimism that a more crypto-friendly regulatory environment under the upcoming administration could further benefit both XRP and Ripple.
XRPs corporate comparisons
According to CompanyMarketCap data, if XRP were classified as a standalone company, its market cap would rank it among the top 100 US firms, surpassing notable companies like Nike and financial institutions like 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.
Specifically, XRP would be valued higher than pharmaceutical giant Pfizer ($144 billion), Citigroup ($136 billion), and defense contractor Lockheed Martin ($122.5 billion). However, it would trail behind BlackRock, the worlds largest asset management firm, with a market value of $160 billion, and Uber, the ride-hailing transportation company, with a valuation of $150 billion.
XRPs 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. While it is not exclusively based on market cap, it is widely regarded as a critical measure of the performance of major US equities.
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Text source: CryptoSlate
