Ripple’s XRP Reenters Global Top 92 Assets With Its Market Cap Surpassing Banking Giant Citigroup ⋆ ZyCrypto

Ripple-affiliated XRP cryptocurrency has carved out a new milestone in its journey toward mainstream finance, reentering the list of the 92 most valuable assets worldwide by market capitalization.

The token has been on a meteoric tear in recent weeks amid a broader crypto market rally, propelled by converging macroeconomic and market forces that are driving investors into riskier assets.

At a current price of $3.16, XRP, currently the third-largest cryptocurrency by value, has pumped by about 12.7% over the last week. The price increase has pushed XRP’s market capitalization once again above the $188 billion mark, currently at $188.66 billion, according to data tracked by CoinGecko.

With a market valuation of $188.6 billion, XRP has outpaced American banking behemoth Citigroup, whose market capitalization currently stands around $183 billion, and Canadian multinational e-commerce company Shopify, whose market cap hovers at $185.9 billion.

XRP’s recent strong price action comes on the back of regulatory clarity in Europe. As ZyCrypto reported earlier this week, Ripple recently announced an expanded partnership with Spanish bank BBVA, enabling digital asset custody and settlement solutions under EU MiCA compliance standards. This new partnership fueled optimism that traditional banks might deepen adoption of blockchain settlement.

XRP ETF Speculation Builds

Meanwhile, spot exchange-traded fund (ETF) speculation continues in the United States. The Securities and Exchange Commission has yet to greenlight a spot XRP ETF, though futures-based funds are already live on the US market.

Six asset managers, including Grayscale, Franklin Templeton, and Bitwise, have submitted paperwork to the U.S. regulator for spot XRP ETFs, with decisions expected in October.

Ripple’s recent legal settlement with the SEC has improved regulatory clarity, boosting industry estimates to a 90% likelihood of ETF approval before the end of the year.