​​XRP re-enters top-3 cryptocurrencies, overtakes BlackRock in market cap

XRP’s (XRP) 31.5% price surge since the start of the year has pushed its market capitalization past that of the asset manager BlackRock, reclaiming its position as the third largest cryptocurrency. 

XRP is back in the top 3 after flipping Tether

XRP continued its surge into January, popping to $2.89 for the first time since Dec. 3, 2024,  and Tether USD (USDt) to become the third largest cryptocurrency by market capitalization.

With a market capitalization exceeding $159 billion, XRP now ranks only behind Bitcoin (BTC) and Ether (ETH). It is now valued more than Tether USDt, a dollar-pegged stablecoin that has slipped to fourth place with a market value of $137 billion.

XRP’s meteoric price performance can be attributed to a growing number of key partnerships, new product developments from Ripple Labs, including the recent launch of Ripple’s stablecoin RLUSD, the possibility of a spot XRP ETF, and the expected resignation of Securities and Exchange Commission’s (SEC) Chair Gary Gensler.

XRP’s market cap surpasses BlackRock

Ripple’s XRP has also achieved a historic milestone by surpassing the market capitalization of BlackRock, the world’s largest asset manager. As of Jan. 15, BlackRock’s market cap stands at $149 billion.

XRP’s market cap rose 6.7% in the past 24 hours, pushing the cryptocurrency’s valuation to $9.46 billion higher than BlackRock’s.

Cointelegraph reported that XRP has also flipped the market cap of entertainment giant Disney by $2 billion.

Related: XRP spikes 12% as whales continue ‘enormous accumulation’ — Santiment

XRP gains momentum ahead of Trump presidency

XRP’s massive rally began after Donald Trump emerged victorious in the Nov. 5, 2024, US Presidential Election, which boosted broader market sentiment driven by expectations of pro-crypto policies under the incoming administration.

XRP has gained momentum again ahead of Trump’s inauguration on Jan. 20, fueled by reports that the incoming president could issue a flurry of pro-crypto executive orders on his first day back in the White House.

Adding to XRP’s tailwinds is the expected resignation of SEC Chair Gary Gensler on the same day. Under Gensler’s tenure, which started in 2021, the SEC took an aggressive regulatory stance toward crypto, including Ripple’s case with the SEC, in which a court found the firm liable for $125 million in August 2024.

Speculation around a spot XRP exchange-traded fund (ETF) has also boosted XRP price. According to giant bank JP Morgan, spot XRP ETFs could attract $4 billion to $8 billion in new assets within the first five months. 

Amid such positive factors, market participants have been left speculating about how high XRP price can go in 2025.

“XRP is breaking higher highs with strong momentum!” pseudonymous analyst BitBelleza told his over 60,000 followers on X, adding that clarity at the SEC, “RLUSD launch, and potential ETF approval” could propel XRP to $4 or $5 in the short-term and as high as $27 by the end of 2025.

“Trump’s pro-crypto policies could fuel the rally further, sit tight!”

Fellow analyst Crypto Jebb has set a moderate target for XRP this cycle, predicting that the altcoin will rally to between $5.30 and $8.70 in 2025.

However, some analysts are now predicting double-digit targets for XRP price as it gets closer to breaking its all-time high of around $3.30.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.