Ripple’s XRP has won over crypto and is now taking over traditional finance firms. According to on-chain data, XRP has overtaken BlackRock, the world’s largest asset manager, in market capitalization.
As of January 15, 2025, XRP’s market cap sits at $162 billion, surpassing BlackRock’s $154 billion. This market milestone also places it ahead of globally recognized brands like Coca-Cola, Disney, and Nike.
Crypto coins have set off on a Trump rally ahead of his inauguration on January 20, 2025. Ripple’s market cap now appears to be a beneficiary of the surge in price.
On-chain data shows the coin has hit $2.8 for the first time since December 17, 2024. In the last 24 hours, XRP has recorded a 9% spike, while its weekly and monthly growth sits at 21.54% and 18.67%, respectively.
A comparison of the market capitalization of Ripple’s XRP and BlackRock. Source: X
XRP’s price has risen from a low of around $2 to nearly $2.9 in the past two weeks. The asset’s market cap has also increased to approximately $31.6 billion.
XRP market activity surges and the outlook turns bullish
Data shared by Santiment, an on-chain analytical platform, shows significant accumulation activity. Presently, wallets holding 1M to 10M XRP have increased their holdings by over 37% in the past two months.
This represents an addition of approximately $3.8 billion in XRP since their accumulation began on November 12, 2024.
🐳📈 XRP investors are pleased to see the #3 market cap asset reach $2.69 today for the first time since December 17, 2024. This is being supported by continued enormous accumulation from wallets holding 1M-10M XRP, who own over 37% more coins than they did 2 months ago… pic.twitter.com/G3a3N5iSAS
— Santiment (@santimentfeed) January 14, 2025
XRP’s market behavior shows a bullish structure on lower timeframes, characterized by higher highs and low lows.
In addition, strong buying activity near the 0.5-0.618 Fibonacci retracement levels has contributed to its recent upward price spikes.
However, despite the steady Trump rally, the coin sees poor trading levels between $2 and $3. Now, analysts are emphasizing the need for a breakout to confirm a new trend.
Trading data of XRP/USDT. Source: TradingView
A price move toward $3 could further validate a continuation of the bullish trend traders have seen since November. Without such a breakout, analysts expect a consolidation within the current range to remain at a standstill.
Crypto analyst Bobby A noted on X that XRP.D, which measures Ripple’s market cap dominance, is targeting approximately 14% dominance. This is at its 4.236 Fibonacci extension.
According to the trading chart analyst, with the overall crypto market capitalization currently at $3.3 trillion, gaining 14% dominance would increase XRP’s worth above $7.80.
BlackRock maintains a bullish crypto stance
Robbie Mitchnick, head of digital assets at BlackRock, recently shared the asset management company’s insights into the evolving role of cryptocurrencies. Speaking to Bloomberg, Mitchnick described Bitcoin as a scarce, global, and decentralized non-sovereign asset, free from specific country risks or traditional counterparty concerns.
Looks like Satoshi Nakamoto achieved the goal he had 16 years ago.
Mitchnick also spoke about the crypto’s market adoption. He asserts that the relationship between institutional investors and BTC is still in its early stages. Mitchnick also called the performance of BlackRock’s IBIT spot Bitcoin ETF in 2024 impressive.
He believes more institutions and wealth advisors will be looking to bring in more inflows this year.
However, Mitchnick emphasized that BlackRock does not want to be compared with MicroStrategy when it comes to Bitcoin investments. Unlike MicroStrategy, which is known for its aggressive, leverage-based Bitcoin accumulation strategy, BlackRock is leaning towards a more conservative and investor-focused approach.
“We’re not buying and selling Bitcoin for ourselves. This is for our investors,” reiterated Mitchnick, “We don’t need a three-times levered Bitcoin ETF. The asset’s got enough volatility without it.”
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