Amid a cryptocurrency bull run, Ripple (XRP) has surged in price to $2.67 at press time and briefly enjoyed a market cap greater than 88% of the stocks in the S&P 500 today.
In the past seven days, XRP’s market cap has more than doubled in size from $75.3 billion on November 26 to $158.5 billion today, overtaking Solana and Tether by market cap. According to Stock Analysis, thisranked XRP 61st out of 503 stocks in the S&P 500 — outperforming a whopping 88% of them.
XRP’s market cap was just above the world’s largest asset manager, BlackRock ($BLK at $158 billion) and ride-share giant Uber ($UBER at $154 billion).
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Though its market cap has slightly fallen to $153 billion at press time, XRP is still outperforming Peter Thiel’s Palantir ($PLTR at $151 billion), biotech corporation Pfizer ($PFE at $146 billion), banking behemoth Citigroup ($C at $136B), and defense contractor Lockheed Martin ($LMT at $123 billion).
XRP officially reached a new market cap all-time-high (ATH) at $158.5 billion. The last time it came anywhere close was on the tail of bitcoin’s bull run in late 2017; its previous peak was $131.7 billion on January 7, 2018.
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This latest XRP pump has been attributed to several potential factors, including news that hints at a settlement with the Securities and Exchange Commission. Speculation that Elon Musk may soon invest in XRP is also a likely contributing factor, along with new partnerships and a potential XRP ETF.
