After a recent temporary bounce on Sunday, XRP has made history once again as the leading altcoin moves higher in the global financial hierarchy. Indeed, the asset is undergoing a major shift in the world of finance with this milestone, moving from the crypto stage to a global stage.
XRP In Top 100 Global Asset Rankings
Cryptocurrencies are becoming a significant part of the broader financial sector. While Bitcoin and Ethereum move a step higher among the world’s largest assets by market value, XRP has followed suit, marking yet another major milestone for the altcoin this cycle.
It is worth noting that the altcoin is now among the top 100 largest assets in the world following a short rebound. This milestone on the global financial stage highlights the digital asset’s increasing significance outside of the crypto space, placing it with some of the most valuable businesses, commodities, and financial instruments worldwide.
Furthermore, being a part of this elite group underscores the token’s growing stance as a notable contender in the financial landscape. With institutional adoption gaining traction and anticipation around potential XRP-based ETFs continues to build, the altcoin ascent could just be beginning.
According to recent data from Companiesmarketcap, XRP is currently positioned at the 94th spot as its market cap experienced a sharp upswing. The asset surpassed popular public firm Shopify, a Canadian multinational e-commerce company, to claim the 94th position in the global financial hierarchy.
After surpassing Shopify, XRP is coming dangerously close to big companies like Booking Holding, Texas Instruments, Verizon, and Commonwealth Bank, among others. Overtaking well-known businesses and even precariously approaching classic safe-haven titans, the altcoin is transforming from a niche asset to a mainstream asset.
Major Developments Set To Boost The Asset
XRP could move higher in the global financial ranking in the near term. With major developments on the horizon, the altcoin’s price and market value are likely to skyrocket in the next few months, pushing it further and cementing its position as one of the most valuable assets worldwide.
XLM & XRP Insider on X has outlined two crucial events that would change everything for the asset this cycle. According to the insider, these two upcoming huge catalysts are set to occur in October.
The first catalyst is the potential XRP Spot Exchange-Traded Fund (ETF) approval. While the US SEC has extended its decision on the fund to October, the insider believes that an approval would greatly increase the asset’s liquidity and open the door for institutional funds.
Meanwhile, the second catalyst is a Ripple bank license. The payment form has submitted applications for both a Federal Reserve master account and a national banking franchise. If the license is granted, Ripple would formally enter the American financial system, marking a historic move for any crypto company.
“A bank license and ETF approval in the same month would cement XRP’s place as a core asset in global finance,” the expert stated. As October approaches, the insider believes it could be the month that the altcoin goes from the corporate chain to the backbone of complaint crypto adoption.
