XRP market cap briefly surpasses BlackRock, with potential institutional bullish drivers
According to ChainCatcher, citing Finbold, CoinMarketCap data shows that XRP's market capitalization once approached $18.34 billion, briefly surpassing the market capitalization of BlackRock, the world's largest asset management company (which was close to $18 billion at the time) on Sunday. Analysts believe that this round of price surge and bullish sentiment may be related to Ripple's accelerated efforts to obtain a U.S. national trust bank license, which would allow it to operate stablecoins under federal regulation.
As the application deadline approaches, the market is viewing this as a long-term bullish catalyst for XRP.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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