Forbes magazine has undergone a significant shift in its assessment of Ripple and its native token XRP, moving from labeling it a "zombie" altcoin to heralding its reinvention as a multi-billion dollar financial powerhouse. In a report from last year, Forbes included XRP among 20 altcoins it described as "zombies," criticizing them for minimal utility and user adoption. However, in a recent update, Forbes highlighted Ripple's "$180 billion reinvention," driven by regulatory clarity, institutional interest, and strategic acquisitions.
Ripple's private share value has surged to between $135 and $170, roughly doubling from the start of the year, which places the company's valuation between $22 billion and $30 billion. This brings it close to stablecoin giant Circle, valued at around $34 billion. XRP has recorded a remarkable 366% increase in value over the past year, pushing its market capitalization to over $150 billion. This growth is largely attributed to Ripple's $125 million settlement with the SEC, which provided regulatory certainty, and growing institutional adoption, including treasury plans from companies like Evernorth, which aims to raise over $1 billion in funding.
Ripple has strengthened its position through a series of major acquisitions: GTreasury for $1 billion, prime brokerage Hidden Road for $1.25 billion, payments platform Rail for $200 million, and custody businesses Metaco and Standard Custody. These moves have solidified Ripple's role in institutional services and treasury management. Joe Naggar, CEO of Feynman Point Asset Management, told Forbes that Ripple's growth demonstrates strong leadership and refined capital management, while Austin King, CEO of Nomina and a former Ripple partner, emphasized the synergy among custody, liquidity, and payments operations.
Forbes now describes Ripple as a consolidated financial services conglomerate, marking a departure from its previous criticism and underscoring the company's evolution in the digital asset industry. The report also notes that despite slower ecosystem growth on the XRP Ledger, Ripple's corporate strategy has positioned it as a key player in global financial infrastructure.
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