Amid a cryptocurrency bull run, Ripple (XRP) has surged in price to $2.67 at press time and briefly loved a market cap larger than 88% of the shares within the S&P 500 immediately.

Previously seven days, XRP’s market cap has greater than doubled in measurement from $75.3 billion on November 26 to $158.5 billion immediately, overtaking Solana and Tether by market cap. In keeping with Inventory Evaluation, this ranked XRP 61st out of 503 shares within the S&P 500 — outperforming a whopping 88% of them.

XRP’s market cap was simply above the world’s largest asset supervisor, BlackRock ($BLK at $158 billion) and ride-share large Uber ($UBER at $154 billion).

Learn extra: CHART: Dogecoin market cap now larger than 60% of S&P 500

Although its market cap has barely fallen to $153 billion at press time, XRP continues to be outperforming Peter Thiel’s Palantir ($PLTR at $151 billion), biotech company Pfizer ($PFE at $146 billion), banking behemoth Citigroup ($C at $136B), and protection contractor Lockheed Martin ($LMT at $123 billion).

XRP formally reached a brand new market cap all-time-high (ATH) at $158.5 billion. The final time it got here anyplace shut was on the tail of bitcoin’s bull run in late 2017; its earlier peak was $131.7 billion on January 7, 2018.

This newest XRP pump has been attributed to a number of potential elements, together with information that hints at a settlement with the Securities and Trade Fee. Hypothesis that Elon Musk might quickly put money into XRP can be a probable contributing issue, together with new partnerships and a possible XRP ETF.

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