XRP surges 5%, market cap hits $140 billion, surpasses valuations of Nike, Sony, Ferrari, and Starbucks
market capitalization soaring to $140 billion. The rally comes after Ripple Labs secured regulatory approval from the New York Department of Financial Services (NYDFS) for its RLUSD stablecoin, marking a significant milestone in its cryptocurrency expansion.
Ripple CEO Brad Garlinghouse announced the approval on X (formerly Twitter), saying, «We have final approval from @NYDFS for $RLUSD! Exchange and partner listings will be live soon – and reminder: when RLUSD is live, you’ll hear it from @Ripple first.»
Meanwhile, as of Thursday, December 12, XRP's market cap surged to nearly 5% in the past 24 hours, reaching $139.75 billion, according to data available on CoinMarketCap.
With its recent rise, XRP’s market cap has outpaced the valuations of prominent global companies such as Sony ($128.6 billion), Nike ($115.57 billion), Starbucks ($112.6 billion), Spotify ($97.51 billion), PayPal ($90.23 billion), Dell ($86.75 billion), and Ferrari ($80.92 billion).
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