By Key Points
- XRP Surpasses Ethereum in Fully Diluted Valuation at $240B
- Institutional adoption and regulatory clarity drive XRP’s rise.
- Trump’s crypto-friendly policies boost XRP’s momentum.
- SEC discussions suggest XRP may be reclassified as a commodity.
For the first time, XRP has surpassed Ethereum in fully diluted valuation (FDV), signaling a significant shift in the crypto landscape. According to Token Terminal, XRP’s FDV now stands at $240 billion, edging past Ethereum’s $231.5 billion.
$XRP just overtook ETH by FDV for the first time since 2020 on a daily basis
Data via @tokenterminal pic.twitter.com/Hxdx2viU3Y
— Maus (@Mausefalle25) March 14, 2025
FDV is a crucial metric that reflects the total value of a cryptocurrency project, including tokens that are not yet in circulation. While XRP leads in FDV, it still lags behind Ethereum in market capitalization—Ethereum’s stands at $231 billion, while XRP’s sits at $140 billion.
This dramatic shift highlights growing institutional adoption and a changing regulatory environment favoring XRP. Meanwhile, Ethereum has struggled with leadership challenges and price volatility in recent months.
Ethereum and XRP FDV. Source: X/Maus – Techtoken
Institutional Interest and Pro-Crypto Policies Fuel XRP’s Rise
XRP’s rise can be attributed to a combination of institutional interest and policy changes. Following Trump’s re-election, XRP’s price soared over 300%, peaking at $3.38 in January 2025.
Several major financial institutions, including Societe Generale, have integrated XRP Ledger technology, strengthening its real-world use cases. Moreover, asset managers such as Grayscale, Canary, and Franklin Templeton have submitted spot XRP ETF applications to the SEC.
Speculation is also growing that BlackRock, the world’s largest asset manager, may soon apply for an XRP ETF, further fueling market excitement. Nate Geraci, president of ETF Store, recently stated:
I’m ready to log formal prediction…
BlackRock will file for *both* solana & xrp ETFs.
Solana could be any day. Think xrp once SEC lawsuit concluded.
— Nate Geraci (@NateGeraci) March 14, 2025
The regulatory landscape is also turning in XRP’s favor. Reports suggest the SEC is finalizing its enforcement action against Ripple, a legal battle that has weighed on XRP for years.
Even more importantly, discussions within the SEC suggest XRP could be reclassified as a commodity rather than a security, significantly reducing legal risks and increasing institutional confidence.
BREAKING: 🇺🇸 JUST IN: $XRP FULLY DILUTED MART CAP. PASSES $ETH!
XRP reached $235 Billion, surpassing $ETH at $230 Billion, per CoinGecko data.
Will $XRP Become the 2nd largest Alt. Coin this bull run? 🤔💭
Comment Below & Follow For More!!👇👇 pic.twitter.com/NQG7ONcOC9
— Good Morning Crypto (@AbsGMCrypto) March 15, 2025
Shifting Market Trends and Future Outlook
XRP’s dominance comes at a time when other altcoins are facing challenges. While XRP’s active addresses are surging, some altcoins have struggled, with projects like Hamster Network witnessing a 99.9% drop in transaction volume.
Meanwhile, Bitcoin has also gained momentum, benefiting from the recent drop in U.S. inflation to 2.8%. As macroeconomic conditions improve, more investors are allocating funds to digital assets, fueling XRP’s continued rise.
The crypto space is also witnessing increasing security concerns. Crypto traders are losing funds due to sandwich attacks, and money laundering fears are growing around Hyperliquid. These risks highlight the importance of regulatory clarity, which XRP is now benefiting from.
With rising adoption, favorable regulations, and growing institutional backing, XRP’s momentum shows no signs of slowing down. Its ability to maintain this lead over Ethereum will depend on continued market confidence and further regulatory breakthroughs.
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