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XRP has recorded a significant breakthrough in September, with its XRP market cap surpassing that of Citigroup, one of the world’s largest financial institutions. As of September 13, 2025, XRP’s market capitalization stood at $188.66 billion, edging past Citigroup’s $183 billion and Shopify’s $185 billion.
The token’s momentum has been fueled by consistent buying pressure since September 10, pushing it back above the $3 threshold. At press time, XRP was trading at $3.16, up 3.92% in 24 hours and 13% over the past week. This marks the fourth consecutive day of gains and signals a rare bullish reversal in what is typically a bearish month for cryptocurrencies.
“Crossing this valuation milestone puts XRP in the spotlight not just as a digital asset, but as a serious competitor in global capital markets,” — Daniel Ives, Senior Analyst, Wedbush Securities.
This development reaffirms XRP’s place among the top 100 global assets by market capitalization, a ranking traditionally dominated by legacy corporations and financial giants.
Much of the optimism around XRP is tied to its growing presence in institutional investment vehicles. Earlier this week, Canadian asset manager 3iQ announced that its XRPQ ETF had exceeded CAD 150 million in assets under management (AUM), making it the largest XRP-focused fund in Canada.
The record underscores investor appetite in regulated markets, especially as traditional finance begins to embrace crypto products. “The strength of the XRP market cap is being validated through ETF adoption, where regulated exposure is accelerating mainstream confidence,” — Laurence Booth, Professor of Finance, University of Toronto.
At the same time, U.S. regulators continue to evaluate applications for XRP-linked products. REX-Osprey ETFs cleared the Securities and Exchange Commission’s (SEC) 75-day review window, paving the way for listings of new Dogecoin, Bitcoin, and XRP funds under the Investment Company Act of 1940.
Meanwhile, Franklin Templeton’s XRP ETF application remains under review, with a final decision expected by November 14, 2025.
The comparison with Citigroup has drawn attention to how fast digital assets can disrupt traditional finance benchmarks. Citigroup, an institution with over 200 years of history, now finds itself eclipsed by a digital token launched in 2012. Analysts caution that while XRP market cap gains reflect growing adoption, volatility remains a risk.
“Valuations in crypto move at a pace financial institutions are not designed for,” — Sarah Johnson, Crypto Policy Researcher at Brookings Institution. “Citigroup may bounce back in traditional metrics, but the signal here is that investor capital is diversifying aggressively into digital assets.”
For financial policymakers, XRP’s rise raises questions about market oversight, investor protection, and the broader role of cryptocurrencies in global finance. If XRP sustains its position, regulators may face renewed pressure to accelerate frameworks around digital asset trading and institutional adoption.
With buying pressure intact, ETFs gaining traction, and its XRP market cap now exceeding household names in finance and commerce, XRP’s trajectory remains a central storyline in the digital asset landscape. Investors will be watching whether the token can hold above $3 and sustain momentum in the final quarter of 2025, especially as key SEC decisions loom.
As the cryptocurrency continues to integrate into mainstream markets, the balance between innovation and regulation will determine whether XRP’s latest milestone is a temporary spike or the foundation for longer-term dominance.
