XRP market capitalization is calculated by multiplying the current XRP price by the total circulating supply of XRP tokens. At the current price of approximately $1.45 USD and a circulating supply of roughly 61.2 billion XRP, the total XRP market cap stands at approximately $88–89 billion USD, placing it firmly in the top 5 cryptocurrencies globally.
What Is XRP Market Capitalization?
Market capitalization (market cap) is a widely used metric for comparing the relative size of cryptocurrencies. For XRP, the market cap equals the current price multiplied by the circulating supply — that is, the number of XRP tokens currently available on the open market. Market cap is different from the fully diluted valuation (FDV), which uses the total maximum supply of 100 billion XRP tokens rather than the circulating supply.
XRP Circulating Supply
The total maximum supply of XRP is fixed at 100 billion tokens, all of which were created at the launch of the XRP Ledger in 2012. Currently, approximately 61.2 billion XRP are in circulation. The remaining tokens are held in escrow by Ripple Labs and released on a scheduled basis — up to 1 billion XRP per month — for use in operations, partnerships, and market development. Any unused tokens from monthly releases are returned to escrow, making the circulating supply growth predictable and transparent.
XRP Ranking Among Cryptocurrencies
XRP consistently ranks among the top 5 cryptocurrencies by market capitalization, regularly competing for the #3 or #4 position globally. It has at various times held the #2 spot, surpassing Ethereum during the 2018 bull run. In 2026, XRP surpassed BNB to reclaim the #4 ranking with a market cap above $89 billion USD. The ranking can shift rapidly as prices change, but XRP's large circulating supply and active trading volume keep it near the top of all major rankings.
XRP Fully Diluted Valuation
The fully diluted valuation (FDV) of XRP assumes all 100 billion tokens are in circulation at the current price. At $1.45 per token, the XRP FDV equals approximately $145 billion USD. The gap between the current market cap (~$89B) and the FDV (~$145B) represents the value of XRP tokens still held in escrow by Ripple. Investors who monitor the FDV are effectively accounting for potential future dilution from additional token releases.
