In a report published last year, the well-known American magazine Forbes described 20 altcoins as zombies, including XRP, Cardano (ADA), Litecoin (LTC) and Ethereum Classic (ETC).
Forbes claimed that these altcoins failed to meet traditional metrics of success, exhibiting minimal utility and user adoption.
XRP and Ripple Experienced Major Changes!
Ripple and XRP topped Forbes’ list of “zombie blockchain” projects despite having billion-dollar valuations in early 2024. Forbes claimed that Ripple and XRP had little real-world use.
However, Forbes has undergone a major shift. At this point, Forbes has significantly shifted its stance on XRP and Ripple.
Forbes recently called Ripple’s transformation a “$180 billion reinvention” driven by acquisitions, regulatory clarity, and growing institutional interest in XRP.
“Ripple, a blockchain payments company that hasn’t really done much business for a long time, is finally on its way to a legitimate, multi-billion dollar crypto empire after escaping an SEC lawsuit,” the report said.
According to Forbes, Ripple has now become part of the rapidly growing digital asset treasury trend, as several top companies have recently announced treasury plans for XRP.
The most notable of these companies was Evernorth, which aims to raise more than $1 billion in funding.
Forbes also noted that XRP has gained 366% in value over the past year, bringing its market capitalization to over $150 billion. It also noted that the renewed demand for XRP isn’t solely due to speculation.
Forbes attributed the transformation of XRP and Ripple to regulatory clarity, institutional adoption, and a $125 million SEC settlement. It also described Ripple as a consolidated financial services conglomerate, rather than a struggling payment token issuer.
*This is not investment advice.