XRP's market value briefly surpassed BlackRock, with potential institutional benefits driving bullish sentiment

ChainCatcher news, according to Finbold, based on CoinMarketCap data, XRP's market capitalization once approached $183.4 billion and briefly surpassed the market capitalization of the world's largest asset management company, BlackRock, which was close to $180 billion at the time on Sunday. Analysts believe that the support for this round of increase and bullish sentiment may be related to Ripple's ongoing efforts to expedite its application for a national trust bank license in the United States, which will allow it to operate stablecoins under federal regulation.

As the application deadline approaches, the market is viewing this as a long-term positive catalyst for XRP.