Forbes Says XRP Is Now a Very Different Beast Than It Was Just a Year Ago

Forbes has dramatically shifted its stance on XRP and Ripple, describing the company as almost unrecognizable compared to the version it profiled in early 2024.

Back then, XRP and Ripple topped Forbes list of “zombie blockchains” projects with billion-dollar valuations, but with supposedly minimal real-world usage.

Today, the outlet calls Ripples transformation a “$180 billion reinvention,” driven by acquisitions, regulatory clarity, and a surge of institutional interest in XRP.

Moreover, the report highlighted that XRP itself has surged 366% in the last year, pushing its market cap above $150 billion. Notably, the renewed demand is not fueled by speculation alone.

XRP yearly chart CoinMarketCap

According to Forbes, multiple firms, including Evernorth, are adopting XRP as part of their treasury strategies, something it considers unthinkable at a time when Ripple was still under regulatory siege.

Freed From the SEC, Ripple Goes on an Acquisition Spree

Ripples five-year standoff with the SEC ended with a $125 million settlement, removing the cloud that had limited its options for half a decade. Once free, Ripple accelerated its strategy with aggressive, high-value acquisitions:

• GTreasury – $1 billion
• Hidden Road (Now Ripple Prime) – $1.25 billion
• Rail – $200 million
• Metaco – $250 million
• Standard Custody – undisclosed

These deals push Ripple into treasury, custody, and prime brokerage, which are areas dominated by companies like Coinbase and Circle.

Redirect in Leadership, Strategy, and Perception

Forbes now frames Ripple not as a struggling payment token issuer but as a consolidating financial services conglomerate. Industry figures say the difference is visible.

Commentators like Joe Naggar believe Ripple is demonstrating capital discipline, clearer leadership, and coordination across its expanding portfolio.

Other analysts now compare Ripple less to blockchains and more to large crypto financial institutions. They believe Ripples long-standing technology could become the backbone of a unified, institutional-level ecosystem if the company can successfully integrate its recent acquisitions.

Can Ripples Expansion Feed Value Back Into XRP？

While the XRP Ledger still trails major networks in developer activity and mainstream app usage, Forbes says the bigger test ahead is synergy.

Ripple needs to prove that its rapid expansion ultimately strengthens the XRP Ledger rather than creating isolated business units with no connection.

Ultimately, critics are now acknowledging that Ripple is today a very different beast—bigger, bolder, and behaving like the multibillion-dollar player it has long been valued as.