Forbes included XRP in its top 10 cryptocurrencies to invest in, ranking it fourth after Bitcoin, Ethereum, and BNB, according to the publication's latest updates. The reversal comes after Forbes labeled XRP and 19 other altcoins as "zombies" in a report published last year. Forbes compiled the list based on criteria including real-world use, market capitalization exceeding $5 billion, and trading volume, highlighting XRP's role in international payments through Ripple's partnerships with financial institutions as a key strength.
Forbes Reverses Stance on XRP Classification
The American magazine Forbes published a report last year labeling 20 altcoins as "zombies," including XRP, Cardano (ADA), Litecoin (LTC), and Ethereum Classic (ETC). Forbes has now included some of these previously criticized altcoins in its top 10 cryptocurrencies to invest in. XRP appears at the fourth position on the updated list, following Bitcoin, Ethereum, and BNB.
Forbes Top 10 Cryptocurrency List Composition
Forbes states that the list was compiled based on criteria such as real-world use, market capitalization, and trading volume, with only assets exceeding $5 billion in market capitalization included. The list includes Bitcoin, Ethereum, BNB, XRP, Solana, TRON, Hyperliquid, Rain, UNUS SED LEO, and Zcash (ZEC). Bitcoin tops the list with its status as digital gold, while Ethereum ranks second thanks to its power in smart contracts and decentralized applications.
XRP Strengths in International Payments
Forbes highlighted XRP's role in international payments as one of its greatest strengths. Ripple has forged partnerships with financial institutions, providing XRP with a practical use case that sets it apart from many other cryptocurrencies, according to Forbes. XRP, with a market capitalization of $67 billion, is currently trading at around $1.07.
Centralization Concerns and Ripple Holdings
Forbes noted disadvantages for XRP, with the first being concerns about centralization and the second being the large XRP holdings of Ripple co-founder Chris Larsen. Forbes stated: "Unlike Bitcoin and other cryptocurrencies obtained through mining, XRP tokens enter circulation the moment Ripple decides to sell coins. Therefore, there are concerns about the centralized structure controlling the XRP supply." Ripple co-founder Chris Larsen, with a net worth ranging from $1 to $7.6 billion, owns a significant portion of XRP, according to Forbes.
FAQ
What ranking did Forbes give XRP in its top cryptocurrencies list?
Forbes ranked XRP fourth in its top 10 cryptocurrencies to invest in, placing it after Bitcoin, Ethereum, and BNB according to the publication's latest updates.
What criteria did Forbes use to compile the top 10 cryptocurrency list?
Forbes compiled the list based on criteria including real-world use, market capitalization exceeding $5 billion, and trading volume, as stated in the publication.
What concerns did Forbes raise about XRP?
Forbes noted concerns about centralization due to Ripple's control over XRP supply and the significant XRP holdings of Ripple co-founder Chris Larsen, whose net worth ranges from $1 to $7.6 billion.
