Ripple (XRP) Market Cap Massively Lower Than Advertised

That’s the bold thesis of a new report from crypto research firm Messari, which alleges that ripple’s circulating market cap — the combined value of all liquid XRP tokens — is “significantly overstated” on the vast majority of crypto data services and exchanges, perhaps by as much as 46 percent.

According to Messari, ripple’s circulating market cap is $6.9 billion, which would make it the third-largest cryptocurrency behind both bitcoin ($62.9 billion) and ethereum ($12.2 billion).

That paints a vastly different picture than the one available on most third-party crypto data feeds. CoinMarketCap, which ranks among the 500 most- visited websites in the world according to Alexa, estimates that the value of all XRP in circulation is a little over $13 billion.


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