In a report published last year, the well-known American magazine Forbes identified 20 altcoins as zombies, including XRP, Cardano (ADA), Litecoin (LTC), and Ethereum Classic (ETC).
Forbes claimed at the time 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 significant shift in its perspective. The publication has notably altered its stance on XRP and Ripple.
Forbes recently described Ripple's transformation as a “$180 billion reinvention,” attributing this change to acquisitions, increased 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 stated.
According to Forbes, Ripple has now become integrated into the rapidly expanding digital asset treasury trend, with several prominent companies recently announcing treasury plans for XRP.
Among these companies, Evernorth stands out, aiming to raise over $1 billion in funding.
Forbes also highlighted that XRP has seen a substantial increase in value, gaining 366% over the past year, which has brought its market capitalization to over $150 billion. The publication noted that this renewed demand for XRP is not solely driven by speculation.
Forbes attributed the transformation of XRP and Ripple to several key factors: enhanced regulatory clarity, broader institutional adoption, and a $125 million settlement with the SEC. The publication now characterizes Ripple as a consolidated financial services conglomerate, rather than a struggling payment token issuer.