The cryptocurrency XRP has gained a major vote of confidence by being added to two prestigious indexes managed by the Hong Kong Virtual Asset Consortium (HKVAC).
XRP has now gained entry into two major cryptocurrency indexes, joining the ranks of top digital assets like Bitcoin, Ethereum, and Tether.
Specifically, XRP now makes up 6.94% of the HKVAC Cryptocurrency Global Large Top 5 Index as well as the Equal Weight Index. This means XRP is now one of the core components of these indexes, given an equal weighting alongside crypto heavyweights.
The inclusion represents a significant endorsement for XRP, as the HKVAC has strict criteria for adding virtual assets. To qualify, cryptocurrencies must maintain a median market capitalization of at least $10 million and a median daily traded value of no less than $100,000 over the preceding three months.
XRP seems to have earned its place after a major legal victory. In July 2022, the SEC’s long-running case claiming XRP was an unregistered security concluded with a ruling that affirmed XRP’s status as a currency. This decision established XRP as a legitimate investment, gaining trust globally.
When the SEC’s subsequent appeal of the ruling was dismissed, XRP’s triumph became definitive. The positive judgment further strengthened XRP’s standing in the crypto market.
By meeting the HKVAC’s high standards and surviving a legal battle with the SEC, XRP has gained the credibility to be included alongside the top digital assets in two prestigious Hong Kong indexes. This marks a major step in establishing XRP as an elite cryptocurrency.
